Fusion Fuel Green PLC reports developments across energy engineering, advisory and utility operations, with current activity centered on industrial gas infrastructure, LPG services and biomass-powered steam. The company’s updates include operating and financial results, restructuring actions, board and governance changes, and progress at majority-owned businesses.
Recurring news covers Quality Industrial Corp. and Al Shola Gas, which provide LPG consulting, engineering, installation, maintenance and supply services in the UAE, as well as BioSteam Energy, a majority-owned joint venture operating a biomass-powered industrial steam project in South Africa.
Fusion Fuel Green PLC (NASDAQ: HTOO) has announced a 1-for-35 reverse share split of its Class A Ordinary Shares, effective July 14, 2025. The move aims to regain compliance with Nasdaq's minimum bid price requirement for continued listing.
The consolidation will reduce outstanding shares from approximately 27.4 million to 783,376, with the stock continuing to trade under the symbol "HTOO" with a new CUSIP number G3R25D 209. The company's authorized share capital will maintain 100 million shares, with the nominal value per share adjusting to $0.0035.
The reverse split will proportionally affect the company's equity awards, warrants, and convertible preferred shares. Fractional shares will be rounded up, and shareholders need not take action as changes will be automatically reflected in brokerage accounts.
Fusion Fuel Green (NASDAQ:HTOO) announced that shareholders approved all proposals at their Annual General Meeting on June 25, 2025. The approval satisfies Nasdaq's requirement following a delisting notice and enables a planned share consolidation to meet the exchange's $1.00 minimum bid price requirement.
CEO John-Paul Backwell emphasized that this approval allows management to focus on growth initiatives, particularly the development of Al Shola Gas and BrightHy Solutions, while pursuing potential acquisitions. The company will provide details about the share consolidation timeline in the near future.
Fusion Fuel (NASDAQ:HTOO) announced that its subsidiary Al Shola Gas has secured AED 4.4 million (~$1.2 million) in new engineering and utility projects in Dubai, UAE. This follows their previous announcement of $2.7 million in engineering contracts and 1,800 new residential service contracts secured since early 2025.
The new projects include a Dubai Marina Development DBOM contract for 620 residential units, a Business Bay Tower project with 242 apartments, a Satwa Mid-Rise Development with 240 apartments, and four smaller cluster projects. Al Shola Gas's utility billing footprint has exceeded 12,000 active customers, with bulk LPG supply volumes over 600 metric tons monthly and targeting 800 metric tons by year-end.
BrightHy Solutions, a Fusion Fuel company, has announced a strategic partnership with Sungrow Hydrogen to enhance hydrogen production solutions in Iberia. Under the agreement, BrightHy will act as an agent for Sungrow Hydrogen's products, combining BrightHy's local expertise and engineering capabilities with Sungrow's advanced technology. Sungrow Hydrogen brings significant technological expertise, including a 30MW Water Electrolysis Hydrogen Production Platform, a Germany-based Hydrogen Technology Laboratory, and over 550 patents and copyrights. The partnership builds on existing collaboration between the companies on hydrogen projects in the region and aims to accelerate the deployment of green hydrogen solutions.
Fusion Fuel Green PLC (NASDAQ: HTOO) has signed non-binding Heads of Terms to acquire a UK-based fuel distribution business for £50 million. The deal structure includes £40 million in debt-financed cash and £10 million in Fusion Fuel ordinary shares. The target company demonstrated strong financial performance, with revenues growing from $50 million in FY2024 to $58 million in FY2025, and net income increasing from $5 million to $7 million.
The agreement includes a 90-day exclusivity period and various equity protection provisions. The acquisition remains subject to due diligence, definitive agreements, and necessary approvals. The target company maintains a healthy balance sheet with minimal debt of $1 million under a revolving credit line.
Fusion Fuel Green PLC (HTOO) announced significant business expansion through its subsidiary Al Shola Gas in Dubai. The company secured $2.7 million in new engineering contracts since March 2025 and added over 1,800 residential service contracts and two commercial service contracts, generating approximately $0.9 million in recurring revenue.
Al Shola Gas now serves over 12,000 residential customers and 170 food and beverage outlets. The company's bulk LPG supply exceeds 600 MT monthly, growing organically by 10-20 MT per month. With new bobtail trucks joining their fleet, they expect to reach 800 MT monthly in bulk LPG supply by year-end.
Fusion Fuel Green PLC (HTOO) has signed a non-binding letter of intent to acquire a privately held British fuel distribution company for £50 million. The acquisition terms include £25 million in debt-financed cash, £2 million from capital raise, £8 million in company shares with a make-whole agreement, and two £7.5 million cash payments at 9 and 18 months post-closing.
The target company demonstrated strong financial performance, reporting $50 million revenue and $4 million net income in 2023, growing to $54 million revenue and $7 million net income in 2024. This acquisition follows Fusion Fuel's recent purchase of Quality Industrial Corp. and aligns with their strategy to build a profitable portfolio across the energy value chain.
The transaction remains subject to due diligence, definitive agreements, and regulatory approvals.
Fusion Fuel Green PLC (Nasdaq: HTOO) has secured a $1.3 million private placement of senior convertible notes with institutional investors. The notes were issued at a weighted-average original issue discount of approximately 23% for an aggregate purchase price of $1.0 million. The notes will mature in August 2026 and carry an 8% annual interest rate.
The company also issued warrants to noteholders for additional equity participation. CEO John-Paul Backwell stated that this follow-on financing strengthens their financial position and demonstrates investor confidence. The proceeds will be used for additional working capital.
Fusion Fuel Green PLC (Nasdaq: HTOO) has appointed Luisa Ingargiola to its Board of Directors, effective February 24, 2025. Ingargiola will serve as chairperson of the Audit Committee, replacing Rune Magnus Lundetrae, who remains on the Board. She will also join the Nominating Committee, Audit Committee, and Compensation Committee.
The Board now consists of six directors, with four classified as independent directors under Nasdaq Listing Rules. Ingargiola currently serves as Chief Financial Officer of Avalon GloboCare Corp. (Nasdaq: ALBT) and holds board positions at Vision Marine Technologies (Nasdaq: VMAR) and BioCorRx Inc. (OTCQB: BICX), where she chairs the Audit Committees. She previously served as CFO and co-founder of BBHC, Inc. Ingargiola holds a Business Administration degree from Boston University and a Master of Health Administration from the University of South Florida.