Fusion Fuel Green PLC Achieves Nasdaq Compliance and Expands Through Strategic Acquisitions
TL;DR
Fusion Fuel Green's strategic acquisitions and contracts position it for a competitive edge in the green hydrogen sector, targeting $20 million in 2025 revenue.
Fusion Fuel Green executed a 1-for-35 reverse stock split, acquired a controlling stake in Quality Industrial Corp, and secured $25 million in equity to stabilize its capital structure.
Fusion Fuel Green's initiatives in green hydrogen and energy solutions contribute to decarbonization, making tomorrow cleaner and more sustainable for future generations.
Fusion Fuel Green's partnership with Sungrow Hydrogen aims to deploy electrolyzer systems in Iberia, marking a significant step in green energy innovation.
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Fusion Fuel Green PLC (Nasdaq: HTOO), a leader in green hydrogen and energy solutions, has made significant strides in its corporate turnaround and expansion efforts. The company recently completed a 1-for-35 reverse stock split, a strategic move that has allowed it to regain compliance with Nasdaq listing requirements. This development marks a pivotal step in Fusion Fuel's recovery and growth strategy following the insolvency of its Portuguese subsidiary in 2024.
In a bold expansion move, Fusion Fuel acquired a controlling stake in Quality Industrial Corp. and its operating unit, Al Shola Al Modea Gas Distribution LLC ("Al Shola Gas"). This acquisition is part of Fusion Fuel's ambitious plan to generate $20 million in revenue by 2025. Al Shola Gas has already secured $7.4 million in new contracts since November and added over 1,800 residential and two commercial service agreements, contributing $0.9 million in recurring annual revenue to Fusion Fuel's bottom line.
To further stabilize its financial position, Fusion Fuel raised $2.58 million through convertible notes and secured a $25 million equity line. These financial maneuvers are designed to strengthen the company's capital structure and support its strategic initiatives. Additionally, Fusion Fuel has agreed to acquire a UK-based fuel distributor for approximately £50 million, a move that is expected to significantly enhance its market presence and operational capabilities.
Another notable development is the agency agreement signed by Bright Hydrogen Solutions Ltd. ("BrightHy Solutions"), a subsidiary of Fusion Fuel, with Sungrow Hydrogen Sci. & Tech. Co. Ltd. This partnership aims to deploy electrolyzer systems in Iberia, furthering Fusion Fuel's commitment to advancing green hydrogen technologies and solutions.
John-Paul Backwell, CEO of Fusion Fuel, expressed confidence in the company's direction, highlighting the resolution of legacy issues, the infusion of fresh capital, and the momentum gained through Al Shola Gas and BrightHy Solutions. With these strategic initiatives, Fusion Fuel is poised to create long-term value for its shareholders and solidify its position in the green energy sector.
Curated from InvestorBrandNetwork (IBN)
