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DUBLIN - Fusion Fuel Green PLC (NASDAQ:HTOO), a company specializing in energy engineering and advisory services trading at $0.44 per share, has announced a change in its financial leadership. Gavin Jones has resigned as Chief Financial Officer effective January 24, 2025, to pursue a new opportunity. He will continue in his role as Company Secretary and support the transition. Frederico Figueira de Chaves, the current Chief Strategy Officer and Head of Hydrogen Solutions, has been named interim CFO. According to InvestingPro analysis, the company appears undervalued based on its Fair Value assessment, despite facing significant challenges with a -58% price return over the past year.
Frederico Figueira de Chaves, who previously served as CFO from 2020 to 2023, played a significant role in developing the company’s financial strategy. As interim CFO, he will maintain his existing responsibilities while leveraging his experience to guide the company through its next growth phase.
Jeffrey Schwarz, Chairman of the Board, expressed gratitude to Gavin Jones for his contributions since joining Fusion Fuel in 2021, highlighting his leadership in establishing a foundation for the company’s growth. Jones reflected on his tenure with appreciation for the team’s efforts and confidence in Fusion Fuel’s future success.
The appointment of Mr. Figueira de Chaves comes as Fusion Fuel focuses on expanding its hydrogen solutions and gas services businesses. This strategic move aims to reinforce the company’s position in the integrated energy solutions market. InvestingPro data reveals the company faces financial challenges, with an EBITDA of -$20.87M and a weak overall financial health score. Subscribers can access 12 additional ProTips and comprehensive analysis through the Pro Research Report.
Fusion Fuel Green PLC operates through its subsidiaries, Al Shola Gas and BrightHy. Al Shola Gas offers industrial gas solutions, including LPG system design, supply, and maintenance, and LPG transport and distribution. BrightHy provides engineering and advisory services for decarbonization across various industries.
This leadership transition is expected to support Fusion Fuel’s strategic priorities and enhance its capabilities in the hydrogen ecosystem. While analysts anticipate sales growth in the current year, InvestingPro data indicates the company faces near-term challenges with short-term obligations exceeding liquid assets. The information in this article is based on a press release statement from Fusion Fuel Green PLC.
In other recent news, Fusion Fuel Green PLC has been making strategic moves to ensure its long-term compliance with Nasdaq’s listing requirements. The company’s pro forma stockholders’ equity currently stands at approximately $12.0 million, a figure that aligns with Nasdaq Listing Rule 5550(b)(1). This figure is a result of several transactions, including the acquisition of Quality Industrial Corp. in November 2024 and a series of financial activities on January 10, 2025.
In addition to these financial maneuvers, Fusion Fuel has announced plans to acquire a majority stake in Quality Industrial Corp. This strategic acquisition aims to expand Fusion Fuel’s energy engineering business and integrate capabilities in both traditional and clean energy sectors. The deal, which will see Fusion Fuel acquiring approximately 70% of Quality Industrial Corp, is expected to facilitate Fusion Fuel’s extension into the Middle East and Quality Industrial Corp’s expansion into European markets.
However, amidst these developments, Fusion Fuel’s Portuguese subsidiary has filed for insolvency. The company views this as an opportunity to recalibrate its business strategy, focusing on enhancing its hydrogen engineering and advisory offerings, which require low capital expenditure and offer scalability. These are among the recent developments that have been unfolding at Fusion Fuel Green PLC.
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