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DUBLIN - Fusion Fuel Green PLC (NASDAQ:HTOO), an energy engineering and advisory firm with a market capitalization of $6.12 million, has finalized a $1.3 million private placement of senior convertible notes to certain institutional investors. The notes, issued at a discount, mature in August 2026 and have an 8% annual interest rate.
CEO John-Paul Backwell expressed that the additional funding bolsters the company’s financial standing and demonstrates investor confidence in Fusion Fuel’s long-term strategy and operational capabilities. The investment aims to enhance the company’s role as a diversified energy services leader. According to InvestingPro data, the company currently faces financial challenges with a current ratio of 0.56, indicating short-term obligations exceed liquid assets.
The proceeds are intended for additional working capital, as the company generated $4.44 million in revenue over the last twelve months with a gross profit margin of -123.84%. Details of the notes and warrants are disclosed in the company’s recent SEC filing on March 3, 2025. InvestingPro subscribers have access to 13 additional key insights about HTOO’s financial health and valuation metrics.
Fusion Fuel, through its Al Shola Gas and BrightHy brands, offers industrial gas solutions and hydrogen-based services for decarbonization in various sectors.
The company cautions that forward-looking statements in the press release are subject to risks and uncertainties that could affect actual results.
This report is based on a press release statement.
In other recent news, Fusion Fuel Green PLC has been approved to transfer its listing to the Nasdaq Capital Market, effective February 3, 2025. This move grants the company an additional 180-day grace period to meet Nasdaq’s minimum bid price requirement, with the company considering measures like a reverse share split to ensure compliance. Fusion Fuel Green also reported a pro forma stockholders’ equity of approximately $12.0 million as of January 10, 2025, comfortably exceeding the Nasdaq’s minimum requirement of $2.5 million. This figure includes recent financial activities such as a private placement of senior convertible notes worth $1.28 million and the establishment of a $25 million equity line of credit.
Additionally, Fusion Fuel announced a change in its financial leadership, with Frederico Figueira de Chaves stepping in as interim CFO following the resignation of Gavin Jones. Figueira de Chaves, who previously served as CFO, will continue his role as Chief Strategy Officer while guiding the company through its next growth phase. The leadership transition aligns with Fusion Fuel’s strategic focus on expanding its hydrogen solutions and gas services businesses. These developments reflect the company’s ongoing efforts to strengthen its position and ensure compliance with Nasdaq listing requirements.
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