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Fusion Fuel Green PLC (NASDAQ:HTOO), through its subsidiaries Al Shola Gas and BrightHy, provides industrial gas solutions and hydrogen-based engineering services aimed at decarbonizing various industries. According to InvestingPro, which offers comprehensive analysis of over 1,400 US stocks, the company faces significant operational challenges with negative EBITDA of $20.87 million in the last twelve months. Subscribers to InvestingPro can access 14 additional investment tips and detailed financial metrics for deeper analysis of HTOO’s market position and prospects. According to InvestingPro, which offers comprehensive analysis of over 1,400 US stocks, the company faces significant operational challenges with negative EBITDA of $20.87 million in the last twelve months. Subscribers to InvestingPro can access 14 additional investment tips and detailed financial metrics for deeper analysis of HTOO’s market position and prospects.
The company’s compliance with the $1.00 minimum bid price per share is critical for continued listing on the Nasdaq Capital Market. This challenge comes amid significant market pressure, with InvestingPro data showing the stock has declined 63% over the past year and maintains a concerning current ratio of 0.56, indicating potential liquidity challenges. Fusion Fuel has indicated readiness to undertake necessary measures, including a potential reverse share split, to achieve compliance. If the company’s Class A Ordinary Shares maintain a closing bid price of at least $1.00 for at least ten consecutive business days, it will receive written confirmation of compliance from Nasdaq.
Previously, on January 10, 2025, Fusion Fuel was notified of non-compliance with Nasdaq’s Annual Meeting Requirement due to not holding a shareholder meeting within twelve months of its fiscal year-end on December 31, 2023. The company has not assured its ability to meet this requirement, regain compliance with the bid price rule, or satisfy Nasdaq listing criteria in general.
Despite the listing transfer, Fusion Fuel anticipates no significant impact on its equity trading. The Nasdaq Capital Market, similar to the Nasdaq Global Market, is a continuous trading market with specific financial and governance requirements for listed companies. Fusion Fuel’s securities will continue trading under the ticker symbols HTOO and HTOOW.
CEO JP Backwell expressed confidence in the company’s strategic direction and commitment to shareholder value. Fusion Fuel aims to solidify its position in delivering full-service energy engineering and advisory solutions.
Fusion Fuel Green PLC, through its subsidiaries Al Shola Gas and BrightHy, provides industrial gas solutions and hydrogen-based engineering services aimed at decarbonizing various industries.
This news article is based on a press release statement from Fusion Fuel Green PLC.
In other recent news, Fusion Fuel Green PLC has seen significant changes and strategic shifts. The company recently appointed Frederico Figueira de Chaves as the interim CFO, following the resignation of Gavin Jones. Jones will continue his role as Company Secretary and support the transition phase. This leadership transition comes as Fusion Fuel focuses on expanding its hydrogen solutions and gas services businesses, despite facing financial challenges with an EBITDA of -$20.87M.
In addition to the leadership change, Fusion Fuel has made strategic financial moves to ensure long-term compliance with Nasdaq’s listing requirements, with its pro forma stockholders’ equity currently standing at approximately $12.0 million. 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.
Furthermore, Fusion Fuel has announced plans to acquire a majority stake in Quality Industrial Corp. This acquisition aims to expand Fusion Fuel’s energy engineering business and integrate capabilities in both traditional and clean energy sectors. This move is anticipated 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. This is viewed by the company 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 the recent developments unfolding at Fusion Fuel Green PLC.
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