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DUBLIN - Fusion Fuel Green PLC (NASDAQ:HTOO), a green hydrogen and integrated energy solutions provider trading at $5.25 per share, has completed several steps to regain compliance with Nasdaq listing requirements, according to a shareholder update released Wednesday. The company’s stock has faced significant challenges, declining over 84% in the past year according to InvestingPro data, which shows the company currently trades below its Fair Value.
The company implemented a 1-for-35 reverse stock split of its Class A Ordinary Shares on July 14, aiming to meet Nasdaq’s minimum bid price requirement of $1.00 per share.
Following the 2024 insolvency filing of its Portuguese subsidiary, Fusion Fuel acquired a controlling stake in Quality Industrial Corp. and its operating business, Al Shola Al Modea Gas Distribution LLC. The Al Shola Gas subsidiary is targeting approximately $20 million in revenue for 2025.
Between January and February 2025, the company secured about $2.58 million in financing from private placements of senior convertible notes and warrants, and signed a $25 million equity line agreement.
The Al Shola Gas subsidiary has shown momentum with approximately $3.5 million in new orders and renewals between November 2024 and January 2025, and over $2.7 million in engineering and utility contracts between March and May 2025. Since January, it has added more than 1,800 residential service contracts and two commercial service contracts, representing estimated recurring revenue of $0.9 million annually.
In May, Fusion Fuel entered into non-binding terms to acquire a UK-based fuel distribution company in a transaction valued at approximately £50 million. Additionally, its BrightHy Solutions subsidiary formed a non-exclusive agency agreement with Sungrow Hydrogen Sci. & Tech. Co. Ltd. to deploy electrolyzer solutions in Iberia.
"This past year demanded disciplined execution—and that’s exactly what we’ve delivered," said CEO John-Paul Backwell in the press release statement.
The company reports it is focused on scaling its hydrogen platform and pursuing strategic acquisitions to drive shareholder value. Analysts forecast 43.55% revenue growth for 2025, though InvestingPro data indicates significant challenges ahead with 16 additional key insights available to subscribers. For comprehensive analysis including Fair Value estimates and detailed financial health metrics, investors can access the full Pro Research Report, part of InvestingPro’s coverage of over 1,400 US equities.
In other recent news, Fusion Fuel Green PLC announced a 1-for-35 reverse share split of its Class A Ordinary Shares to regain compliance with Nasdaq’s minimum bid price requirement. This move will significantly reduce the number of outstanding shares from approximately 27.4 million to about 783,376 shares. Additionally, Fusion Fuel’s subsidiary, Al Shola Al Modea Gas Distribution LLC, secured $1.2 million in new engineering and utility projects in Dubai, adding to over $2.7 million in contracts reported earlier this year. These contracts are expected to convert into long-term recurring revenue.
Moreover, Fusion Fuel is set to acquire a UK-based fuel distribution company for £50 million, aligning with its strategy to diversify its energy portfolio. The acquisition involves a combination of cash and shares, subject to shareholder approval and due diligence. In another development, Fusion Fuel’s BrightHy Solutions has partnered with Sungrow Hydrogen to enhance hydrogen production technologies in the Iberian region. This collaboration aims to advance the green energy transition by leveraging the strengths of both companies.
Fusion Fuel also reported securing new contracts worth $3.6 million through Al Shola Gas, reflecting the company’s growing presence in the engineering and utility sectors. These contracts include significant residential service agreements and commercial LPG supply and maintenance projects in Dubai.
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