Fusion Fuel subsidiary secures new LPG contracts in Dubai

DUBLIN - Fusion Fuel Green PLC (NASDAQ:HTOO), currently trading at $4.73 with a market capitalization of $3.71 million, announced Friday that its majority-owned subsidiary, Al Shola Al Modea Gas Distribution LLC, has secured multiple new contracts for liquefied petroleum gas (LPG) systems and supply across residential and commercial developments in Dubai. According to InvestingPro analysis, the company appears undervalued despite facing financial health challenges.

The largest contracts, valued at approximately AED 1.9 million ($517,000), include utility operations and bulk LPG supply for a 20-floor residential building with 722 apartments valued at AED 885,000 ($241,000), and utility arrangements for an 8-floor mixed-use development worth AED 850,000 ($232,000).

Additional smaller contracts totaling approximately AED 200,000 ($54,000) were also secured. These new orders are expected to contribute significantly to Al Shola Gas’s pipeline in upcoming quarters.

The company reported that since early 2025, Al Shola Gas has maintained monthly supply volumes of 580-630 metric tons of bulk LPG and 160-180 metric tons of LPG in cylinders, indicating strong demand in the UAE market.

"These additional orders demonstrate the strength of Al Shola Gas’s market presence and its ability to secure and service high-profile developments in Dubai," said John-Paul Backwell, CEO of Fusion Fuel, in the press release statement.

The engineering team at Al Shola Gas is reportedly fully booked for the next 18 months due to the growth in orders and project backlog.

Fusion Fuel Green provides integrated energy engineering, distribution, and green hydrogen solutions through its Al Shola Gas and BrightHy Solutions platforms, supporting decarbonization across industrial, residential, and commercial sectors. While the stock has faced significant headwinds, declining 84.47% over the past year, InvestingPro subscribers can access 18 additional investment tips and a comprehensive Pro Research Report for deeper insights into the company’s potential.

In other recent news, Fusion Fuel Green PLC has announced several key developments. The company has received the first payment of €370,100 from the sale of its 50% equity stake in P2X Spain Sociedad Limitada to EREE Desarrollos Empresariales, S.L., with a total of €515,100 expected from the transaction. Additionally, Fusion Fuel’s subsidiary, Bright Hydrogen Solutions Ltd, has entered into an agency agreement with Houpu Global Clean Energy Co., Ltd., becoming the authorized agent for hydrogen products in Iberia and Latin America. This partnership aims to expand hydrogen infrastructure in these regions.

In efforts to maintain its Nasdaq listing, Fusion Fuel has completed a 1-for-35 reverse stock split of its Class A Ordinary Shares, a move designed to meet the minimum bid price requirement. The company also announced that its subsidiary, Al Shola Al Modea Gas Distribution LLC, secured approximately $1.2 million in new engineering and utility projects in Dubai. These contracts add to the $2.7 million in engineering contracts and 1,800 residential service contracts reported earlier this year. These recent developments highlight Fusion Fuel’s ongoing strategic initiatives and operational growth.

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