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DUBLIN - Fusion Fuel Green PLC’s (NASDAQ:HTOO) hydrogen advisory subsidiary, Bright Hydrogen Solutions Ltd (BrightHy Solutions), has entered into an agency agreement with Chinese manufacturer Houpu Global Clean Energy Co., Ltd., according to a press release issued Thursday. The micro-cap company, currently valued at $3.7 million with shares trading at $4.72, has seen challenging market conditions with an 85% decline in stock value over the past year.
The agreement designates BrightHy Solutions as Houpu’s authorized agent for hydrogen products in Iberia and Latin America. The partnership aims to expand deployment of hydrogen refueling infrastructure and integrated hydrogen systems across these regions.
Under the arrangement, BrightHy Solutions will promote, negotiate and deliver Houpu’s equipment and services, leveraging its market experience and commercial network to support industrial decarbonization and clean mobility projects.
"Houpu Global Clean Energy’s strong industrial background, combined with BrightHy Solutions’ customer-driven approach and local expertise, positions us to deliver complete and dependable solutions to clients who are driving the hydrogen transition," said Frederico Figueira de Chaves, CEO of BrightHy Solutions. The company currently trades at a Price/Book ratio of 0.25, though InvestingPro analysis indicates significant financial challenges with a Weak overall health score.
Liu Xing, Vice President of Houpu Global Clean Energy, stated the partnership "strengthens our ability to serve the growing demand for hydrogen infrastructure outside of China."
Houpu Global Clean Energy specializes in hydrogen refueling equipment and clean energy technologies, offering products including hydrogen dispensers, compressors, storage systems, and control systems.
Fusion Fuel Green PLC provides integrated energy engineering, distribution, and green hydrogen solutions through its Al’Shola Gas and BrightHy Solutions platforms. BrightHy Solutions focuses on hydrogen through electrolysis solutions, offering services across the hydrogen production value chain.
In other recent news, Fusion Fuel Green PLC has made significant strides in various areas. The company has completed a 1-for-35 reverse stock split to meet Nasdaq’s minimum bid price requirement, reducing its outstanding shares to approximately 783,376. This move was approved by shareholders and aims to regain compliance with Nasdaq listing standards. Fusion Fuel also announced plans to acquire a UK-based fuel distribution company for £50 million, subject to shareholder approval and other conditions. The acquisition will involve a combination of cash and shares and is expected to enhance Fusion Fuel’s service offerings.
In addition, Fusion Fuel’s subsidiary, Al Shola Al Modea Gas Distribution LLC, secured $1.2 million in new engineering and utility projects in Dubai, contributing to its expanding footprint. The subsidiary has also reported over $2.7 million in engineering contracts and increased its utility billing footprint to over 12,000 active customers. Meanwhile, BrightHy Solutions, another subsidiary, has partnered with Sungrow Hydrogen to promote hydrogen production technologies in Iberia, aiming to leverage both companies’ strengths in the green energy transition. These developments reflect Fusion Fuel’s focus on scaling its hydrogen platform and pursuing strategic acquisitions to drive shareholder value.
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