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Investing.com -- Fusion Fuel Green PLC (NASDAQ:HTOO) stock surged 50% after the company announced new liquefied petroleum gas (LPG) projects for its majority-owned subsidiary Al Shola Al Modea Gas Distribution LLC in Dubai, United Arab Emirates.
The new contracts, confirmed in July 2025, include installation and maintenance of LPG systems and bulk LPG supply across several large-scale residential and commercial developments in Dubai. The largest projects are valued at over AED 1.9 million (approximately $517,000).
Among these projects is a 20-floor high-rise residential building comprising 722 apartments with a confirmed value of AED 885,000 (approximately $241,000), and an 8-floor mixed-use development combining residential and commercial spaces valued at AED 850,000 (approximately $232,000). Additionally, Al Shola Gas secured several smaller contracts totaling approximately AED 200,000 ($54,000).
Since early 2025, Al Shola Gas has maintained steady monthly supply volumes, averaging between 580-630 metric tons of bulk LPG and 160-180 metric tons of LPG in cylinders, highlighting robust demand in the UAE market.
John-Paul Backwell, CEO of Fusion Fuel, noted that the engineering team at Al Shola Gas is now fully booked for the next 18 months due to the substantial growth in orders and project backlog. The new projects are expected to contribute significantly to Al Shola Gas’s pipeline for upcoming quarters.
The company views these new orders as reinforcement of its strategy to expand its energy services platform in the Gulf region, supporting its broader mission to deliver sustainable energy solutions.
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