Welcome to our dedicated page for Fusion Fuel Green PLC news (Ticker: HTOO), a resource for investors and traders seeking the latest updates and insights on Fusion Fuel Green PLC stock.
Fusion Fuel Green PLC (HTOO) is a pioneering company focused on the production of green hydrogen. Established in 2018 and headquartered in Dublin, Ireland, the company has made significant strides in creating cost-effective and competitively priced green hydrogen solutions. Fusion Fuel operates primarily in Portugal, Southern Europe, and Morocco, offering innovative hydrogen generators and green hydrogen production services to various industries.
The company's core technology, the HEVO-Chain, is designed to optimize the production of green hydrogen. One of its flagship projects, the HEVO-Aveiro project in Portugal, aims to develop a 25 MW green hydrogen facility. This facility is expected to produce approximately 2,100 tonnes of green hydrogen annually, which will be utilized for industrial process heat in the local ceramic industry. The HEVO-Aveiro project has garnered significant attention, earning the highest assessment among all hydrogen projects submitted to the C-14 funding call and securing a substantial grant for its development.
In addition to its technological advancements, Fusion Fuel has established itself as a key player in the green hydrogen sector through strategic partnerships and collaborations. The company provides hydrogen generators to clients operating their green hydrogen plants and offers operational and monitoring services. Fusion Fuel's clientele includes natural gas networks and grids, oil refineries, ammonia producers, regulators, and government departments, demonstrating the broad applicability and market reach of its solutions.
Financially, Fusion Fuel continues to capture investor interest, evidenced by its regular communication and updates through live conference calls and webcasts. For instance, the company hosts events accessible through its website, providing investors with the latest performance metrics, project updates, and strategic insights.
Fusion Fuel's commitment to innovation and sustainability is further highlighted by its receipt of multiple awards and grants, reinforcing its leadership position in the green hydrogen industry. As the demand for clean energy solutions grows, Fusion Fuel Green PLC remains at the forefront, driving the transition to a hydrogen-powered future.
Fusion Fuel Green PLC (NASDAQ: HTOO) has signed a binding agreement to acquire ~70% of Quality Industrial Corp. (QIND), a gas supply and services company. The deal involves issuing 19.99% of Fusion Fuel's ordinary shares plus convertible preferred shares. QIND's operating business, Al Shola Gas, reported $11 million revenue and $1.8 million net income in 2023, with Q4 revenue and net income up 19.5% and 12.4% respectively. The acquisition aims to integrate complementary expertise and recurring revenue, while expanding both companies' market presence. Notably, Fusion Fuel's Portuguese subsidiary has filed for insolvency, marking a strategic shift towards hydrogen engineering and advisory services.
Fusion Fuel Green has issued a damages claim against Hydrogenial S.A. for failing to fund a $33.5 million Subscription Agreement signed on August 28, 2024. The agreement involved Hydrogenial purchasing 43,790,850 Class A shares and warrants for 13,137,254 additional shares. Despite meeting all closing conditions for the September 30, 2024 deadline and receiving a revised closing date of October 25, 2024, Hydrogenial has not provided the promised funds. As a direct result, Fusion Fuel Portugal S.A., the company's Portuguese subsidiary responsible for technology sales and project development, has filed for insolvency. The company is now exploring strategic alternatives to preserve shareholder value.
Fusion Fuel Green PLC received a Staff Determination Notice from Nasdaq due to non-compliance with the minimum $10 million stockholders' equity requirement. The company reported stockholders' equity of $3,022,125 in its 2023 Form 20-F. Despite submitting a compliance plan and requesting transfer to The Nasdaq Capital Market, Fusion Fuel failed to complete necessary transactions by the November 4, 2024 deadline. While facing potential delisting, the company has appealed the determination, which temporarily stays the suspension of its securities pending the Panel's decision.
Fusion Fuel Green Plc has received a notice from Nasdaq indicating non-compliance with the minimum bid price requirement of $1.00 per share. The company's Class A ordinary shares, trading under the symbol HTOO, have been below this threshold for 31 consecutive business days from June 18 to August 1, 2024. Fusion Fuel Green has until January 29, 2025, to regain compliance by maintaining a closing bid price of at least $1.00 for a minimum of 10 consecutive business days. The notice does not immediately affect the company's listing on The Nasdaq Global Market. If compliance is not achieved by the deadline, an additional 180-day period may be granted. The company plans to monitor the situation and consider options to meet the requirement.
Fusion Fuel Green (NASDAQ: HTOO), an emerging leader in the green hydrogen sector, reported its financial results for Q1 2024. Key highlights include IPCEI approval for a 630 MW HEVO-Portugal project and raising approximately €6 million through an at-the-market program. The company was awarded a €1.015 million grant from the European Commission as part of the H2tALENT consortium and received provisional grant approval for a 25 MW HEVO-Aveiro project.
Subsequent events include drawing down the first tranche of a Macquarie convertible note facility worth $1.15 million and completing the installation of a 300 kW HEVO-Chain system for a global cement major. Fusion Fuel also signed a tech sale contract for a 100 kW HEVO-Chain system for a hospital in Iberia. The company has implemented a strategic portfolio approach, forming commercial relationships with potential for multiple follow-on projects.
Fusion Fuel (NASDAQ: HTOO) announced a 100 kW electrolyzer supply contract for a hospital in Iberia, aiming to generate green hydrogen for emissions-free power and capture green oxygen for medical use.
The project includes R&D efforts to develop and test new materials for their HEVO micro-electrolyzer technology, potentially leading to additional revenue from technology and equipment supply.
This initiative marks Fusion Fuel's entry into the healthcare sector and underscores its commitment to innovative clean energy solutions.
Fusion Fuel Green (NASDAQ: HTOO) announced a live conference call and webcast scheduled for June 5, 2024. The company will discuss its first-quarter financial results and operational highlights. Key topics include the 1Q24 financial review, market and commercial updates, and 2024 milestones and priorities. The webcast begins at 10:00am ET, with participant dial-in details provided. A playback will be available online post-event.
Fusion Fuel Green, listed on Nasdaq under symbol HTOO, received a deficiency notice from Nasdaq on May 8, 2024. The notice cited that the company's reported shareholders' equity of $3,022,125 for fiscal year ending December 31, 2023, falls short of the minimum $10,000,000 required by Nasdaq's listing rules. Fusion Fuel has 45 days to submit a plan to regain compliance. If accepted, Nasdaq may grant an extension of up to 180 days. Alternatively, the company could apply to transfer its listing to the Nasdaq Capital Market. The notice does not immediately affect the trading of HTOO shares.
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