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 appointed Luisa Ingargiola to its Board of Directors, effective February 24, 2025. Ingargiola will serve as chairperson of the Audit Committee, replacing Rune Magnus Lundetrae, who remains on the Board. She will also join the Nominating Committee, Audit Committee, and Compensation Committee.
The Board now consists of six directors, with four classified as independent directors under Nasdaq Listing Rules. Ingargiola currently serves as Chief Financial Officer of Avalon GloboCare Corp. (Nasdaq: ALBT) and holds board positions at Vision Marine Technologies (Nasdaq: VMAR) and BioCorRx Inc. (OTCQB: BICX), where she chairs the Audit Committees. She previously served as CFO and co-founder of BBHC, Inc. Ingargiola holds a Business Administration degree from Boston University and a Master of Health Administration from the University of South Florida.
Fusion Fuel Green PLC (HTOO) has received a decision from the Nasdaq Hearings Panel regarding its listing status. The panel found the company compliant with Rule 5550(b)(1), which requires minimum stockholders' equity of $2,500,000. The company has been granted exceptions with specific deadlines to meet other listing requirements:
1. By June 29, 2025: Must hold an annual shareholder meeting (Rule 5620(a))
2. By July 28, 2025: Must achieve a minimum bid price of $1.00 per share (Rule 5550(a)(2)), maintaining it for at least 10 consecutive business days. The Nasdaq hearing was held on January 7, 2025.
Fusion Fuel Green PLC (HTOO) announced its transfer from Nasdaq Global Market to Nasdaq Capital Market, effective February 3, 2025. The company received an additional 180-day period until July 28, 2025, to regain compliance with the $1.00 minimum bid price requirement. The company may implement a reverse share split to meet this requirement.
Additionally, as reported on January 13, 2025, Fusion Fuel was notified of non-compliance with Nasdaq's annual meeting requirement, having not held a shareholder meeting within twelve months of the fiscal year ended December 31, 2023. The company's securities will continue trading under symbols 'HTOO' and 'HTOOW' with no anticipated material impact on equity trading.
Fusion Fuel Green PLC (NASDAQ: HTOO) announced a leadership transition as Gavin Jones steps down as Chief Financial Officer, effective January 24, 2025. The company has appointed Frederico Figueira de Chaves as Interim CFO, who previously served in the same role from 2020 to 2023.
Jones will continue as Company Secretary to ensure a smooth transition. Figueira de Chaves, currently serving as Chief Strategy Officer and Head of Hydrogen Solutions, will maintain these responsibilities alongside his new interim CFO role. He will be supported by the existing in-house finance team.
The transition occurs at a strategic time as Fusion Fuel focuses on expanding its hydrogen solutions and gas services businesses. The company aims to strengthen its position in integrated energy solutions under the new financial leadership.
Fusion Fuel Green PLC (NASDAQ: HTOO) has reported significant developments in its Al Shola Gas subsidiary between November 2024 and January 2025. The company secured new orders and renewals worth approximately $3.5 million, including an exclusive LPG supply contract renewal in the residential sector and multiple supply and installation projects across manufacturing, hospitality, and construction segments.
CEO JP Backwell highlighted that the gas business continues to generate meaningful cash flows in Middle East markets, serving as a profitable foundation for Fusion Fuel. The company plans to expand its bulk LPG supply capabilities through infrastructure investment and aims to broaden its geographical reach and service offerings to meet growing customer demand.
Fusion Fuel Green PLC (HTOO) has announced a significant improvement in its equity position, with pro forma stockholders' equity reaching approximately $12.0 million as of January 10, 2025. This enhancement reflects several recent transactions, including the Quality Industrial Corp. acquisition in November 2024 and a January 10, 2025 concurrent private placement of $1.28 million in senior convertible notes, along with entry into a $25 million equity line of credit.
These strategic moves aim to ensure long-term compliance with Nasdaq Listing Rule 5550(b)(1), which mandates a minimum stockholders' equity of $2.5 million for continued listing on The Nasdaq Capital Market. The company's detailed pro forma balance sheet is available through SEC filings and their investor relations website.
Fusion Fuel Green PLC (HTOO) has secured two financial arrangements: a $1.28 million senior convertible notes private placement and a $25 million equity line of credit. The convertible notes, issued at a 20% original issue discount, will mature in July 2026 with an 8% annual interest rate and include warrants providing 100% equity coverage.
The equity line of credit will allow Fusion Fuel to sell up to $25 million in newly issued Class A ordinary shares at its discretion, subject to certain conditions including SEC registration. CEO John-Paul Backwell stated this capital infusion will strengthen near-term liquidity and support the expansion of their Al Shola Gas business while enabling the launch of their BrightHy solutions platform.
Fusion Fuel Green Plc (NASDAQ: HTOO) has announced an upcoming Investor Update Presentation scheduled for December 12, 2024, at 09:30 a.m. ET. The presentation will cover three main areas: a comprehensive Fusion Fuel overview including recent developments, the QIND transaction, and NASDAQ compliance; an Al Shola Gas Business Update detailing operations and performance; and a Hydrogen Solutions Overview focusing on progress and future objectives.
The presentation materials will be accessible on the company's website Events page, with a recording available for replay after the event.
Fusion Fuel Green (NASDAQ: HTOO) has completed its acquisition of a controlling stake in Quality Industrial Corp. (QIND) through a share exchange. The company announced key leadership changes, with John-Paul Backwell appointed as CEO and joining the Board, while former CEO Frederico Figueira de Chaves transitions to Chief Strategy Officer and Head of Hydrogen Solutions. The acquisition aims to strengthen Fusion Fuel's position in energy engineering and services. The company faces a Nasdaq delisting appeal hearing scheduled for January 7, 2025, but management expects to meet stockholder equity requirements after consolidating financials.
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.
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