$HTOO Fusion Fuel Announces Over $1.2 Million in New Gas Engineering Projects for Subsidiary Al Shola Gas, Building on Strong 2025 Contract Momentum
June 24, 2025 12:05 ET
| Source: Fusion Fuel Green plc
DUBLIN, June 24, 2025 (GLOBE NEWSWIRE) -- via IBN – Fusion Fuel Green PLC (Nasdaq: HTOO) ("Fusion Fuel" or the "Company"), a leading provider of full-service energy engineering, advisory, and utility solutions, today announced that its majority-owned operating subsidiary, Al Shola Al Modea Gas Distribution LLC (“Al Shola Gas”), has secured an additional AED 4.4 million (~$1.2 million USD) in new engineering and utility projects across Dubai, United Arab Emirates.
These latest awards follow the Company’s May 22, 2025, announcement that Al Shola Gas had secured over $2.7 million in engineering contracts and 1,800 new residential service contracts since the beginning of the year. The cumulative project awards reflect continued commercial momentum and strengthening demand for Al Shola Gas’s turnkey solutions in the UAE’s fast-growing energy infrastructure market.
Overview of New Engineering Projects
Dubai Marina Development—DBOM contract for 620 residential apartments and 5 retail outlets. The total contract value is AED 885,000. All units will be serviced under utility agreements.
Business Bay Tower – High-rise with 3 basements, ground floor, 32 residential levels – 242 apartments and 3 retail outlets. Contract value: AED 395,000.
Satwa Mid-Rise Development – 13 floors plus roof access – 240 apartments. The total contract value is AED 2.6 million.
Additional Cluster Projects – Four smaller projects across Dubai, collectively valued at AED 520,000.
All new projects will convert to recurring revenue through Al Shola Gas’s long-term utility service contracts.
“We continue to see strong demand for our end-to-end energy infrastructure solutions, particularly in Dubai’s high-density residential sector,” said Sanjeeb Safir, Managing Director of Al Shola Gas. “These contracts build on the strong base established earlier this year and reinforce our positioning as the partner of choice for developers requiring reliable, compliant, and efficient LPG system delivery and service.”
Update on Utility Business and Bulk LPG Supply
With the addition of these new projects, Al Shola Gas continues to expand its utility billing footprint, which surpassed 12,000 active customers earlier this year. The Company expects continued growth in recurring revenue as contracted assets are commissioned.
Bulk LPG supply remains robust, with current volumes consistently exceeding 600 metric tons per month, supported by organic growth of 10–20 metric tons monthly. With additional delivery capacity expected to come online, Al Shola Gas maintains its target of reaching 800 metric tons monthly by year-end.
“These awards are a clear continuation of the momentum we outlined in our May update,” said John-Paul Backwell, CEO of Fusion Fuel. “The combination of engineering revenue and high-margin recurring utility income represents the execution of our strategy to build durable, cash-generating infrastructure assets in the region.”
About Fusion Fuel Green PLC
Fusion Fuel Green PLC (NASDAQ: HTOO) is an emerging leader in the energy services sector, offering a comprehensive suite of energy supply, distribution, and engineering and advisory solutions through its Al Shola Gas and BrightHy brands. Al Shola Gas provides full-service industrial gas solutions, including the design, supply, and maintenance of liquefied petroleum gas (LPG) systems, as well as the transport and distribution of LPG to a broad range of customers across commercial, industrial, and residential sectors. BrightHy, the Company’s newly launched hydrogen solutions platform, delivers innovative engineering and advisory services enabling decarbonization across hard-to-abate industries.
Forward-Looking Statements
This press release includes “forward-looking statements.” Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target”, “may”, “intend”, “predict”, “should”, “would”, “predict”, “potential”, “seem”, “future”, “outlook” or other similar expressions (or negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Fusion Fuel has based these forward-looking statements largely on its current expectations, which are based on assumptions as to future events that may not prove to be accurate, and are subject to inherent uncertainties, risks, and assumptions that are difficult to predict. Such forward-looking statements are subject to risks and uncertainties, including without limitation, those set forth in Fusion Fuel’s Annual Report on Form 20-F for the year ended December 31, 2024, filed with the Securities and Exchange Commission on May 9, 2025, which could cause actual results to differ from the forward-looking statements.
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