Fusion Fuel Posts €6.9M H1 Revenue and Eyes Hydrogen Expansion
Fusion Fuel Green PLC (NASDAQ: HTOO) posted first-half 2025 revenue of €6.9 million, marking its first material sales as an integrated LPG and hydrogen platform. The results reflect the November 2024 acquisition of Quality Industrial Corp.’s LPG operations, while the company also reported a reduced operating loss of €2.9 million, down from €7.9 million a year earlier.
The company raised more than $8 million year-to-date, which supported debt repayment and simplified its capital structure through note conversions and equity raises. Fusion Fuel also regained full Nasdaq compliance after a 1-for-35 share consolidation earlier this year.
Operationally, the company’s Al Shola Gas subsidiary secured $4.5 million in new engineering contracts and $1.7 million in annual supply agreements, supported by high-margin bulk fuel operations. Meanwhile, BrightHy Solutions advanced hydrogen projects with new tenders and a planned €30 million joint venture to finance mid-scale hydrogen plants in Europe, expected to begin contributing to revenue in late 2025.
On the M&A front, Fusion Fuel signed Heads of Terms to acquire a UK fuel distributor generating $50 million in annual revenue and $12 million in net income, alongside a planned 51% joint venture to develop a biomass-powered steam project in South Africa. Both transactions remain subject to definitive agreements and closing conditions.
CEO John-Paul Backwell described 2025 as “the most important period in our company’s history,” highlighting a strategic turnaround and the transition toward scalable, profitable growth.
The company reaffirmed full-year 2025 revenue guidance of €17.4 million, representing a 70% year-on-year increase, supported by pipeline growth across its hydrogen and LPG businesses.