Fusion Fuel Green PLC (NASDAQ: HTOO) has made a strategic decision to acquire a privately held UK-based fuel distribution business for £50 million, marking a significant step in its expansion within the energy services sector. This acquisition, financed through £40 million in debt and £10 million in Fusion Fuel ordinary shares, targets a company with robust financials, including $58 million in revenues and $7 million in net income for fiscal year 2025, alongside minimal existing debt.
CEO John-Paul Backwell highlighted the acquisition's alignment with Fusion Fuel's vision to diversify and synergize its energy portfolio. The move is poised to enhance the company's existing operations, especially its Al Shola Gas brand, known for its comprehensive industrial gas solutions. Al Shola Gas, a subsidiary of Fusion Fuel, excels in the design, supply, and maintenance of liquefied petroleum gas (LPG) systems, as well as managing LPG transport and distribution across various sectors.
Additionally, Fusion Fuel's BrightHy platform, focusing on innovative hydrogen solutions and decarbonization services for hard-to-abate industries, benefits from this strategic acquisition. This deal is a testament to Fusion Fuel's commitment to growth and diversification, reinforcing its position in the competitive energy services market.
