Fusion Fuel Green PLC (NASDAQ: HTOO) has made a significant stride in expanding its energy portfolio by acquiring a UK-based fuel distribution business for £50 million. This strategic 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 debt.
CEO John-Paul Backwell highlighted the acquisition's alignment with Fusion Fuel's strategy to diversify and synergize its energy portfolio. The move is set to bolster the company's existing operations, notably its Al Shola Gas brand, which offers a wide range of industrial gas solutions. These solutions encompass the design, supply, and maintenance of liquefied petroleum gas (LPG) systems, as well as transport and distribution services across various sectors.
Furthermore, the acquisition supports Fusion Fuel's strategic goals through its BrightHy subsidiary, a platform dedicated to hydrogen solutions. BrightHy focuses on providing innovative engineering and advisory services aimed at decarbonizing industries that are difficult to abate. This acquisition underscores Fusion Fuel's commitment to enhancing its market position and technological prowess through carefully selected acquisitions, thereby creating significant value for its stakeholders.
