Fusion Fuel Green PLC (NASDAQ: HTOO) has taken a significant step towards expanding its energy portfolio by signing non-binding Heads of Terms to acquire a privately held UK-based fuel distribution business for £50 million. This strategic acquisition, structured with £40 million in debt-financed cash and £10 million in Fusion Fuel ordinary shares, is poised to complement the company's existing operations and align with its vision for a diversified energy portfolio.
The target company, with its strong financial performance including fiscal year 2025 revenues of $58 million and a net income of $7 million, presents a valuable opportunity for Fusion Fuel Green. CEO John-Paul Backwell highlighted the acquisition's alignment with the company's strategic goals, particularly in enhancing its Al Shola Gas brand and broadening its service offerings in the energy sector.
Currently, Fusion Fuel Green operates through its subsidiaries, Al Shola Gas and BrightHy, offering energy engineering and advisory solutions. Al Shola Gas specializes in industrial gas solutions, including the design, supply, and maintenance of liquefied petroleum gas (LPG) systems, alongside transportation and distribution services across various sectors. The integration of the UK fuel distribution business is expected to significantly bolster Fusion Fuel Green's capabilities and market presence in the energy services sector.
This acquisition underscores Fusion Fuel Green's commitment to growth and diversification in a rapidly evolving energy landscape. By leveraging the strengths of the acquired business, Fusion Fuel Green aims to enhance its service offerings and strengthen its position as a comprehensive energy solutions provider.
