HTOO News & Events

Fusion Fuel Green highlighted potential royalty income tied to the 1.0% net smelter return royalty held by Royal Uranium on the Huemul Project, a 27,700-hectare uranium-copper-vanadium district in Mendoza Province, Argentina, centered on Argentina's first-ever producing uranium mine. Through Fusion Fuel's previously announced planned acquisition of a controlling interest in Royal Uranium, the Company expects to gain capital-efficient royalty exposure to potential future production from the Huemul Project.

Fusion Fuel announced that its indirect majority-owned subsidiary, Al Shola Al Modea Gas Distribution, an industrial gas engineering and distribution company, was awarded 16 new engineering subcontracts with a combined expected value of approximately $1.14M as of April. The awarded subcontracts encompass residential and mixed-use development projects across a number of locations in Dubai, United Arab Emirates, supporting infrastructure for several thousand residential units. The largest award within the portfolio is the Terra Heights dual-tower residential development in Expo City Dubai, with a contract value of approximately $0.5M, representing a significant multi-building LPG infrastructure project. The scope of work includes the design, engineering, supply, installation, testing, and commissioning of centralized liquefied petroleum gas systems, across a mix of low- to high-rise buildings, with project execution expected to begin immediately.

Fusion Fuel Green provided certain highlights of the uranium royalty portfolio anticipated to be acquired through its previously announced definitive agreement with Royal Uranium, highlighting a 2.0% Net Smelter Return royalty on the PLS Regional uranium exploration project, operated by Cameco Corporation in joint venture with Denison Mines Corp in Canada's Athabasca Basin. Upon closing of the Royal Uranium transaction, Fusion Fuel is expected to gain royalty exposure to exploration and potential future development activity in the Athabasca Basin without funding exploration or mine development capital. The PLS Regional royalty is one of 16 uranium royalty interests included in the Royal Uranium portfolio spanning the Athabasca Basin, Newfoundland, Colombia, and Argentina. Management believes the Royal Uranium transaction positions Fusion Fuel to build exposure to uranium exploration and development activity across multiple projects, operators and jurisdictions through a capital-efficient royalty structure. Fusion Fuel expects to highlight additional royalty assets within the portfolio in the coming weeks.