Fusion Fuel Green PLC (HTOO) Q2 2025 Earnings Call Prepared Remarks Transcript
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 17 2025
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Should l Buy HTOO?
Source: SeekingAlpha
Revenue EUR 6.9 million for the first half of 2025, up 70% year-over-year. Growth attributed to the consolidation of Al Shola Gas and increased engineering and maintenance contracts.
Operating Costs EUR 3 million for the first half of 2025, a decrease of around 60% year-over-year. Reduction due to closure of loss-making activities in Portugal and restructuring efforts.
Recurring Revenue from Al Shola Gas Approximately $1.7 million in annual recurring revenue from new gas supply agreements. Growth driven by increased demand in Dubai's expanding economy.
New Engineering and Installation Contracts (Al Shola Gas) $6.7 million secured in the first half of 2025. Growth supported by Dubai's infrastructure development and population growth.
Bright Hydrogen Solutions Revenue Target Targets revenues of up to EUR 5 million by 2026. Growth expected from secured tenders and strategic partnerships in the hydrogen sector.
Cost Reduction Operating expenses reduced by more than 50% year-over-year. Achieved through closure of loss-making activities and leaner operations.
Convertible Notes EUR 4.3 million of total liabilities removed from the balance sheet through note conversions and repayments, reducing outstanding notes to approximately EUR 1.5 million.
Bright Hydrogen Investment Vehicle Secured a EUR 30 million capital commitment for hydrogen projects. Aimed at supporting attractive hydrogen projects with strong investment cases.
Al Shola Gas Growth On track to exceed its year-over-year growth average of 30%. Growth driven by $1 million investment and increased engineering contracts.
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About HTOO
Fusion Fuel Green PLC is an Ireland-based holding company. The Company provides full-service energy engineering and advisory solutions. It specializes in green hydrogen and broader industrial gas applications. It has developed a Proton Exchange Membrane (PEM) electrolyzer, known as the Direct Coupled Photo Electrochemical Hydrogen Generator (the HEVO), which is used to produce green hydrogen. The HEVO technology incorporates a modular building-block architecture designed for small-to-midscale green hydrogen projects. Its focus is on research and development related to HEVO technologies. It is a supplier of electrolyzer technology for third-party-led and owned projects and offers engineering and procurement services for developers constructing hydrogen plants. Its solar-to-green hydrogen plant, H2Evora, comprises approximately 15 HEVO-Solar generators equipped with generation of HEVO micro-electrolyzer. Its subsidiaries are Fusion Fuel Spain, S.L., Fusion Fuel USA, Inc., and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Fusion Fuel Reports 2025 Fiscal Year Financial Highlights
- Significant Revenue Growth: Fusion Fuel's revenue for fiscal year 2025 reached approximately €14.4 million, a staggering 798.1% increase from €1.6 million in 2024, primarily driven by the full-year consolidation of Al Shola Gas, indicating strong expansion potential in the energy services market.
- Gross Profit Surge: The gross profit for FY 2025 was approximately €4.2 million, up 855.4% from €0.4 million in FY 2024, demonstrating substantial progress in cost control and operational efficiency, thereby enhancing profitability.
- Operating Loss Reduction: The operating loss decreased significantly from €17.3 million in 2024 to €7.9 million in 2025, a 54.4% reduction, reflecting effective cost management and restructuring initiatives that improved financial health.
- Strategic Restructuring Progress: Fusion Fuel signed a share exchange agreement with Royal Uranium for the acquisition of up to 100% of its equity, which is expected to provide exposure to rapidly growing energy demand, further advancing the company's transition to a diversified energy platform.
See More
FUSION FUEL ANNOUNCES €14.4 MILLION REVENUE INCREASE FOR FISCAL YEAR 2025 AND SHARES BUSINESS UPDATE
- Revenue Growth: Fusion Fuel reports a revenue growth to €14.4 million for the fiscal year 2025.
- Business Update: The report provides insights and updates regarding the company's business operations and future outlook.
See More
Quality Industrial Appoints New CEO Carsten Falk
- Executive Change: Quality Industrial has appointed Carsten Falk as CEO, succeeding John-Paul Backwell who resigned for personal and health reasons, indicating the company's commitment to leadership stability during transitions.
- Dual Role: Falk will continue to serve as interim CFO alongside his new CEO role, reflecting the company's strategy to maintain financial management continuity and ensure uninterrupted business operations during this period.
- Extensive Experience: Since June 2025, Falk has been Head of M&A at Fusion Fuel Green PLC, and previously served as CCO and CEO at Quality Industrial, showcasing his leadership capabilities across various sectors, which may bring new growth opportunities to the company.
- Industry Background: Falk has held senior roles in SaaS, FMCG, and energy sectors, including CEO of Domino’s Pizza Denmark from 2013 to 2019, providing Quality Industrial with valuable industry insights for strategic development.
See More
Fusion Fuel Acquires 2% NSR Royalty from Royal Uranium
- Royalty Acquisition: Fusion Fuel plans to acquire a 2% Net Smelter Return (NSR) royalty from Royal Uranium on mineral claims MC00040006 and MC00040007, which is expected to enhance the company's mining investment portfolio in the Asia-Pacific region.
- Resource Potential: The Shea Creek Joint Venture has discovered four uranium deposits in the Western Athabasca Basin, with a 2022 technical report estimating uranium resources at 67.57 million pounds, indicating strong expansion potential that could drive future revenue growth.
- Market Demand: Global uranium demand is projected to reach 397 million pounds by 2040, a 118% increase from 2025 levels, while supply is expected to grow only 14%, creating an estimated annual deficit of approximately 197 million pounds, underscoring the importance of developing-stage resources.
- Strategic Partnership: Through the transaction with Royal Uranium, Fusion Fuel will gain long-term investment opportunities in uranium and natural gas resources, expected to enhance its market position in energy commodities in a capital-efficient manner.
See More
FUSION FUEL NAMES URANIUM INVESTOR JAMES PASSIN TO BOARD AS IT PURSUES URANIUM ROYALTY STRATEGY
Appointment Announcement: Fusion Fuel has appointed James Passin, an investor in uranium, to its board of directors.
Strategic Focus: The company is undertaking a strategy focused on uranium royalty investments.
See More
Fusion Fuel Green Secures $1.16 Million Contracts in Dubai
- Contract Award: Fusion Fuel Green PLC's Middle East subsidiary has secured two engineering subcontracts totaling approximately $1.16 million for residential projects in Dubai, indicating steady demand for liquefied petroleum gas infrastructure in the region.
- Scope of Work: The subcontracts encompass the design, supply, installation, testing, and commissioning of centralized LPG systems for multiple buildings, with work commencing immediately in line with construction schedules.
- Operational Expansion: To support operational growth, Al Shola Gas has ordered a compact LPG delivery vehicle and expects two additional bobtail trucks to arrive by March 2026, enhancing delivery capacity and service coverage.
- Management Commentary: CEO John-Paul Backwell stated that these contracts will add meaningful engineering revenue to their Middle East operations and reinforce the value of their gas infrastructure capabilities, highlighting opportunities for expansion in engineering services and LPG distribution.
See More
Fusion Fuel Reports 2025 Fiscal Year Financial Highlights
- Significant Revenue Growth: Fusion Fuel's revenue for fiscal year 2025 reached approximately €14.4 million, a staggering 798.1% increase from €1.6 million in 2024, primarily driven by the full-year consolidation of Al Shola Gas, indicating strong expansion potential in the energy services market.
- Gross Profit Surge: The gross profit for FY 2025 was approximately €4.2 million, up 855.4% from €0.4 million in FY 2024, demonstrating substantial progress in cost control and operational efficiency, thereby enhancing profitability.
- Operating Loss Reduction: The operating loss decreased significantly from €17.3 million in 2024 to €7.9 million in 2025, a 54.4% reduction, reflecting effective cost management and restructuring initiatives that improved financial health.
- Strategic Restructuring Progress: Fusion Fuel signed a share exchange agreement with Royal Uranium for the acquisition of up to 100% of its equity, which is expected to provide exposure to rapidly growing energy demand, further advancing the company's transition to a diversified energy platform.
See More
FUSION FUEL ANNOUNCES €14.4 MILLION REVENUE INCREASE FOR FISCAL YEAR 2025 AND SHARES BUSINESS UPDATE
- Revenue Growth: Fusion Fuel reports a revenue growth to €14.4 million for the fiscal year 2025.
- Business Update: The report provides insights and updates regarding the company's business operations and future outlook.
See More
Quality Industrial Appoints New CEO Carsten Falk
- Executive Change: Quality Industrial has appointed Carsten Falk as CEO, succeeding John-Paul Backwell who resigned for personal and health reasons, indicating the company's commitment to leadership stability during transitions.
- Dual Role: Falk will continue to serve as interim CFO alongside his new CEO role, reflecting the company's strategy to maintain financial management continuity and ensure uninterrupted business operations during this period.
- Extensive Experience: Since June 2025, Falk has been Head of M&A at Fusion Fuel Green PLC, and previously served as CCO and CEO at Quality Industrial, showcasing his leadership capabilities across various sectors, which may bring new growth opportunities to the company.
- Industry Background: Falk has held senior roles in SaaS, FMCG, and energy sectors, including CEO of Domino’s Pizza Denmark from 2013 to 2019, providing Quality Industrial with valuable industry insights for strategic development.
See More
Fusion Fuel Acquires 2% NSR Royalty from Royal Uranium
- Royalty Acquisition: Fusion Fuel plans to acquire a 2% Net Smelter Return (NSR) royalty from Royal Uranium on mineral claims MC00040006 and MC00040007, which is expected to enhance the company's mining investment portfolio in the Asia-Pacific region.
- Resource Potential: The Shea Creek Joint Venture has discovered four uranium deposits in the Western Athabasca Basin, with a 2022 technical report estimating uranium resources at 67.57 million pounds, indicating strong expansion potential that could drive future revenue growth.
- Market Demand: Global uranium demand is projected to reach 397 million pounds by 2040, a 118% increase from 2025 levels, while supply is expected to grow only 14%, creating an estimated annual deficit of approximately 197 million pounds, underscoring the importance of developing-stage resources.
- Strategic Partnership: Through the transaction with Royal Uranium, Fusion Fuel will gain long-term investment opportunities in uranium and natural gas resources, expected to enhance its market position in energy commodities in a capital-efficient manner.
See More
FUSION FUEL NAMES URANIUM INVESTOR JAMES PASSIN TO BOARD AS IT PURSUES URANIUM ROYALTY STRATEGY
Appointment Announcement: Fusion Fuel has appointed James Passin, an investor in uranium, to its board of directors.
Strategic Focus: The company is undertaking a strategy focused on uranium royalty investments.
See More
Fusion Fuel Green Secures $1.16 Million Contracts in Dubai
- Contract Award: Fusion Fuel Green PLC's Middle East subsidiary has secured two engineering subcontracts totaling approximately $1.16 million for residential projects in Dubai, indicating steady demand for liquefied petroleum gas infrastructure in the region.
- Scope of Work: The subcontracts encompass the design, supply, installation, testing, and commissioning of centralized LPG systems for multiple buildings, with work commencing immediately in line with construction schedules.
- Operational Expansion: To support operational growth, Al Shola Gas has ordered a compact LPG delivery vehicle and expects two additional bobtail trucks to arrive by March 2026, enhancing delivery capacity and service coverage.
- Management Commentary: CEO John-Paul Backwell stated that these contracts will add meaningful engineering revenue to their Middle East operations and reinforce the value of their gas infrastructure capabilities, highlighting opportunities for expansion in engineering services and LPG distribution.
See More
