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Fusion Fuel Green PLC
HTOOCIK 0001819794NasdaqNon-AcceleratedEmerging GrowthMisc Industrial & Commercial Machinery & EquipmentL2IEFY ends Dec 31
Period
FY 2024
Revenue
—
Net Income
—
Total Assets
—
Equity
—
Shares Out
2.29M
Op. Cash Flow
—
Business
Fusion Fuel Green PLC operates as an industrial energy company whose current operations consist primarily of Quality Industrial Corp. (QIND) and its 51%-owned subsidiary, Al Shola Gas. It provides LPG distribution in both cylinder and bulk formats and delivers engineering, design, installation, maintenance, and consulting services for LPG systems and central gas networks. Its key business components include the gas distribution and engineering services segment and legacy green hydrogen subsidiaries whose electrolyzer business ceased in 2024. The company serves markets in the United Arab Emirates and broader Middle East, and historically engaged in projects and sales across Europe (including Portugal and Spain) through project-based EPC, supply and distribution channels.
Summary from filing dated 2025-05-09
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | Dec 31, 2025 2025-12-31 | Dec 31, 2024 2024-12-31 | Dec 31, 2023 2023-12-31 |
|---|---|---|---|---|
| Total Revenue | 14 | 2 | 4 | |
| Cost of sales | 10 | 1 | 20 | |
| Gross profit (loss) | 4 | 437,000 | −16 | |
| Operating expenses | — | — | — | |
| Non-Operating Income (Expense) | 1 | 881,000 | 199,000 | |
| Administration expenses | 12 | 16 | 16 | |
| Research and development expense | — | — | 2 | |
| Share-based payment (expense)/ credit | 2 | 2 | 1 | |
| Impairment expense | 2,000 | — | 2 | |
| Operating loss | −8 | −17 | −37 | |
| Net finance income | — | — | — | |
| Interest Income | 2 | 293,000 | 51,000 | |
| Interest payable and similar expense | −24,000 | −525,000 | 58,000 | |
| Finance costs | — | 525,000 | 544,000 | |
| Derivative financial instruments at FVTPL | −3 | −462,000 | −7 | |
| Net finance income/ (costs) | 6 | 230,000 | 6 | |
| Income from Equity Method Investments | — | — | −245,000 | |
| Exceptional items: | — | — | — | |
| Profit on deconsolidation of subsidiary | 1 | 2 | — | |
| (Loss) / profit before tax | −1 | −15 | −31 | |
| Income tax credit / (expense) | −110,000 | 25,000 | 159,000 | |
| Total comprehensive (loss) / income for the year | −952,000 | −15 | −31 | |
| Comprehensive Income, Net | −742,000 | −54,000 | — | |
| Net income / (loss) attributable to HTOO stockholders | −2 | −15 | — | |
| Earnings Per Share (Basic) | −1.27 | −29.05 | −74.11 | |
| Earnings Per Share (Diluted) | −1.27 | −29.05 | −74.11 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | Dec 31, 2025 2025-12-31 | Dec 31, 2024 2024-12-31 |
|---|---|---|---|
| Non-current assets | — | — | |
| Property, Plant and Equipment | 1 | 307,000 | |
| Intangible Assets | 22 | 24 | |
| Goodwill | 7 | 7 | |
| Long-term deposits | 255,000 | — | |
| Other Non-Current Assets | — | — | |
| Total non current assets | 30 | 31 | |
| Current assets | — | — | |
| Total Current Assets | — | — | |
| Total Current Assets | 5 | 3 | |
| Inventory | 171,000 | 1 | |
| Deposits and advances | 520,000 | 748,000 | |
| Total Current Assets | — | — | |
| Cash and Cash Equivalents | 575,000 | 214,000 | |
| Contract Assets | — | — | |
| Other Current Assets | 114,000 | — | |
| Total current assets | 6 | 5 | |
| Total assets | 36 | 36 | |
| Non-current liabilities | — | — | |
| Trade and other payables - Leases | 281,000 | 155,000 | |
| Other payables - long-term | 3 | 6 | |
| Deferred income | — | — | |
| Total non-current liabilities | 3 | 7 | |
| Current liabilities | — | — | |
| Accounts Payable | 9 | 10 | |
| Total Current Liabilities | — | — | |
| Deferred Income | 321,000 | — | |
| Cost accruals | 1 | 1 | |
| Total Current Liabilities | 181,000 | 6 | |
| Short-Term Debt | 2 | 2 | |
| Total current liabilities | 12 | 14 | |
| Net Assets | 21 | 15 | |
| Equity | — | — | |
| Share capital - preferred | — | 0 | |
| Share capital | 9,000 | 3,000 | |
| Additional Paid-In Capital | 241 | 242 | |
| Share based payments reserve | 8 | 7 | |
| Other equity reserve | 7 | 24,000 | |
| Retained Earnings | −240 | −238 | |
| Noncontrolling Interest | 4 | 4 | |
| Total equity | 21 | 15 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | Dec 31, 2025 2025-12-31 | Dec 31, 2024 2024-12-31 | Dec 31, 2023 2023-12-31 |
|---|---|---|---|---|
| Statement of cash flows [abstract] | — | — | — | |
| Cash flows from operating activities | — | — | — | |
| Net loss for the 12 months | −952,000 | −15 | −31 | |
| Adjusted for: | — | — | — | |
| Equity settled share based payments | 2 | 2 | 1 | |
| Fair value movement in derivative financial instruments-warrants | −3 | −627,000 | −7 | |
| Depreciation & Amortization (CF) | 147,000 | 3 | 3 | |
| Finance (costs) / income | 3 | −471,000 | 115,000 | |
| Share of losses of equity-accounted investee | — | — | −245,000 | |
| Onerous contract provision | — | — | −8 | |
| Impairment losses on assets | 4 | 268,000 | 5 | |
| Administration expenses: Loss/gain on sale of tangible assets | 195,000 | −4,000 | — | |
| Impairment on inventory | — | 2 | 14 | |
| Impairment on revenue | — | 1 | — | |
| Stock issued for Services | 137,000 | — | −205,000 | |
| Net Cash from Operating Activities | — | 25,000 | — | |
| Commitment fees | — | — | — | |
| Other income | −2 | −831,000 | — | |
| Discount on convertible Notes | 82,000 | 18,000 | — | |
| Profit / (loss) on deconsolidation due to insolvency | −1 | −2 | — | |
| Total adjustments | −5 | −10 | −22 | |
| Changes in working capital | — | — | — | |
| Change in Accounts Receivable | −2 | 1 | 3 | |
| Change in Inventory | 523,000 | −2 | −19,000 | |
| Net Cash from Operating Activities | −2 | 1 | 8 | |
| Interest paid | — | −314,000 | −549,000 | |
| Net Cash from Operating Activities | 55,000 | 822,000 | 2 | |
| Net cash used in operating activities | −8 | −8 | −9 | |
| Cash flows from investing activities | — | — | — | |
| Purchase of tangible assets | 322,000 | 11,000 | 9 | |
| Proceeds from sale of assets | 718,000 | 772,000 | 439,000 | |
| Development expenditure | — | 142,000 | 629,000 | |
| Purchase of intangible assets – other | — | 37,000 | 109,000 | |
| Receipt of government grants | — | 472,000 | 8 | |
| Payments to subsidiaries shareholders | 852,000 | — | — | |
| Investment in equity-accounted investees | — | — | 245,000 | |
| Net Cash from Investing Activities | — | −254,000 | — | |
| Net cash used in investing activities | −456,000 | 800,000 | −1 | |
| Cash flows from financing activities | — | — | — | |
| Proceeds from Stock Issuance | 2 | 6 | 3 | |
| Convertible note repayments | −198,000 | — | — | |
| Proceeds from PIPE issuance | 2 | — | — | |
| Proceeds from Debt Issuance | 1 | 1 | 1 | |
| Payment of lease liabilities | 184,000 | 752,000 | 1 | |
| Payments to subsidiaries | — | — | — | |
| Shareholder loan (repayment) / proceeds | 4 | — | 38,000 | |
| Net cash from financing activities | 9 | 6 | 3 | |
| Net increase/(decrease) in cash and cash equivalents | 182,000 | −1 | −7 | |
| Cash and cash equivalents at beginning of period | — | — | — | |
| Cash and cash equivalents on consolidation with QIND | — | 36,000 | — | |
| Transfer from restricted cash | — | — | 3 | |
| Net Change in Cash | 178,000 | 51,000 | −38,000 | |
| Cash and cash equivalents at end of period | — | — | — | |
| Add restricted cash | — | — | — | |
| Cash and cash equivalents at end of year including restricted cash | — | — | — |
Filings
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