Fusion Fuel Green PLC (NASDAQ: HTOO) has signed non-binding Heads of Terms to acquire a privately held UK fuel distribution business for £50 million, marking a significant strategic expansion for the energy services company. The acquisition will be financed through £40 million in debt and £10 million in Fusion Fuel ordinary shares.
The target company demonstrates strong financial performance, reporting fiscal year 2025 revenues of $58 million and net income of $7 million, with minimal existing debt. CEO John-Paul Backwell emphasized that the acquisition aligns with the company's strategy to build a diversified and synergistic energy portfolio.
This strategic move complements Fusion Fuel's existing operations, particularly its Al Shola Gas brand, which provides comprehensive industrial gas solutions including design, supply, and maintenance of liquefied petroleum gas (LPG) systems. The acquisition is expected to enhance the company's market position and operational capabilities in the energy services sector.
The transaction represents a significant step in Fusion Fuel's growth strategy, potentially expanding its market reach and creating new opportunities for cross-sector integration. By acquiring a well-performing fuel distribution business, the company is positioning itself to leverage synergies between its existing subsidiaries and the newly acquired assets.
