Fusion Fuel Green PLC Subsidiary Secures $1.2 Million in UAE Energy Projects
TL;DR
Fusion Fuel Green's subsidiary Al Shola Gas secures AED 4.4 million in Dubai projects, expanding its customer base and enhancing its market position in the utility sector.
Al Shola Gas's new projects in Dubai involve long-term utility agreements, aiming to increase monthly LPG volumes to 800 metric tons by year-end.
Fusion Fuel Green's expansion in Dubai contributes to sustainable energy solutions, supporting the transition to cleaner fuels in high-density developments.
Discover how Fusion Fuel Green is innovating in the energy sector with its Al Shola Gas subsidiary's latest projects and hydrogen solutions platform.
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Fusion Fuel Green PLC (NASDAQ: HTOO) announced that its majority-owned subsidiary, Al Shola Al Modea Gas Distribution LLC, has secured AED 4.4 million (approximately $1.2 million USD) in new engineering and utility projects across Dubai. These projects, located in areas such as Dubai Marina, Business Bay, and Satwa, are expected to generate recurring revenue through long-term utility agreements. This development adds to the over $2.7 million in contracts the company disclosed in May, signaling a significant expansion of its operations in the UAE.
The subsidiary's customer base now exceeds 12,000, with bulk LPG volumes surpassing 600 metric tons monthly, and a year-end target of 800 metric tons. The growing demand for turnkey LPG systems in high-density developments underscores the strategic importance of these projects. Fusion Fuel Green's executives highlighted the company's focus on cash-generating utility infrastructure as a key driver of its growth strategy in the energy services sector.
This announcement is significant as it reflects the increasing demand for energy solutions in high-density urban areas and Fusion Fuel Green's ability to capitalize on this trend. The expansion of Al Shola Gas's operations not only strengthens the company's position in the UAE's energy market but also contributes to the broader transition towards sustainable energy infrastructure in the region.
Curated from InvestorBrandNetwork (IBN)
