Fusion Fuel Green PLC (NASDAQ:HTOO) saw its stock surge 50% following the announcement that its majority-owned subsidiary, Al Shola Al Modea Gas Distribution LLC, secured new liquefied petroleum gas (LPG) contracts in Dubai, United Arab Emirates.
The agreements, confirmed in July 2025, cover installation, maintenance, and bulk supply of LPG systems for multiple large-scale residential and commercial developments throughout Dubai. The biggest contracts exceed AED 1.9 million (around $517,000).
Key projects include a 20-story residential tower with 722 apartments valued at AED 885,000 ($241,000) and an 8-story mixed-use building combining commercial and residential spaces worth AED 850,000 ($232,000). Additional smaller contracts collectively total about AED 200,000 ($54,000).
Since early 2025, Al Shola Gas has consistently supplied between 580 and 630 metric tons of bulk LPG monthly, alongside 160 to 180 metric tons of LPG cylinders, reflecting strong demand in the UAE market.
John-Paul Backwell, Fusion Fuel’s CEO, stated, “The engineering team at Al Shola Gas is now fully booked for the next 18 months due to the substantial growth in orders and project backlog.” He added that these new contracts are set to significantly bolster the company’s project pipeline in upcoming quarters.
The company sees these contracts as further validation of its strategic focus on expanding its energy services footprint across the Gulf region, aligning with its mission to provide sustainable energy solutions.
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