DUBLIN, Jan. 16, 2025 (GLOBE NEWSWIRE) -- via IBN - Fusion Fuel Green PLC (Nasdaq: HTOO) ("Fusion Fuel" or the "Company"), a leading provider of full-service energy engineering and advisory solutions, today announced that the Company's pro forma stockholders' equity as of January 10, 2025, is approximately $12.0 million. This pro forma amount reflects the impact of several recently completed transactions, including the acquisition of Quality Industrial Corp. in November 2024, and, on January 10, 2025, the concurrent private placement of $1.28 million in senior convertible notes and entry into a $25 million equity line of credit.
As a result, the Company has undertaken a number of transactions to achieve and demonstrate long-term compliance with Nasdaq Listing Rule 5550(b)(1), which requires a minimum stockholders' equity of $2.5 million for continued listing on The Nasdaq Capital Market tier of Nasdaq.
The Company's pro forma balance sheet as of January 10, 2025 reflecting these transactions was attached as an exhibit to a Report on Form 6-K that was furnished to the Securities and Exchange Commission on January 13, 2025, and is available on the SEC's website at https://www.sec.gov/ and in the Investor Relations section of the Company's website at https://fusion-fuel.eu/.
About Fusion Fuel Green plc
Fusion Fuel Green PLC (NASDAQ: HTOO) is an emerging leader in the energy services sector, offering a comprehensive suite of energy engineering and advisory solutions through its Al Shola Gas and BrightHy subsidiaries. Al Shola Gas provides full-service industrial gas solutions, including the design, supply, and maintenance of liquefied petroleum gas (LPG) systems, as well as the transport and distribution of LPG to a broad range of customers across commercial, industrial, and residential sectors. BrightHy, the Company's newly launched hydrogen solutions platform, focuses on delivering innovative engineering and advisory services that enable decarbonization across hard-to-abate industries.
Learn more about Fusion Fuel by visiting our website at https://www.fusion-fuel.eu and following us on LinkedIn.
Forward-Looking Statements
This press release includes "forward-looking statements." Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target", "may", "intend", "predict", "should", "would", "predict", "potential", "seem", "future", "outlook" or other similar expressions (or negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Fusion Fuel has based these forward-looking statements largely on its current expectations, including but not limited the ability of the investment reported on to be consummated as anticipated. Such forward-looking statements are subject to risks and uncertainties (including those set forth in Fusion Fuel's Annual Report on Form 20-F for the year ended December 31, 2023, filed with the Securities and Exchange Commission) which could cause actual results to differ from the forward-looking statements.
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