Established in Dublin, Ireland, in 2018, Fusion Fuel Green PLC is dedicated to hydrogen production, with its core operations concentrated in Portugal, ...
Fusion Fuel Green PLC (NASDAQ: HTOO) is an integrated green hydrogen and energy solutions company headquartered in Dublin, Ireland, with core operations concentrated across Portugal and Southern Europe, and also Morocco. The company was established in 2018 and later became publicly traded via a NASDAQ listing (IPO date shown as ...Fusion Fuel Green PLC (NASDAQ: HTOO) is an integrated green hydrogen and energy solutions company headquartered in Dublin, Ireland, with core operations concentrated across Portugal and Southern Europe, and also Morocco. The company was established in 2018 and later became publicly traded via a NASDAQ listing (IPO date shown as 2020-12-10 in the provided dataset).
Business model and services: Fusion Fuel’s offering centers on enabling green hydrogen production through specialized hydrogen generators and an associated operational “plant-in-a-box” style proposition. In practice, the company supports customers in green hydrogen production by (1) selling its specialized hydrogen generators to customers for installation at green hydrogen production sites, (2) supplying green hydrogen directly from its own facilities, and (3) providing operational and monitoring support for plants that use its generator technology. This multi-pronged model can reduce the barrier to adoption for customers that want to deploy hydrogen production capacity while relying on Fusion Fuel’s technology and expertise.
Products/technology focus: The company is categorized within renewable utilities and clean energy services, reflecting its positioning in the hydrogen value chain. Its specialized generator technology is designed to support green hydrogen production (i.e., hydrogen produced with low/zero-carbon electricity inputs), and the monitoring and operational support suggests an emphasis on performance management and reliability after deployment.
Geography and customer types: The dataset indicates its customer base spans natural gas networks and grids, ammonia manufacturers, oil refineries, and regulatory/governmental organizations—typical counterparties that may require hydrogen for industrial processes, energy system integration, or decarbonization programs.
Scale and key people: As of the latest referenced period, Fusion Fuel Green PLC employed about 131 full-time employees, placing it in the 101–200 bracket. Frederico Figueira de Chaves serves as Chief Executive Officer (CEO). The company is described as having leadership continuity, with the provided CEO references noting his return to the role after prior stints.
Financial/operating context (high level): The provided financial snapshot (TTM) includes negative profitability indicators (e.g., negative operating and net profit margins) and negative free cash flow measures, which is common for early-stage industrial infrastructure and technology commercialization businesses that require capital for expansion, equipment, and project development. Several liquidity/coverage ratios are also shown as weak (e.g., current ratio below 1.0 and negative operating cash flow coverage measures), implying ongoing investment and/or working-capital strain. Market valuation figures in the dataset show a relatively small market capitalization compared with many large utilities, consistent with a growth-stage clean energy operator.
Cost, BOM, and program execution: Specific bill-of-materials (BOM) disclosures are not included in the provided dataset. However, for hydrogen generator deployments and hydrogen supply contracts, cost structure typically involves (at minimum) electrolysis/generation equipment, balance-of-plant components, installation/integration, commissioning, operations/maintenance, monitoring systems, and power-availability dependencies. Given the company’s emphasis on generator commercialization and monitoring support, a portion of costs is likely recurring (O&M, systems support) in addition to initial capital deployment for projects.
Outlook and “wishes” (strategic objectives): While not explicitly stated in the dataset, the company’s mission and commercial focus generally align with scaling commercialization of green hydrogen technology, expanding installed capacity and/or offtake supply, and improving financial performance as projects mature—moving from technology demonstration and early operations toward higher utilization, more stable revenues, and improved cash generation. For investors and partners, the core watch items typically include deployment pipeline execution, customer adoption rates, unit economics per installation, and progress toward positive operating cash flow.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$13.8M
+762.7%
-0.2%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-1.6M
+88.2%
+130.7%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+27.9%
+2.6%
-12.6%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-64.2%
+94.0%
-111.7%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-11.8%
+98.6%
+130.8%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-8.2M
+2.9%
-306.7%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-59.4%
+88.7%
-307.6%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
13.6%
-22.1%
-39.1%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
0.53x
-2.0%
+28.3%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Ben Schwarz: Hello everyone. Welcome to Fusion Fuel Green’s First Quarter 2024 Investor Update. My name is Ben Schwarz, and I lead Investor Relations. I would like to first remind everyone that some of the information provided during the conference call may contain statements of future expectations and other forward-looking statements. These expectations are based on management’s current views and assumptions and involve known and unknown risks and uncertainties. It’s possible that our actual results and financial condition may differ from the anticipated results and financial condition indicated in these forward-looking statements. For discussion of some of the risks and important factors that affect Fusion Fuel’s future results, please see the risk factors in the company’s latest annual report on Form 20-F filed with the SEC. Fusion Fuel assumes no obligation to update or revise any forward-looking information provided during the conference call and shall not be liable for any action taken in reliance upon such information. So, with that out of the way, thank you again for joining us today. I’ll briefly run through our agenda. As always, I’ll begin with an overview of Fusion Fuel, followed by some observations on the market and industry dynamics within the green hydrogen space. Gavin and Frederico will then review first quarter highlights, subsequent developments and commercial updates, including a deep dive into our pipeline, before wrapping up by checking in on our progress against our 2024 priorities. We’ll then open up the floor for facilitated Q&A. As in previous quarterly calls, questions can be entered in the chat box in the webcast platform at any point during the next hour. Alternatively, you can also submit your questions to the Investor Relations mailbox, which is ir@fusion-fuel.eu. So, without further ado, let’s begin again with a brief refresher on Fusion Fuel, our value prop, and positioning in the green hydrogen sector. So Fusion Fuel’s mission unchanged is to unlock the energy transition through the design and development of innovative green hydrogen solutions. Again, at the heart of everything we do is our proprietary HEVO micro-electrolyzer technology. It employs a simplified modular design and decentralized parallel architecture that unlocks multiple sources of advantage for us, including superior long-term performance, market-leading efficiency and high-throughput industrialized production. Our micro-electrolyzer technology lends itself to a turnkey building block approach to project development that delivers unprecedented flexibility and enables us to play competitively in small- to mid-scale projects, a segment of the market where we continue to see considerable demand growth. We’ve developed a complementary end-to-end service proposition that positions us to deliver solutions for our clients no matter where they are in their hydrogen journey, enabling us to capture a meaningfully greater portion of project spend. We’ve …