Fusion Fuel announces new, renewed utility contracts through ASG subsidiary

Fusion Fuel (HTOO) Green’s Al Shola Al Modea Distribution has signed two significant liquefied petroleum gas utility engineering and supply contracts for new residential developments in Dubai, United Arab Emirates, and renewed a number of similar contracts. Under the two contracts, which were signed in August and early September 2025, ASG will provide for the installation and connection of central gas supply systems for a total of 1,244 residential units. These services are expected to generate a combination of initial one-time project revenue totalling approximately AED 680,000, and recurring annual revenue from the supply and billing of LPG totalling approximately AED 650,000. Including these contracts, ASG’s aggregate LPG engineering revenues are expected to exceed $6.7 million in 2025. Associated bulk LPG supply contracts are expected to generate approximately $1.77 million in annual recurring revenue. In addition to these new contracts, ASG has renewed a number of engineering and LPG supply contracts in recent weeks, which are expected to bolster its recurring revenue stream. Collectively, the renewed contracts are expected to generate approximately AED 810,000 in continued annual recurring revenue, supporting the Company’s ongoing growth and enhanced stability of future earnings. Furthermore, ASG has signed a Letter of Intent for an additional engineering project, subject to final contract approval, which is anticipated within the near future.