Fusion Fuel Green (HTOO) stock rocketed higher on Tuesday after the hydrogen production company announced a €30 million collaboration. Bright Hydrogen Solutions, a subsidiary of Fusion Fuel Green, reached an agreement for hydrogen projects with an integrated green energy technologies provider.
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Under the terms of this deal, Bright Hydrogen Solutions’ partner would commit €30 million in capital over four years in mid-scale hydrogen infrastructure projects. The investments will range from €2 million to €5 million per project, with a limit of €10 million per project.
BrightHy Solutions CEO Frederico Figueira de Chaves said, “This initiative represents a significant step forward in our ambition to scale clean hydrogen solutions and deliver long-term value for our stakeholders.”
Fusion Fuel Green Stock Movement Today
Fusion Fuel Green stock was up 162.62% in pre-market trading on Tuesday, following a slight rally yesterday. However, the stock has dropped 78.27% year-to-date and 86.1% over the past 12 months. Today’s rally came with heavy trading, as some 13 million shares changed hands, compared to a three-month daily average of about 92,000 units.
Is Fusion Fuel Green Stock a Buy, Sell, or Hold?
Turning to Wall Street, coverage of Fusion Fuel Green stock is thin. Fortunately, TipRanks’ AI analyst Spark has it covered. Spark rates HTOO stock an Underperform (39) with a $4.50 price target, suggesting a 5.14% upside for the shares. It cites “ongoing losses and negative cash flows” as reasons for this stance.
