Fusion Fuel unit signs $1.4m LPG subcontracts in Dubai
Fusion Fuel Green (Nasdaq: HTOO), the Dublin-headquartered diversified energy platform, has announced that its UAE subsidiary Al Shola Al Modea Gas Distribution (Al Shola Gas) signed 10 liquefied petroleum gas (LPG) engineering subcontracts during June and July 2026 with a combined anticipated value of approximately $1.4 million. The projects span residential developments across several Dubai districts and are expected to serve more than 3,450 homes.
Three subcontracts were awarded in June, accounting for the bulk of the value at roughly $1.24 million combined. The largest is a multi-tower residential scheme in Motor City with approximately 2,974 apartments and an engineering value of around $945,500. The remaining seven, valued at a combined $175,000, cover sites in Karama, Oud Metha, Dubailand, Al Quoz and Dubai Investments Park. The Company separately announced an LPG supply agreement with an unnamed Abu Dhabi-based hospitality group covering catering and food production units, which it says could generate between $820,000 and $1.09 million in revenue over approximately 18 months if additional supply projects are awarded as contemplated.
The deal
Beyond engineering fees, Al Shola Gas expects to earn recurring annual utility revenue from several completed projects. The Motor City and Studio City schemes, alongside other properties, are projected to generate combined annual utility revenue of between $805,000 and $1.02 million. Chief executive Frederico Figueira de Chaves said the awards reflect the "continued momentum" of the engineering and utility services business and support "a growing base of predictable, long-term cash flows." All revenue projections are conditional on project completion, contractor approvals and performance thresholds being met, and the company's forward-looking statements carry the standard material-risk disclaimers.
It is worth noting that LPG is a fossil-derived fuel. Fusion Fuel frames Al Shola Gas as part of a diversified platform that also includes BrightHy Solutions, a hydrogen engineering and advisory unit, and BioSteam Energy, a biomass-powered industrial steam business. The company also holds uranium and natural gas royalty interests in Canada, Colombia and Argentina through a subsidiary called Royal Uranium Inc.
Market context
The UAE's rapid residential construction pipeline, particularly in Dubai's newer masterplan districts, creates recurring demand for centralised gas infrastructure services. LPG systems in high-density residential developments typically generate long-duration utility revenue once engineering handover is complete, providing developers with recurring cash flow that is relatively insulated from spot commodity-price swings.
Fusion Fuel's pivot toward UAE gas distribution marks a material shift from its origins as a green-hydrogen technology developer. The company's Nasdaq ticker HTOO reflects that earlier positioning, and the press release's hydrogen and biomass subsidiaries remain mentioned without disclosed revenue figures or project milestones. Investors tracking the stock for its cleantech credentials should note that LPG distribution is the current primary revenue driver, and the announced subcontracts are modest in scale relative to typical infrastructure project finance thresholds. The hospitality supply agreement is further conditional on performance requirements and has not reached a final contracted volume or price.