DUBLIN, Jan. 13, 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, announced that it has closed a $1.28 million senior convertible notes private placement with certain institutional investors. In addition to the convertible notes, Fusion Fuel has also entered into an agreement with an institutional investor for a $25 million equity line of credit, which, upon the satisfaction of certain conditions, will provide the Company with access to additional capital to support its operational and strategic growth initiatives.
The senior convertible notes, issued at a 20% original issue discount, mature in July 2026 and carry an 8% annual interest rate. The Company also issued warrants to the noteholders, providing 100% equity coverage.
The equity line of credit agreement will enable Fusion Fuel to sell up to $25 million in newly issued Class A ordinary shares to the investor at the Company’s discretion, subject to satisfaction of certain conditions, including the filing and effectiveness of a registration statement with the U.S. Securities and Exchange Commission (the “SEC”), market conditions, and certain regulatory requirements.
John-Paul Backwell, Chief Executive Officer of Fusion Fuel, commented: “This infusion of capital marks a crucial first step for Fusion Fuel, strengthening our near-term liquidity and providing the runway needed to advance several key initiatives. In particular, the equity line of credit gives us the flexibility to scale further and expand the offerings of our profitable Al Shola Gas business while laying a strong foundation for launching our BrightHy solutions platform. These investments are critical to positioning Fusion Fuel as a leader in the energy services sector and driving long-term value creation for our stakeholders.”
The proceeds from the senior convertible notes and equity line of credit are expected to strengthen the Company’s balance sheet, provide working capital, and support key strategic and growth initiatives across its core markets.
Additional information regarding the terms of the senior convertible notes, the related warrants, and the equity line of credit can be found in the Company’s reports on Form 6-K furnished to the SEC on January 13, 2025.
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.
