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Fusion Fuel Announces New LPG Projects for Subsidiary Al Shola Gas
GlobeNewswire News Room· 2025-07-25 12:00
Core Insights - Fusion Fuel Green PLC announced new projects through its subsidiary Al Shola Al Modea Gas Distribution LLC, focusing on liquefied petroleum gas (LPG) systems in Dubai, UAE [1][4] Project Details - The largest new projects are valued at over AED 1.9 million (approximately $517,000), including a 20-floor residential building with 722 apartments valued at AED 885,000 (approximately $241,000) and an 8-floor mixed-use development valued at AED 850,000 (approximately $232,000) [2] - Additional contracts have a total estimated value of approximately AED 200,000 (approximately $54,000), contributing significantly to Al Shola Gas's project pipeline [3] Market Demand - Since the beginning of 2025, Al Shola Gas has averaged between 580 and 630 metric tons (MT) of bulk LPG and 160 to 180 MT of LPG in cylinders per month, indicating strong demand for LPG in the UAE market [4] Strategic Outlook - The CEO of Fusion Fuel highlighted that these new orders enhance Al Shola Gas's market presence and support the company's strategy to grow its energy services platform in the Gulf region, with a fully booked engineering team for the next 18 months [4]
Fusion Fuel Announces Over $2.7 Million in New Contracts and Substantial Utility Growth through Al Shola Gas
Globenewswire· 2025-05-22 12:00
Core Viewpoint - Fusion Fuel Green PLC's subsidiary, Al Shola Al Modea Gas Distribution LLC, has secured significant new contracts and expanded its service portfolio, indicating strong growth potential in the energy services sector, particularly in the UAE market [1][7]. Overview of New Contracts – Engineering Projects - Al Shola Gas has signed engineering contracts valued at approximately $2.7 million since March 2025, covering design, supply, installation, maintenance, and operations [2]. Overview of New Contracts – Residential Utilities - The company has added over 1,800 residential service contracts for LPG utility solutions across 16 buildings in Dubai, projecting an annual recurring revenue of about $0.9 million, increasing its customer base to over 12,000 [4]. Overview of New Contracts – Commercial Utilities - Al Shola Gas has also secured two commercial LPG supply and maintenance contracts for food and beverage facilities, now managing monthly billing for over 170 outlets [5]. Overview of Bulk LPG Supply - The bulk LPG supply has consistently exceeded 600 metric tons (MT) monthly, with an organic growth rate of 10 to 20 MT per month. The company anticipates reaching 800 MT per month by year-end due to new fleet additions [6].