Fusion Fuel Green PLC (HTOO) has a growing pile of engineering work in the United Arab Emirates. The company said its UAE subsidiary, Al Shola Gas, held 87 liquefied petroleum gas (LPG) engineering contracts worth approximately $5.2 million (19.2 million dirhams) as of Oct. 14, 2026.
Work has begun on 56 of those contracts, which account for 74% of the portfolio's value. The remaining 31 are waiting on site readiness and approvals. The portfolio includes 13 change orders but excludes separate LPG distribution contracts.
What's Been Booked, What's Still Coming
By Sept. 30, Al Shola Gas had recognized approximately $1 million in engineering revenue. It expects another $1 million in the fourth quarter and $2.2 million in 2027. About $1 million more is expected after 2027, depending on how projects progress.
In September, Al Shola Gas secured six Dubai engineering subcontracts with an estimated combined value of $290,000. The projects include residential buildings, a villa and an 80-unit commercial kitchen facility.
Separately, the company received a formal work order for a $939,000 residential development in Motor City, first announced Aug. 20. That amount is already included in the portfolio and excludes September's new awards.
Fusion Fuel CEO Frederico Figueira de Chaves said the company submitted an additional $13.6 million in project proposals awaiting client evaluation and contract awards.
Completed installations could generate recurring LPG supply opportunities, supporting Fusion Fuel's strategy to diversify revenue and develop long-term cash flows.
Guidance Stays Put
Fusion Fuel expects revenue of 16 million euros to 18 million euros (approximately $18 million to $20 million) in 2026, representing growth of 11% to 25% from 14.4 million euros in 2025.
The forecast includes expected engineering revenue from Al Shola Gas, plus contributions from LPG distribution, BrightHy Solutions, and BioSteam Energy.
HTOO Price Action: Fusion Fuel Green shares were up 1.73% at $1.76 during premarket trading on Wednesday, according to market data.
