The following is a summary of the Fusion Fuel Green PLC (HTOO) Q1 2024 Earnings Call Transcript:
Financial Performance:
Fusion Fuel Green PLC reported no revenue for Q1 2024.
They raised net proceeds of €5.9 million through their ATM facility in February.
They received provisional grant approval for the HEVO-Aveiro project, estimated at €5 million in funding.
The pre-tax loss for Q1 2024 was €5.1 million.
Business Progress:
Fusion Fuel's proprietary HEVO micro-electrolyzer technology continues to be at the core of their projects.
They have developed strategic commercial relationships and are delivering small- to mid-scale hydrogen projects.
Installation of the 300-kilowatt HEVO-Chain system for a global cement leader continues, with commissioning expected to start soon.
They signed a technology sale contract for a 100-kilowatt HEVO-Chain system for a hospital in Iberia.
Opportunities:
Fusion Fuel is well-positioned in the market for small- to mid-scale green hydrogen projects, especially due to the high demand in sectors like commercial mobility, steel, cement manufacturing, and other industrial applications.
They have a considerable pipeline of over 200 megawatts of offers made to clients across more than a dozen countries, predominantly for projects under 10 megawatts.
Risks:
The company acknowledges the unsurity around their capital position and how it feeds into a valuation disconnect with their competitors.
There is a noted delay and complexity in large project negotiations and executions, as seen with the IPCEI project and others.
More details: Fusion Fuel Green IR
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