Company: Fusion Fuel Green PLC
Ticker: $HTOO
List: NASDAQ
Market cap: $ 65 MUSD at time of publication
Share price: $ 4,79 USD at time of publication
Industry: Green hydrogen using solar energy
Comparable peers: Green hydrogen systems, Next hydrogen, Aker Clean hydrogen, Hydrogenpro
Website: https://www.fusion-fuel.eu/
Target price by analysts: $16 USD*
*Target price is set by external analysts and not ESGFIRE
read more below.
ESGFIRE comment:
ESGFIRE is positively surprised by another technology sale by Fusion Fuel PLC announced today 6/10 2022 which is a $2 million tech sale with KEME Energy (“KEME”) to supply its solar-to-hydrogen system for a 1.22 MW green hydrogen project located in Sines, Portugal. Only one week ago on 29/9 2022 the company announced a tech sale worth $5 million for another green hydrogen project. Our assessment is that both orders will be delivered in 2023 and that revenues for both projects will likely fall into next years fiscal year. Fusion Fuel PLC in its last earnings report for Q2 stated the following:
“We have several third party sales in our pipeline, seven of which are in more advanced stages of development, and total over 507 HEVO-Solar units that represents over EUR 25 million in potential revenue in 2023. Our expectations for our current Fusion Fuel development projects to count for the balance of our production in 2023 and 2024.
Almost all of our projects have grants which make them more competitive to our customers from a pricing standpoint, and financially attractive to investors. We’ve secured over EUR 40 million in grants and plan to hear back shortly on additional programs as Frederico mentioned in C-5 in Portugal, and also the Porto program in Spain, which we’ve already been notified of awards.”
Seeing as the company already has secured about 30 % of its pipeline for 2023 we feel confident that management should be able to deliver on its sales pipeline.
The average Target price by analysts for Fusion Fuel is currently 190 % and todays order reaffirms our beleive that Fusion Fuel is the right pick as a stock in the hydrogen sector!
Link to full press release below :
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