Al Shola Gas, Subsidiary of Fusion Fuel Green plc, Secures New and Renewed Utility Contracts in Dubai
Fusion Fuel Green PLC's subsidiary, Al Shola Al Modea Distribution LLC (Al Shola Gas), has secured two significant liquefied petroleum gas $(LPG)$ utility engineering and supply contracts for new residential developments in Dubai, United Arab Emirates. In addition to these new contracts, Al Shola Gas has renewed several existing contracts, collectively expected to generate approximately AED 810,000 (around $217,000) in annual recurring revenue. The new contracts will involve installing and connecting central gas supply systems for 1,244 residential units, generating initial project revenue of approximately AED 680,000 ($185,000) and recurring annual revenue of AED 650,000 ($177,000). Al Shola Gas's LPG engineering revenues are projected to exceed $6.7 million in 2025, with bulk LPG supply contracts contributing approximately $1.77 million in annual recurring revenue. These developments underscore Fusion Fuel's expanding presence in the UAE and its commitment to delivering long-term value for its shareholders.
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