HTOO · Fusion Fuel Green PLC

Fusion Fuel Green PLC highlighted the first quarter 2026 financial results of its majority-owned subsidiary Quality Industrial Corp. (QIND), which reported a return to profitability. QIND's revenue increased 1.4% year-over-year to $3.67 million, driven by its 51%-owned subsidiary Al Shola Gas. Gross profit rose 4.7% to $1.0 million. Total operating expenses declined significantly by 56.6% to $0.8 million, leading to income from operations of $0.18 million compared to a loss of $0.95 million in the prior year. Net income was $0.1 million versus a net loss of $1.3 million. Additionally, Al Shola Gas was awarded 16 new LPG engineering subcontracts subsequent to quarter-end with an aggregate expected value of approximately $1.14 million. Management commentary emphasized the strategic pivot toward cash-generating industrial operations and operational improvements. The merger of QIND into Fusion Fuel remains subject to shareholder and Nasdaq approvals, and the company is exploring alternative transactions. The results demonstrate improved operational efficiency and profitability at the subsidiary level.