Fusion Fuel Highlights First Quarter 2026 Financial Results of Majority-Owned Subsidiary Quality Industrial Corp., Highlighted by Return to Profitability and Significant Operating Expense Reduction

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QIND Achieves Positive Net Income and Operating Income While Reducing Operating Expenses by Approximately 56.6% Year-Over-Year Al Shola Gas Awarded 16 New Engineering Subcontracts Subsequent to Quarter-End with Aggregate Expected Value of Approximately $1.14 Million DUBLIN, Ireland, May 15, 2026 (GLOBE NEWSWIRE) -- Fusion Fuel Green PLC (Nasdaq: HTOO) ("Fusion Fuel" or the "Company"), a leading provider of full-service energy engineering, advisory, and utility solutions , today highlighted certain financial results for the first quarter ended March 31, 2026, as reported by the Company’s majority-owned subsidiary, Quality Industrial Corp. (OTCID: QIND) (“QIND”), and provided an update on QIND’s business progress. For the three months ended March 31, 2026, QIND reported the following results: In addition, QIND reported that Al Shola Gas was awarded 16 new LPG engineering subcontracts subsequent to quarter-end with aggregate expected value of approximately $1.14 million. Frederico Figueira de Chaves, Chief Executive Officer of Fusion Fuel, commented, "The first quarter of 2026 reflects continued progress in our strategic pivot toward cash-generating industrial operations and demonstrates the operational improvements achieved across the business over the past year. QIND delivered revenue growth, increased gross margin, significantly reduced operating expenses, and returned to both operating income and positive net income during the first quarter of 2026. Importantly, these improvements were achieved while continuing to meet customer demand and expand our engineering services pipeline through new contract awards and business development opportunities." Sanjeeb Safir, Managing Director of Al Shola Gas, stated, “Our strong performance in the first quarter, delivering top-and-bottom line growth, is a testament to the resilience of our business model and the proactive measures taken by our teams to navigate a turbulent global landscape. While geopolitical volatility has introduced unforeseen complexities in supply chains and energy costs, our commitment to disciplined capital allocation and strategic adaptability has not only allowed us to mitigate these risks but to identify new avenues for growth. As we move into the second quarter of 2026, we remain confident that our focus on efficiency will continue to deliver long-term valu...

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