Fusion Fuel Green PLC, represented by its ticker symbol HTOO, has entered into a binding agreement to acquire a 70% ownership interest in Quality Industrial Corp (QIND), an energy services company based in Dubai, United Arab Emirates. Quality Industrial, known for its operations in the energy sector with headquarters in Dubai, specializes in providing services through its subsidiary Al Shola Gas to over 40,000 customers in the Middle East, including prestigious clients such as Emirates Airlines and the Dubai Government. The acquisition deal involves Fusion Fuel issuing a combination of its ordinary shares and convertible preferred shares to the sellers of Quality Industrial. This move is seen as a strategic step for Fusion Fuel to expand its presence in both traditional and clean energy sectors, leveraging Quality Industrial's gas and utility capabilities along with Fusion Fuel's expertise in hydrogen engineering. In 2023, Al Shola Gas, a subsidiary of Quality Industrial, reported $11 million in revenue and $1.8 million in net income. Fusion Fuel plans to integrate this established revenue stream into its operations while also using this opportunity to extend its hydrogen engineering services into the Middle East and Europe. CEO Frederico Figueira de Chaves highlighted the significance of this acquisition in reinforcing Fusion Fuel's position in the energy market. Despite the challenges in the green hydrogen market, Chaves remains optimistic about the long-term growth prospects facilitated by this deal. As part of the acquisition, John-Paul Backwell is set to join Fusion Fuel's Board of Directors, while Alla Jezmir has resigned from the company's Board. The transaction is on track to close soon, pending the necessary regulatory approvals. Despite a 4.11% decrease in HTOO shares' trading value following the announcement, the sentiment surrounding the acquisition remains positive as it represents a strategic move towards market expansion.