Recorded on April 16 2026
Fusion Fuel Green PLC trades on Nasdaq under HTOO. In this interview, John-Paul Backwell and Frederico Figueira de Chaves break down how Fusion Fuel is trying to build a diversified energy platform with current cash flow from its UAE gas business and longer-dated upside from natural gas and uranium royalties. Andy presses them on what is actually producing today, where the revenue comes from right now, and why management believes the current gas business is the real engine while royalties and BioSteam create future upside. The conversation also digs into the South Africa BioSteam rollout, the first Fairfield Dairies installation, the timing uncertainty around uranium royalties, and how management thinks about quality passive revenue versus operating cash flow. They also address share structure, warrants, dilution concerns, and why they believe the company can move toward needing less outside capital over time. If you follow small-cap energy stories, royalty optionality, micro-cap execution, or companies trying to bridge current revenue with future upside, this interview lays out the thesis clearly. #Millettian
Key topics
Diversified energy platform strategy
UAE gas utility and LPG distribution
Natural gas royalties producing today
Uranium royalties and timeline uncertainty
BioSteam Energy and Fairfield Dairies
Bright Hydrogen and the company transition
Share structure, warrants, and capital strategy
Company links
https://www.fusion-fuel.eu
https://www.fusion-fuel.eu/investors-data-room
https://www.fusion-fuel.eu/investors-data-room/governance
https://www.fusion-fuel.eu/investors-data-room/finance-and-filings
Host Andy Millette Natural Resource Stocks
Website https://www.NaturalResourceStocks.net
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X https://x.com/theandymillette
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Chapters
00:00 Cold open
02:05 Intro and company overview
05:06 Royalties versus operating revenue
08:18 UAE footprint and customer base
10:44 LPG pricing and margin stability
13:22 BioSteam and South Africa rollout
17:26 Uranium royalty timing
19:07 Share structure and warrants
24:35 Website and closing
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