Loading...
Loading...
fusion-fuel-faces-insolvency-accuses-investor-of-breaching-33-5m-deal
© Fusion Fuel
fusion-fuel-faces-insolvency-accuses-investor-of-breaching-33-5m-deal
© Fusion Fuel

Fusion Fuel faces insolvency, accuses investor of breaching $33.5m deal

Portuguese-based hydrogen firm Fusion Fuel is filing for insolvency and suing investor Hydrogenial S.A., claiming it failed to follow through with $33.5m.

Having issued damages claimed against the investor and its director Norbert Bindner, Fusion Fuel says Hydrogenial had committed to buying 43.8 million shares with warrants to purchase 13 million more.

But the original closing date of September 30 passed and no funding had been made.

Despite Hydrogenial requesting an extension, which was granted until October 25, Fusion Fuel says it continued to receive no payments.

… to continue reading this article and more, please login, register for free, or consider subscribing to H2 View

Register today

Paywall Asset Header Graphic

You’ve reached your weekly limit to access free articles!

Want to keep reading?

Please register for free and create a profile to gain access to this full article and H2 View’s daily news.

For access to more content including our monthly digital magazines, subscriber-only features or columns and all our other H2 View archives, please consider subscribing.

Alternatively, you can continue reading more articles as a guest on Tuesday, 3rd December at 7:39PM

Please wait...