# EDGAR Filing Document

**Accession Number:** 0001819794
**File Stem:** 0001493152-25-024693
**Filing Date:** 2025-11
**Character Count:** 224108
**Document Hash:** 2bc9133e18a815d97c22a12c4d16b8a3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-25-024693.hdr.sgml**: 20251121

**ACCESSION NUMBER**: 0001493152-25-024693

**CONFORMED SUBMISSION TYPE**: F-3/A

**PUBLIC DOCUMENT COUNT**: 22

**FILED AS OF DATE**: 20251121

**DATE AS OF CHANGE**: 20251121

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Fusion Fuel Green PLC
- **CENTRAL INDEX KEY:** 0001819794
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRICAL INDUSTRIAL APPARATUS [3620]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 000000000
- **STATE OF INCORPORATION:** L2
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** F-3/A
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-287226
- **FILM NUMBER:** 251509002

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 10 EARLSFORT TERRACE
- **STREET 2:** DUBLIN 2
- **CITY:** DUBLIN
- **PROVINCE COUNTRY:** L2
- **BUSINESS PHONE:** 351 21 581 8802

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 10 EARLSFORT TERRACE
- **STREET 2:** DUBLIN 2
- **CITY:** DUBLIN
- **PROVINCE COUNTRY:** L2

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Fusion Fuel Green Ltd
- **DATE OF NAME CHANGE:** 20200731

**As filed with the Securities and Exchange Commission on November 21, 2025**

**Registration No. 333-287226** 

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

**PRE-EFFECTIVE AMENDMENT NO. 1 TO**

**FORM F-3**

**REGISTRATION STATEMENT UNDER** 

**THE SECURITIES ACT OF 1933**

**FUSION FUEL GREEN PLC**

(Exact name of registrant as specified in its charter)

**Not Applicable**

(Translation of registrant's name into English)

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| | |
|:---|:---|
| **Ireland** | **Not Applicable** |
| (State or other jurisdiction of <br> incorporation or organization) | (I.R.S. Employer <br> Identification Number) |

---

**9 Pembroke Street Upper<br> Dublin D02 KR83<br> Ireland<br> +353 1 961 9350**

(Address and telephone number of registrant's principal executive offices)

**CT Corporation System<br> 28 Liberty Street<br> New York, NY 10005<br> (212) 894-8940**

(Name, address, and telephone number of agent for service)

*Copies to:*

**Louis A. Bevilacqua, Esq.**

**Bevilacqua PLLC**

**1050 Connecticut Avenue, NW, Suite 500**

**Washington, DC 20036**

**(202) 869-0888**

**Approximate date of commencement of proposed sale to the public:** From time to time after this Registration Statement becomes effective.

If only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box. ☐

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box. ☒

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a registration statement pursuant to General Instruction I.C. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act, check the following box. ☐

If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.C. filed to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box. ☐

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933.

Emerging growth company ☒

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

† The term "new or revised financial accounting standard" refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

**The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act or until this registration statement shall become effective on such date as the Commission, acting pursuant to said Section 8(a), may determine.**

The information in this prospectus is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.

**SUBJECT TO COMPLETION, DATED NOVEMBER 21, 2025**

***PROSPECTUS***

**FUSION FUEL GREEN PLC**

**$34,000,000**

**Class A Ordinary Shares**

**Preferred Shares**

**Debt Securities**

**Warrants**

**Units**

This prospectus relates to the offering and sale from time to time of the class A ordinary shares with a nominal value of $0.0035 each ("Class A Ordinary Shares"), preferred shares with a nominal value of $0.0001 each ("preferred shares"), debt securities, warrants, or units of Fusion Fuel Green PLC, an Irish public limited company ("we," "us," "our," "our company," " Fusion Fuel," or the "Company"), up to $34,000,000 or its equivalent in any other currency, currency units, or composite currency or currencies in one or more issuances. We may sell any combination of these securities in one or more offerings.

This prospectus describes some of the general terms that may apply to these securities and the general manner in which they may be offered. The specific terms of any securities to be offered, and the specific manner in which they may be offered, will be described in a supplement to this prospectus or incorporated into this prospectus by reference. You should read this prospectus and any supplement carefully before you invest. Each prospectus supplement will indicate if the securities offered thereby will be listed or quoted on a securities exchange or quotation system.

**The information contained or incorporated in this prospectus or in any prospectus supplement is accurate only as of the date of this prospectus, or such prospectus supplement, as applicable, regardless of the time of delivery of this prospectus or any sale of our securities.**

Our Class A Ordinary Shares and public warrants are listed on The Nasdaq Capital Market tier of The Nasdaq Stock Market LLC ("Nasdaq") under the symbols "HTOO" and "HTOOW", respectively. On November 20, 2025, the last sale price of our Class A Ordinary Shares and public warrants on The Nasdaq Capital Market was $[\*] and $[\*], respectively.

As of November 20, 2025, the aggregate market value of our outstanding Class A Ordinary Shares held by non-affiliates was $10,757,793 based upon 2,013,403 outstanding Class A Ordinary Shares, of which 2,007,051 Class A Ordinary Shares were held by non-affiliates, and the last reported sale price of our Class A Ordinary Shares of $5.36 per share on September 24, 2025. Pursuant to General Instruction I.B.5. of Form F-3, in no event will we sell shares pursuant to this prospectus having a value exceeding more than one-third of our public float in any 12-month period so long as our public float remains below $75,000,000. In the event that subsequent to the date of this prospectus the aggregate market value of our outstanding Class A Ordinary Shares held by non-affiliates equals or exceeds $75,000,000, such one-third limitation on sales shall not apply to sales subsequently made pursuant to this prospectus. As of November 20, 2025, we have sold $2,808,813 of securities pursuant to General Instruction I.B.5 of Form F-3 during the 12-calendar month period that ends on and includes the date hereof.

On May 5, 2022, we filed with the SEC a registration statement on Form F-3 (File No. 333-264714) utilizing a shelf registration process, which registration statement was declared effective on May 13, 2022 (the "Prior Shelf Registration Statement"). Under the Prior Shelf Registration Statement, we were initially entitled to, from time to time, sell up to $75,000,000.00 in the aggregate of Class A Ordinary Shares, preferred shares, warrants, debt securities, or units, as to which a filing fee of $6,952.50 was previously paid. As of November 20, 2025, $16,340,056 of these securities remained unsold. Pursuant to Rule 415(a)(6) under the Securities Act ("Rule 415(a)(6)"), the offering of the unsold securities under the Prior Registration Statement will be deemed terminated as of the date of effectiveness of the registration statement to which this prospectus forms a part. $34,000,000 of the unsold securities is being registered hereby pursuant to Rule 415(a)(6), and $4,695.40 of the filing fee paid in connection with the unsold securities that were registered on the Prior Shelf Registration Statement will continue to be applied to such unsold securities.

In connection with the expiration of the Prior Shelf Registration Statement on May 13, 2025, we initially filed the registration statement of which this prospectus forms a part as a new shelf registration statement, with unsold securities and fees paid under the Prior Shelf Registration Statement rolled over herein.

We will provide the specific terms of the securities, and the manner in which they will be offered, in one or more supplements to this prospectus. Any supplement may also add, update or change information contained, or incorporated by reference, in this prospectus. You should read carefully both this prospectus and the applicable prospectus supplement, together with the additional information described under the heading "*Where You Can Find More Information; Documents Incorporated By Reference*," before you invest in our securities. The amount and price of the offered securities will be determined at the time of the offering.

The securities may be offered and sold in the same offering or in separate offerings, to or through underwriting syndicates managed or co-managed by one or more underwriters, through agents, or directly to purchasers. The names of any underwriters, dealers or agents involved in the sale of our securities, their compensation and any option to purchase additional securities held by them will be described in the applicable prospectus supplement. For general information about the distribution of securities offered, please see "*Plan of Distribution*" in this prospectus.

**Investing in our securities involves risks. You should carefully consider the risk factors beginning on page 5 of this prospectus, in any accompanying prospectus supplement and in any related free writing prospectus, and in the documents incorporated by reference into this prospectus, any accompanying prospectus supplement and any related free writing prospectus before making any decision to invest in our securities.**

**Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense.**

The date of this prospectus is , 2025

**TABLE OF CONTENTS**

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| | |
|:---|:---|
| [About This Prospectus](#sd_001) | 1 |
| [Prospectus Summary](#sd_002) | 2 |
| [Risk Factors](#sd_003) | 5 |
| [Cautionary Note Regarding Forward-Looking Statements](#sd_004) | 5 |
| [Use of Proceeds](#sd_005) | 5 |
| [Capitalization and Indebtedness](#sd_006) | 6 |
| [Description of Share Capital](#sd_007) | 6 |
| [Description of Debt Securities](#sd_008) | 17 |
| [Description of Warrants](#ak_011) | 26 |
| [Description of Units](#ak_001) | 27 |
| [Taxation](#ak_002) | 28 |
| [Plan of Distribution](#ak_003) | 28 |
| [Expenses of Issuance and Distribution](#ak_004) | 30 |
| [Legal Matters](#ak_005) | 30 |
| [Experts](#ak_006) | 30 |
| [Indemnification](#ak_007) | 31 |
| [Enforcement of Civil Liabilities](#ak_008) | 31 |
| [Material Changes](#ak_009) | 32 |
| [Where You Can Find More Information; Documents Incorporated By Reference](#ak_010) | 32 |

---

i

**ABOUT THIS PROSPECTUS**

This prospectus is part of a registration statement that we filed with the U.S. Securities and Exchange Commission (the "SEC"), using a "shelf" registration process. Under this shelf registration process, we may sell our securities described in this prospectus in one or more offerings up to a total dollar amount of $34,000,000 (or its equivalent in foreign or composite currencies).

This prospectus provides you with a general description of the securities that may be offered. Each time we offer our securities, we will provide you with a supplement to this prospectus that will describe the specific amounts, prices and terms of the securities we offer. The prospectus supplement may also add, update or change information contained in this prospectus. This prospectus, together with applicable prospectus supplements and the documents incorporated by reference in this prospectus and any prospectus supplements, includes all material information relating to this offering. Please read carefully both this prospectus and any prospectus supplement together with additional information described below under "*Where You Can Find More Information; Documents Incorporated By Reference*".

You should rely only on the information contained in or incorporated by reference in this prospectus and any applicable prospectus supplement. We have not authorized anyone to provide you with different or additional information. If anyone provides you with different or inconsistent information, you should not rely on it. We take no responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you. The information contained in this prospectus is accurate only as of the date of this prospectus, regardless of the time of delivery of this prospectus or any sale of securities described in this prospectus. This prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.

You should not assume that the information contained in this prospectus and the accompanying prospectus supplement is accurate on any date subsequent to the date set forth on the front of the document or that any information that we have incorporated by reference is correct on any date subsequent to the date of the document incorporated by reference. Our business, financial condition, results of operations and prospects may have changed since those dates.

For the avoidance of doubt, any offer of securities (within the meaning of the Prospectus Regulation (EU) 2017/1129 (the "Prospectus Regulation")) contained in this prospectus is addressed to less than 150 natural or legal persons per member state of the European Union ("EU") and accordingly, there is no legal obligation or requirement to publish this prospectus in the European Union in accordance with the provisions of the Prospectus Regulation.

**PROSPECTUS SUMMARY**

*This summary highlights selected information that is presented in greater detail elsewhere, or incorporated by reference, in this prospectus. It does not contain all of the information that may be important to you and your investment decision. Before investing in our securities, you should carefully read this entire prospectus, including the matters set forth under the section of this prospectus captioned "*Risk Factors*" and the financial statements and related notes and other information that we incorporate by reference herein, including, but not limited to, our annual reports on Form 20-F and our other reports.*

**Overview**

Our mission is to be a full-service integrated energy supply, distribution, and engineering and advisory solutions provider. We are strategically positioned to address critical energy requirements while anticipating future demands in the energy market.

We provide comprehensive green hydrogen project solutions, including advisory services, engineering, and project oversight. We offer end-to-end project management, supporting clients from the initial feasibility stage through to operation and maintenance. By designing plants specifically for clients' needs, without relying on predetermined specifications, we anticipate that we will ensure every solution is purpose-built. Our hydrogen service specializes in sustainability and innovation, aiming to become a leading provider of green hydrogen technologies globally. Our hydrogen services business is operated through our subsidiary Bright Hydrogen Solutions Limited, an Irish private limited company.

Through our controlling interest in Quality Industrial Corp., a Nevada corporation ("QIND"), we offer liquified petroleum gas ("LPG") distribution and services while expanding our presence across both the traditional and clean energy sectors. Our LPG division consists of the business of Al Shola Al Modea Gas Distribution LLC, a United Arab Emirates ("UAE") company ("Al Shola Gas") and 51%-owned subsidiary of QIND, which services over 36,000 customers in the Middle East, providing LPG distribution and engineering services. Al Shola Gas was established in 1980 and is approved by the Directorate General of Dubai Civil Defense, Government of Dubai, UAE, as a "Central Gas Contractor" and "LPG Supplier".

Biosteam Energy (Proprietary) Limited ("BioSteam Energy"), a Fusion Fuel 51%-owned joint venture company, provides biomass-powered industrial steam solutions to clients. In November 2025, BioSteam Energy commenced construction and equipment fabrication for its first biomass-powered industrial steam project at a major dairy processing facility in South Africa.

We are committed to achieving sustainable growth through a diversified energy portfolio. We aim to drive long-term value creation by supporting the global transition to clean energy solutions.

Our Class A Ordinary Shares are traded on The Nasdaq Capital Market under the ticker symbol HTOO and our public warrants are traded under the ticker symbol HTOOW.

**Corporate Information** 

Our principal executive offices are located at 9 Pembroke Street Upper, Dublin D02 KR83, Ireland, and our telephone number is +353 1 961 9350. Our corporate website is www.fusion-fuel.eu. Information available on our websites is not incorporated by reference in and is not deemed a part of this prospectus.

**The Securities We May Offer**

We may offer or sell Class A Ordinary Shares, preferred shares, debt securities, warrants, and units in one or more offerings and in any combination. The aggregate offering price of the securities we sell pursuant to this prospectus will not exceed $34,000,000. Each time securities are offered with this prospectus, we will provide a prospectus supplement that will describe the specific amounts, prices and terms of the securities being offered and the net proceeds we expect to receive from that sale.

The securities may be sold to or through underwriters, dealers or agents or directly to purchasers or as otherwise set forth in the section of this prospectus titled "*Plan of Distribution*". Each prospectus supplement will set forth the names of any underwriters, dealers, agents or other entities involved in the sale of securities described in that prospectus supplement and any applicable fee, commission or discount arrangements with them.

 ****

***Class A Ordinary Shares***

Each holder of our ordinary shares is entitled, subject to the right of the Company to set record dates for the purposes of determining the identity of shareholders entitled to notice of and/or to vote at a general meeting and the authority of the board of directors of the Company to maintain order and security, to receive notice of and to be present, to vote and to speak at general meetings. At any general meeting, a resolution put to the vote of the meeting will be decided on a poll. Subject to the Amended and Restated Constitution of the Company (the " Constitution") and to any rights or restrictions attached to any shares or class of shares, each holder of ordinary shares present in person or by proxy shall have one vote for each share registered in his or her name in the register of members of the Company. Voting may be in person or by proxy, attorney or representative. Two shareholders present in person or by proxy and having the right to attend and vote at the meeting and together holding shares representing more than 50% of the votes that may be cast by all members at the relevant time shall be a quorum at a general meeting (provided that at any meeting in which there is to be a vote on any of the actions requiring the consent of the holders of Class B Ordinary Shares with a nominal value of $0.0001 each ("Class B Ordinary Shares"), members holding shares representing more than 50% of the votes that may be cast by all the holders of the Class B Ordinary Shares shall be present in person or by proxy at such meeting to constitute a quorum) and no business may be transacted at any meeting except the election of a chair and the adjournment of the meeting unless a quorum is present when the meeting proceeds to business.

Subject to the Irish Companies Act 2014 ("Companies Act") and any preferential rights of any outstanding preferred shares, holders of our ordinary shares are entitled to receive ratably the dividends, if any, as may be declared from time to time by the board of directors out of legally available funds. If there is a winding up of the Company, holders of our ordinary shares would be entitled to share ratably in the total assets of the Company legally available for distribution to shareholders after the payment of all our debts and liabilities and any preferential rights of any outstanding preferred shares.

The rights attaching to the ordinary shares may be subject to the terms of issue of any series or class of preferred shares allotted by the board of directors of the Company from time to time.

 ****

***Preferred Shares***

Subject to the Companies Act, the Constitution authorizes the issuance of preferred shares, including preferred shares which are, at the option of the holders of shares of such series, convertible into shares of any other class or classes or of any one or more series of the same class or of another class or classes. Each preference share may confer on the holder the right to receive a preferential dividend, participate in and/or receive priority payments upon any liquidation, dissolution, or winding up, and receive a bonus issue or capitalization of profits, each to the extent determined by our board of directors. Preferred shares may have full or limited voting rights (if any). We have summarized some of the general terms and provisions of the preferred shares that we may issue in "*Description of Capital Shares*." A prospectus supplement will describe the particular terms of any issue of preferred shares offered from time to time and may supplement or change the terms outlined below.

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***Debt Securities***

We may offer any combination of senior debt securities or subordinated debt securities. The subordinated debt securities generally will be entitled to payment only after payment of our senior debt. Senior debt securities will be unsubordinated obligations and will rank equal with all our other unsubordinated debt. Subordinated debt securities will be paid only if all payments due under our senior indebtedness, including any outstanding senior debt securities, have been made. We may issue the senior debt securities and the subordinated debt securities under separate indentures between us, as issuer, and the trustee or trustees identified in a prospectus supplement. We have summarized some of the general terms and provisions of the debt securities that we may issue in "*Description of Debt Securities*". A prospectus supplement will describe the particular terms of any debt securities offered from time to time and may supplement or change the terms outlined below.

 ****

***Warrants***

We may issue warrants for the purchase of ordinary shares, preferred shares, or debt securities. We have summarized some of the general terms and provisions of the warrants that we may issue in "*Description of Warrants*". A prospectus supplement will describe the particular terms of any warrants offered from time to time and may supplement or change the terms outlined below.

 ****

***Units***

We may issue units comprised of one or more of the other classes of securities issued by us as described in this prospectus in any combination. Each unit will be issued so that the holder of the unit is also the holder of each security included in the unit. We have summarized some of the general terms and provisions of the units that we may issue in "*Description of Units*". A prospectus supplement will describe the particular terms of any units offered from time to time and may supplement or change the terms outlined below.

**Implications of Being an Emerging Growth Company**

We are an "emerging growth company" under the Jumpstart Our Business Act of 2012, as amended (the " JOBS Act "). As a result, we are permitted to, and have elected to, rely on exemptions from certain disclosure requirements. These provisions include exemption from the auditor attestation requirement under Section 404 of the Sarbanes-Oxley Act of 2002 (the "Sarbanes-Oxley Act"), in the assessment of the emerging growth company's internal control over financial reporting. In addition, Section 107 of the JOBS Act also provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act of 1933, as amended (the "Securities Act"), for complying with new or revised accounting standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of the benefits of this extended transition period. Our financial statements may therefore not be comparable to those of companies that comply with such new or revised accounting standards.

We will remain an emerging growth company until the earliest of (i) the last day of the fiscal year during which we have total annual gross revenues of at least $1.235 billion; (ii) the last day of our fiscal year following the fifth anniversary of the completion of our initial public offering; (iii) the date on which we have, during the preceding three-year period, issued more than $1.0 billion in non-convertible debt; or (iv) the date on which we are deemed to be a "large accelerated filer" under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which could occur if the market value of our ordinary shares that are held by non-affiliates exceeds $700 million as of the last business day of our most recently completed second fiscal quarter. Once we cease to be an emerging growth company, we will not be entitled to the exemptions provided in the JOBS Act discussed above.

**Implications of Being a Foreign Private Issuer**

We are a "foreign private issuer" as defined under the Exchange Act. As a foreign private issuer under the Exchange Act, we are exempt from certain rules under the Exchange Act, including the proxy rules, which impose certain disclosure and procedural requirements for proxy solicitations. Moreover, we are not required to file periodic reports and financial statements with the SEC as frequently or as promptly as domestic U.S. companies with securities registered under the Exchange Act, and we are not required to comply with Regulation FD (Fair Disclosure) promulgated under the Exchange Act, which imposes certain restrictions on the selective disclosure of material information. In addition, our officers, directors, and principal shareholders will be exempt from the requirements to report transactions in our equity securities and from the short-swing profit liability provisions contained in Section 16 of the Exchange Act.

In addition, as a foreign private issuer, we are permitted to follow certain home country corporate governance practices instead of those otherwise required under the listing rules of Nasdaq for domestic U.S. issuers. We may take advantage of these home country exemptions, including the following:

● Exemption from filing quarterly reports on Form 10-Q, from filing proxy solicitation materials on Schedule 14A or 14C in connection with annual or special meetings of shareholders, from providing current reports on Form 8-K disclosing significant events within four days of their occurrence, and from the disclosure requirements of Regulation FD.

● Exemption from Section 16 rules regarding sales of ordinary shares by insiders, which will provide less data in this regard than shareholders of U.S. companies that are subject to the Exchange Act.

These exemptions and leniencies will reduce the frequency and scope of information and protections available to you in comparison to those applicable to U.S. domestic reporting companies.

**RISK FACTORS**

An investment in our securities involves a high degree of risk. We operate in a highly competitive environment in which there are numerous factors which can influence our business, financial position or results of operations and which can also cause the market value of our Class A Ordinary Shares to decline. Many of these factors are beyond our control and therefore, are difficult to predict. Prior to making a decision about investing in our securities, you should carefully consider the risk factors discussed in the sections entitled "*Risk Factors*" contained in our most recent Annual Report on Form 20-F filed with the SEC, and in any applicable prospectus supplement and our other filings with the SEC and incorporated by reference in this prospectus or any applicable prospectus supplement, together with all of the other information contained in this prospectus or any applicable prospectus supplement. If any of the risks or uncertainties described in our SEC filings or any prospectus supplement or any additional risks and uncertainties actually occur, our business, financial condition and results of operations could be materially and adversely affected. In that case, the trading price of our securities could decline and you might lose all or part of your investment.

**CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS**

This prospectus contains or incorporates forward-looking statements within the meaning of section 27A of the Securities Act and section 21E of the Exchange Act. These forward-looking statements are management's beliefs and assumptions. In addition, other written or oral statements that constitute forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate and statements may be made by or on our behalf. Words such as " may," "will," "believes," "expects," "anticipates," "estimates," "projects," "intends," "should," "seeks," "future," "continue," "plan," "target," "predict," "potential," or the negative of such terms, variations of such words, or other comparable terminology and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. There are a number of important factors that could cause our actual results to differ materially from those indicated by such forward-looking statements.

We describe material risks, uncertainties and assumptions that could affect our business, including our financial condition and results of operations, under "*Risk Factors*" contained in our most recent Annual Report on Form 20-F filed with the SEC and may update our descriptions of such risks, uncertainties and assumptions in any prospectus supplement. We base our forward-looking statements on our management's beliefs and assumptions based on information available to our management at the time the statements are made. We caution you that actual outcomes and results may differ materially from what is expressed, implied or forecast by our forward-looking statements. Accordingly, you should be careful about relying on any forward-looking statements. Reference is made in particular to forward-looking statements regarding growth strategies, financial results, product and service development, competitive strengths, intellectual property rights, litigation, mergers and acquisitions, market acceptance or continued acceptance of our services, accounting estimates, financing activities, ongoing contractual obligations and sales efforts. Except as required under the federal securities laws, the rules and regulations of the SEC, stock exchange rules, and other applicable laws, regulations and rules, we do not have any intention or obligation to update publicly any forward-looking statements after the distribution of this prospectus, whether as a result of new information, future events, changes in assumptions, or otherwise.

**USE OF PROCEEDS**

Unless otherwise indicated in an accompanying prospectus supplement, the net proceeds from the sale of the securities offered hereby will be used for general corporate purposes, which may include working capital, capital expenditures, debt repayment, or acquisitions. Depending on future events and others changes in the business climate, we may determine at a later time to use the net proceeds for different purposes. As a result, our management will have broad discretion in the allocation of the net proceeds and investors will be relying on the judgment of our management regarding the application of the proceeds of any sale of the securities. In the event that any net proceeds are not immediately applied, we may temporarily hold them as cash, deposit them in banks or invest them in cash equivalents or securities. We have not allocated any portion of the net proceeds for any particular use at this time. Specific information concerning the use of proceeds from the sale of any securities will be included in the prospectus supplement relating to the particular offering in which they are sold.

**CAPITALIZATION AND INDEBTEDNESS**

Our capitalization and indebtedness will be set forth in a prospectus supplement to this prospectus or in a report of foreign private issuer on Form 6-K subsequently furnished to the SEC and specifically incorporated herein by reference.

**DESCRIPTION OF SHARE CAPITAL**

We are a public limited company organized and existing under the laws of Ireland. We were formed on April 3, 2020 as a private company limited by shares under the name Dolya Holdco 3 Limited, incorporated in Ireland. On July 14, 2020, we effected a change of name to Fusion Fuel Green Limited. On October 2, 2020, we converted into a public limited company incorporated in Ireland under the name "Fusion Fuel Green PLC". Our affairs are governed by the Constitution , the Companies Act, and the corporate law of Ireland.

*<u>Authorized share capital</u>*. The authorized share capital of the Company is $351,212.50 divided into 100,000,000 Class A Ordinary Shares with a nominal value of $0.0035 each, 2,125,000 Class B Ordinary Shares with a nominal value of $0.0001 each and 10,000,000 preferred shares with a nominal value of $0.0001 each, of which 4,171,327 have been designated as Series A Convertible Preferred Shares with a nominal value of $0.0001 each, and €25,000 divided into 25,000 deferred ordinary shares with a nominal value of €1.00 each. As of the date of this prospectus, all outstanding Class B Ordinary Shares were converted to Class A Ordinary Shares on December 5, 2022. Therefore, all rights of the Class B Ordinary Shares described below or elsewhere in this prospectus are not applicable.

The authorized share capital may be increased or reduced by a resolution approved by a simple majority of the votes cast at a general meeting of our shareholders, referred to under Irish law as an "ordinary resolution". Our authorized share capital may be divided into shares of such nominal value as the resolution shall prescribe. At the Company's extraordinary general meeting held on November 6, 2025, the shareholders approved the increase of our authorized share capital by the creation of such further number of Class A Ordinary Shares as the board of directors may determine, provided that such further number of Class A Ordinary Shares shall be not less than 100,000 Class A Ordinary Shares and not more than 1,000,000,000 Class A Ordinary Shares, with such increase to be implemented at such time as the board of directors of the Company may in its absolute discretion determine.

*<u>Allotment/issue of shares</u>*. As a matter of Irish law, the directors of a company may allot new shares without shareholder approval once authorized to do so by the constitution of the company or by an ordinary resolution adopted by its shareholders at a general meeting. The authorization may be granted for a maximum period of five years, at which point it must be renewed by shareholders by an ordinary resolution. The Constitution authorized our board of directors to issue new shares of the Company without shareholder approval until December 31, 2023 (unless previously revoked by the shareholders of the Company in general meeting). This authorization was extended to December 31, 2024 by approval of the shareholders at the Company's annual general meeting held on September 29, 2023 as to up to the aggregate nominal amount of $295.30 (2,952,994 ordinary shares (being equivalent to approximately 20% of the aggregate nominal value of the issued ordinary shares of the Company as of August 31, 2023 (being the last practicable date before the Notice of 2023 Annual General Meeting of Shareholders)), with such authority expiring on December 31, 2024. This authorization was extended to March 19, 2029 by approval of the shareholders at the Company's extraordinary general meeting held on March 20, 2024 up to the maximum of our authorized but unissued share capital. At the Company's annual general meeting held on June 25, 2025, the shareholders approved the extension of this authorization until June 25, 2030, up to the maximum of our authorized but unissued share capital. At an extraordinary general meeting of the Company on November 6, 2025, the shareholders further approved the extension of this authorization until November 6, 2030, up to the maximum of our authorized but unissued share capital that will exist following implementation of the authorized share capital increase by the board as referred to above. The maximum amount of shares in the Company that can be allotted under this authority shall be the amount of the authorized but unissued share capital of the Company.

Notwithstanding this authority, under the Takeover Panel Act 1997 and the Takeover Rules 2022 (the "Takeover Rules") our board of directors would not be permitted to issue any of our shares, including preferred shares, during a period when an offer has been made for us or is believed to be imminent unless the issue is (i) approved by our shareholders at a general meeting; (ii) consented to by the Irish Takeover Panel on the basis it would not constitute action frustrating the offer; (iii) consented to by the Irish Takeover Panel and approved in writing by the holders of more than 50% of our shares carrying voting rights and that they would vote in favor of it at a general meeting; (iv) consented to by the Irish Takeover Panel in circumstances where a contract for the issue of the shares had been entered into prior to that period (or prior to any earlier time at which our Board considered the offer to be imminent); or (v) consented to by the Irish Takeover Panel in circumstances where the issue of the shares was decided by our directors prior to that period and either action has been taken to implement the issuance (whether in part or in full) prior to such period or the issuance was otherwise in the ordinary course of business.

Under Irish law, unless otherwise authorized, when an Irish public limited company issues shares for cash to new shareholders, it is required first to offer those shares on the same or more favorable terms to existing shareholders of the company on a pro rata basis, commonly referred to as the statutory preemption right. However, we initially opted out of these preemption rights in the Constitution as permitted under Irish law. The Constitution provided that this opt-out would lapse on December 31, 2023 (unless previously revoked by the shareholders of Fusion Fuel in general meeting). The authorization to opt out of the statutory preemption right may be granted for a maximum period of five years, at which point it must be renewed by a resolution approved by not less than 75% of the votes of our shareholders cast at a general meeting (referred to under Irish law as a "special resolution"). If the opt-out is not renewed, shares issued for cash must be offered to pre-existing shareholders of the Company pro rata to their existing shareholdings before the shares can be issued to any new shareholders. At the Company's annual general meeting held on September 29, 2023, the opt-out was renewed as to up to an aggregate nominal amount of $295.30 (2,952,994 ordinary shares (being equivalent to approximately 20% of the aggregate nominal value of the issued ordinary shares of the Company as of August 31, 2023 (being the last practicable date before the Notice of 2023 Annual General Meeting of Shareholders)), with such authority expiring on December 31, 2024. The opt-out was renewed and extended to March 20, 2029 by approval of the shareholders at the Company's extraordinary general meeting held on March 20, 2024 up to the maximum of our authorized but unissued share capital. At the Company's annual general meeting held on June 25, 2025, the shareholders approved the extension and renewal of this opt-out until June 25, 2030, up to the maximum of our authorized but unissued share capital. At an extraordinary general meeting of the Company on November 6, 2025, the shareholders further approved the extension and renewal of this opt-out until November 6, 2030, up to the maximum of our authorized but unissued share capital that will exist following implementation of the authorized share capital increase by the board as referred to above. The statutory preemption rights do not apply where shares are issued for non-cash consideration and do not apply to the issue of shares, which as respects dividends and capital, carry a right to participate only up to a specified amount in a distribution and/or to an issue of shares which are held by a person who acquired them in pursuance of an employees' share scheme, or, in the case of shares which have not been allotted, are to be allotted in pursuance of such a scheme.

*<u>Redemption</u>.* The Constitution provides that, unless the board of directors determines otherwise, any share in the capital of the Company that we have agreed to acquire shall be deemed to be a redeemable share on and from the time of the existence or creation of an agreement, transaction or trade between the Company and any person pursuant to which the company acquires a share in the capital of the Company (save for an acquisition for nil consideration pursuant to section 102(1)(a) of the Companies Act). In these circumstances, the acquisition of such shares by the Company, save where surrendered to the Company for nil consideration in accordance with the Companies Act, will constitute the redemption of a redeemable share in accordance with the Companies Act. No resolution, whether special or otherwise, will be required to be passed to deem any share in the capital of the Company a redeemable share.

Pursuant to the Constitution , the Company is authorized to acquire its own shares save:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in
 a case falling within section 1074 of the Companies Act, which prohibits a public limited
 company in Ireland making a market purchase or overseas market purchase of its own shares
 unless the purchase has first been authorized by the company by ordinary resolution; and/or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in
 a case falling within section 1075 of the Companies Act, which prohibits a public limited
 company in Ireland making an off-market purchase of its own shares otherwise than in pursuance
 of a contract authorized in advance by a special resolution of the company.

Under Irish law, a company may issue redeemable shares and may only redeem them out of distributable reserves or the proceeds of a new issue of shares made for that purpose. We may only purchase redeemable shares if, as a result of such purchase, the nominal value of our issued share capital that is not redeemable would not be less than one-tenth of the nominal value of our total issued share capital. Based on the provision of our Constitution described above, shareholder approval will not be required to redeem our shares other than in the two specific cases outlined above at (a) and (b). Repurchased and redeemed shares may be cancelled or held as treasury shares. The nominal value of treasury shares held by us at any one time must not exceed 10% of the nominal value of our company capital. We may not exercise any voting rights in respect of any shares held as treasury shares. Treasury shares may be cancelled by us or re-issued subject to certain conditions.

 

*<u>Purchases by subsidiaries</u>*. Under Irish law, an Irish or non-Irish subsidiary may purchase our shares either on market or off market. For one of our subsidiaries to make purchases on market of our shares, the shareholders must provide general authorization for such purchase by way of ordinary resolution. However, as long as this general authority has been granted, no specific shareholder authority for a particular on market purchase by a subsidiary of our shares is required. For a purchase by a subsidiary off market, the proposed purchase contract must be authorized by special resolution of our shareholders before the contract is entered into. The person whose ordinary shares are to be bought back cannot vote in favor of the special resolution and the purchase contract must be on display or must be available for inspection by our shareholders at our registered office from the date of the notice of the meeting at which the resolution approving the contract is to be proposed. In order for one of our subsidiaries to make an on market purchase of our shares, such shares must be purchased on a "recognized stock exchange." Nasdaq is specified as a recognized stock exchange for this purpose by Irish law. The number of shares held by our subsidiaries at any time will count as treasury shares and will be included in any calculation of the permitted treasury share threshold of 10% of the nominal value of our issued share capital. While a subsidiary holds any of our shares, it cannot exercise any voting rights in respect of those shares. The acquisition of our shares by a subsidiary must be funded out of distributable reserves of the subsidiary.

*<u>Reduction of share capital</u>.* We may, by special resolution and subject to confirmation by the Irish High Court, reduce or cancel our issued share capital in any manner permitted by the Companies Act.

 

*<u>General Meetings of Shareholders/Written Resolutions of Shareholders</u>*. Under Irish law, the Company is in each year required to hold a general meeting of its shareholders as its annual general meeting in addition to any other meeting in that year and shall specify the meeting as such in the notices calling it. Not more than 15 months shall elapse between the date of one annual general meeting of the Company and that of the next. All general meetings of the Company other than annual general meetings shall be called extraordinary general meetings.

Extraordinary shareholders' meetings may be convened by the board of directors, by the board of directors on the requisition of shareholders who together hold not less than 10% of the paid up share capital of the Company, which carries, as at the date of the requisition, the right of voting at general meetings of the Company or, if the board of directors fails to so convene an extraordinary general meeting, such extraordinary general meeting may be convened by the requisitioning shareholders or any of them representing more than 50% of the total voting rights of all of them. Any action required or permitted to be taken at any annual or extraordinary general meetings may be taken only upon the vote of the shareholders at an annual or extraordinary general meeting duly noticed and convened in accordance with the Constitution and the Companies Act. Under Irish law, if our directors become aware that our net assets are half or less of the amount of our called-up share capital, our directors must convene an extraordinary general meeting of our shareholders not later than 28 days from the date that they learn of this fact. This meeting must be convened for the purposes of considering whether any, and if so what, measures should be taken to address the situation.

Unanimous consent of the holders of the Class A Ordinary Shares and the Class B Ordinary Shares (for as long as the Company has more than one shareholder and assuming any Class B Ordinary Shares are outstanding at such time) shall be required before the shareholders may act by way of written resolution without a meeting.

*<u>Inspection of books and records</u>.* Under Irish law, shareholders have the right to (1) receive a copy of the Constitution, (2) inspect and obtain copies of the minutes of general meetings and resolutions, (3) inspect and receive a copy of the register of shareholders, register of directors and secretaries, register of directors' interests and other statutory registers maintained by us, (4) receive copies of statutory financial statements (or summary financial statements, where applicable) and directors' and auditors' reports that have previously been sent to shareholders prior to an annual general meeting, and (5) receive financial statements of any our subsidiaries that have previously been sent to shareholders prior to an annual general meeting for the preceding ten years. The auditors' report must be circulated to the shareholders with our financial statements prepared in accordance with Irish law 21 days before the annual general meeting and must be read to the shareholders at our annual general meeting.

 

*<u>Acquisitions</u>*. The Company may be acquired in a number of ways, including:

● a court-approved scheme of arrangement under the Companies Act. A scheme of arrangement with shareholders requires a court order from the Irish High Court and the approval of a majority in number representing 75% in value of the shareholders present and voting in person or by proxy at a meeting called to approve the scheme;

● through a tender or takeover offer by a third party for all of our shares. Where the holders of 80% or more of our ordinary shares have accepted an offer for their shares in our company, the remaining shareholders may also be statutorily required to transfer their shares. If the bidder does not exercise this "squeeze out" right, then the non-accepting shareholders also have a statutory right to require the bidder to acquire their shares on the same terms. If our shares were to be listed on the main securities market of the Irish Stock Exchange or another regulated stock exchange in the EU, this threshold would be increased to 90%; and

● it is also possible for the Company to be acquired by way of a merger with a company incorporated in the European Economic Area ("EEA") under the EU Cross-Border Conversions, Mergers and Diversions Directive (EU) 2019/2121 or with another Irish company under the Companies Act. Such a merger must be approved by a special resolution. Shareholders may also be entitled to have their shares acquired for cash, as described below. Irish law does not generally require shareholder approval for a sale, lease or exchange of all or substantially all of a company's property and assets. The Constitution provides that, for so long as not less than an aggregate of 1,700,000 Class B Ordinary Shares of the Company continue to be beneficially owned by the shareholders of the Company's subsidiary, Fusion Fuel Portugal , S.A. ("Fusion Fuel Portugal") (as at the date of the Business Combination Agreement (as defined in the Constitution), the written consent or affirmative vote of the holders of a majority of the outstanding Class B Ordinary Shares shall be required before the Company can, either directly or indirectly, by amendment, merger, consolidation or otherwise, sell, lease, transfer, exclusively license or otherwise dispose, in a single transaction or series of related transactions, of all or substantially all the assets of the Company and/or its subsidiaries taken as a whole, or sell or dispose (whether by merger, consolidation or otherwise) of one or more of its subsidiaries if substantially all of the assets of the Company and its subsidiaries taken as a whole are held by such subsidiary or subsidiaries, except where such sale, lease, transfer, exclusive license or other disposition is to a wholly owned subsidiary of the Company.

 

*<u>Appraisal Rights</u>*. Generally, under Irish law, shareholders of an Irish company do not have statutory dissenters' or appraisal rights. If we are being merged as the transferor company with another EEA company under the EU Cross-Border Conversions, Mergers, and Divisions Directive (EU) 2019/2121, as implemented in Ireland by the European Communities (Cross-Border Conversions, Mergers, and Divisions) Regulations 2023 (as amended), or if we are being merged with another Irish company under the Irish Companies Act, (1) any of our shareholders who voted against the special resolution approving the merger, or (2) if 90% of our shares are held by the successor company, any other of our shareholders, may be entitled to require that the successor company acquire their shares for cash.

*<u>Liquidation</u>*. We may be dissolved and wound up at any time by way of a shareholders' voluntary winding up or a creditors' winding up. In the case of a shareholders' voluntary winding up, a special resolution of shareholders and a declaration of solvency is required. Our company may also be dissolved by way of court order on the application of a creditor, a member or by the Irish Companies Registration Office as an enforcement measure if we have failed to file certain returns. The Director of Corporate Enforcement in Ireland (the "Director") can also present a petition for us to be wound up on the ground that it is just and equitable to do so if the Director considers that such a petition should be brought having regard to a report made under section 758 of the Companies Act or any information or document obtained by the Director by virtue of the performance by the Director of his functions. Subject to the provisions of the Companies Act as to preferential payments, the property of the Company on its winding up shall be distributed among the members according to their rights and interests in the Company.

*<u>Transfers</u>.* A shareholder of our company who holds shares beneficially (as opposed to legally) will not be the holder of record of such shares. Instead, the nominee will be the holder of record of such shares. Accordingly, a transfer of shares from a person who holds such shares beneficially to a person who also holds such shares beneficially through a depository or other nominee will not be registered in our official share register, as the depository or other nominee will remain the record holder of any such shares.

A written instrument of transfer is required under Irish law in order to register on our official share register any transfer of shares (1) from a person who holds such shares directly to any other person, (2) from a person who holds such shares beneficially but not directly to a person who holds such shares directly, or (3) from a person who holds such shares beneficially to another person who holds such shares beneficially where the transfer involves a change in the depository or other nominee that is the record owner of the transferred shares. An instrument of transfer is also required for a shareholder who directly holds shares to transfer those shares into or out of his or her own broker account. Such instruments of transfer may give rise to Irish stamp duty, which must be paid prior to registration of the transfer on our official Irish share register. However, a shareholder who directly holds shares outside of The Depository Trust Company (" DTC ") may transfer those shares into DTC without giving rise to Irish stamp duty provided that (a) there is no change in beneficial ownership of the shares and (b) the transfer into or out of DTC is not effected in contemplation of a sale of the shares by the beneficial owner to a third party.

Any transfer of our shares that is subject to Irish stamp duty will not be registered in the name of the buyer unless an instrument of transfer is duly stamped, the stamp duty thereon is paid by one of the parties and the instrument is provided to the transfer agent. We, in our absolute discretion and insofar as the Companies Act or any other applicable law permits, may, or may procure that we or a subsidiary of our company shall, pay Irish stamp duty arising on a transfer of our shares on behalf of the transferee of such shares. If stamp duty resulting from the transfer of such shares which would otherwise be payable by the transferee is paid by us or any subsidiary of our company on behalf of the transferee, then in those circumstances, we intend to, on our behalf or on behalf of our subsidiary, take one or a combination of the following actions: (1) require the transferee to pay to us or a subsidiary of our company the amount of such stamp duty and refuse to register such transfer until that amount is paid, (2) seek reimbursement of the stamp duty from the transferee, (3) set-off the stamp duty against any dividends payable to the transferee of those ordinary shares, and (4) claim a first and permanent lien on the ordinary shares on which stamp duty has been paid by us or our subsidiary for the amount of stamp duty paid. Our lien shall extend to all dividends paid on those ordinary shares. The Constitution delegates authority to our company secretary, or any other party designated by the board of directors of the Company for such purpose, to execute an instrument of transfer on behalf of a transferring party.

In order to help ensure that the official share register is regularly updated to reflect trading of our ordinary shares occurring through normal electronic systems, we intend to regularly produce any required instruments of transfer in connection with any transactions for which we pay stamp duty, subject to the reimbursement and set-off rights described above. In the event that we notify one or both of the parties to a share transfer that we believe stamp duty is required to be paid in connection with the transfer and that we will not pay the stamp duty, the parties may either themselves arrange for the execution of the required instrument of transfer (and may request a form of instrument of transfer from us for this purpose) or request that we execute an instrument of transfer on behalf of the transferring party in a form determined by us. In either event, if the parties to the share transfer have the instrument of transfer duly stamped to the extent required and then provide it to our transfer agent, the buyer will be registered as the legal owner of the relevant shares on our official Irish share register, subject to the suspension right described below.

The board of directors of the Company may, in its absolute discretion and without assigning any reason for its decision, decline to register any transfer of any share which is not a fully-paid share. The board of directors of the Company may also decline to register any transfer if:

● the instrument of transfer is not duly stamped, if required, and lodged at the registered office of the Company or any other place as the board of directors of the Company may from time to time specify for the purpose, accompanied by the certificate (if any) for the shares to which it relates and such other evidence as the board of directors of the Company may reasonably require to show the right of the transferor to make the transfer;

● the instrument of transfer is in respect of more than one class of share;

● the instrument of transfer is in favor of more than four persons jointly;

● it is not satisfied that all applicable consents, authorizations, permissions or approvals of any governmental body or agency in Ireland or any other applicable jurisdiction required to be obtained under relevant law prior to such transfer have been obtained; or

● it is not satisfied that the transfer would not violate the terms of any agreement to which Fusion Fuel (or any of its subsidiaries) and the transferor are party or subject.

*<u>Limitations on rights to own securities</u>*. Neither Irish law nor the Constitution imposes any general limitation on the right of non-residents or foreign persons to hold our securities or exercise voting rights on our securities other than those limitations that would generally apply to all shareholders.

*<u>Takeover Rules and Substantial Acquisition Rules</u>.* A transaction in which a third party seeks to acquire 30% or more of our voting rights and any other acquisitions of our securities will be governed by the Takeover Rules, and will be regulated by the Irish Takeover Panel. The "General Principles" of the Takeover Rules (the "General Principles") and certain important aspects of the Takeover Rules are described below.

*<u>General Principles</u>.* The Takeover Rules are built on the following General Principles which will apply to any transaction regulated by the Irish Takeover Panel:

● in the event of an offer, all holders of securities of the target company must be afforded equivalent treatment and, if a person acquires control of a company, the other holders of securities must be protected;

● the holders of securities in the target company must have sufficient time and information to enable them to reach a properly informed decision on the offer; where it advises the holders of securities, the board of directors of the target company must give its views on the effects of the implementation of the offer on employment, employment conditions and the locations of the target company's place of business;

● a target company's board of directors must act in the interests of that company as a whole and must not deny the holders of securities the opportunity to decide on the merits of the offer;

● false markets must not be created in the securities of the target company, the bidder or any other company concerned by the offer in such a way that the rise or fall of the prices of the securities becomes artificial and the normal functioning of the markets is distorted;

● a bidder can only announce an offer after ensuring that he or she can fulfill in full any cash consideration offered, if such is offered, and after taking all reasonable measures to secure the implementation of any other type of consideration;

● a target company may not be hindered in the conduct of its affairs longer than is reasonable by an offer for its securities; and

● a "substantial acquisition" of securities, whether such acquisition is to be effected by one transaction or a series of transactions, shall take place only at an acceptable speed and shall be subject to adequate and timely disclosure.

*<u>Mandatory Bid</u>.* Under certain circumstances, a person who acquires shares, or other voting securities, of a company may be required under the Takeover Rules to make a mandatory cash offer for the remaining outstanding voting securities in that company at a price not less than the highest price paid for the securities by the acquiror, or any parties acting in concert with the acquiror, during the previous 12 months. This mandatory bid requirement is triggered if an acquisition of securities would increase the aggregate holding of an acquiror, including the holdings of any parties acting in concert with the acquiror, to securities representing 30% or more of the voting rights in a company, unless the Irish Takeover Panel otherwise consents. An acquisition of securities by a person holding, together with its concert parties, securities representing between 30% and 50% of the voting rights in a company would also trigger the mandatory bid requirement if, after giving effect to the acquisition, the percentage of the voting rights held by that person, together with its concert parties, would increase by 0.05% within a 12-month period. Our Constitution contains a provision that, if an issuance of our securities would trigger any such mandatory bid requirement and the shareholder elects to accept such shares without triggering a mandatory bid, the voting rights attached to such securities will be suspended. Any person, excluding any parties acting in concert with the holder, holding securities representing more than 50% of the voting rights of a company is not subject to these mandatory offer requirements in purchasing additional securities.

 

*<u>Voluntary Bid</u>.* If a person makes a voluntary offer to acquire our outstanding ordinary shares, the offer price must not be less than the highest price paid for our ordinary shares by the bidder or its concert parties during the three-month period prior to the commencement of the offer period. The Irish Takeover Panel has the power to extend the "look back" period to 12 months if the Irish Takeover Panel, taking into account the General Principles, believes it is appropriate to do so.

If the bidder or any of its concert parties has acquired our ordinary shares (1) during the 12-month period prior to the commencement of the offer period that represent more than 10% of our total ordinary shares or (2) at any time after the commencement of the offer period, the offer must be in cash or accompanied by a full cash alternative and the price per ordinary share must not be less than the highest price paid by the bidder or its concert parties during, in the case of clause (1), the 12-month period prior to the commencement of the offer period or, in the case of (2), the offer period. The Irish Takeover Panel may apply this rule to a bidder who, together with its concert parties, has acquired less than 10% of our total ordinary shares in the 12-month period prior to the commencement of the offer period if the Irish Takeover Panel, taking into account the General Principles, considers it just and proper to do so.

An offer period will generally commence from the date of the first announcement of the offer or proposed offer.

*<u>Substantial Acquisition Rules</u>*. The Takeover Rules also contain rules governing substantial acquisitions of shares and other voting securities which restrict the speed at which a person may increase his or her holding of shares and rights over shares to an aggregate of between 15% and 30% of the voting rights of the company. Except in certain circumstances, an acquisition or series of acquisitions of shares or rights over shares representing 10% or more of the voting rights of the company is prohibited, if such acquisition(s), when aggregated with shares or rights already held, would result in the acquirer holding 15% or more but less than 30% of the voting rights of the company and such acquisitions are made within a period of seven days. These rules also require accelerated disclosure of acquisitions of shares or rights over shares relating to such holdings.

 

*<u>Frustrating Action</u>*. Under the Takeover Rules, our board of directors is not permitted to take any action that might frustrate an offer for our shares once our board of directors has received an approach that may lead to an offer or has reason to believe that such an offer is or may be imminent, subject to certain exceptions. Potentially frustrating actions such as 1) the issue of shares, options, restricted share units or convertible securities, (2) material acquisitions or disposals, (3) entering into contracts other than in the ordinary course of business, or (4) any action, other than seeking alternative offers, which may result in frustration of an offer, are prohibited during the course of an offer or at any earlier time during which our board of directors has reason to believe an offer is or may be imminent. Exceptions to this prohibition are available where:

● the action is approved by our shareholders at a general meeting; or

● the Irish Takeover Panel has given its consent, where:

● it is satisfied the action would not constitute frustrating action;

● our shareholders holding more than 50% of the voting rights state in writing that they approve the proposed action and would vote in favor of it at a general meeting;

● the action is taken in accordance with a contract entered into prior to the announcement of the offer, or any earlier time at which our board of directors considered the offer to be imminent; or

● the decision to take such action was made before the announcement of the offer and either has been at least partially implemented or is in the ordinary course of business.

*<u>Shareholders' rights plan</u>*. Irish law does not expressly authorize or prohibit companies from issuing share purchase rights or adopting a shareholder rights plan as an anti-takeover measure. However, there is no directly relevant case law on the validity of such plans under Irish law. In addition, such a plan would be subject to the Takeover Rules and the General Principles underlying the Takeover Rules. The Constitution allows our board of directors to adopt any shareholder rights plan upon such terms and conditions as our board of directors deems expedient and in the best interests of us, subject to applicable law.

 

*<u>Disclosure of interest in shares</u>*. Under the Companies Act, our shareholders must notify us if, as a result of a transaction, the shareholder will become interested in 3% or more of our voting shares, or if as a result of a transaction a shareholder who was interested in 3% or more of our voting shares ceases to be so interested. Where a shareholder is interested in 3% or more of our voting shares, the shareholder must notify us of any alteration of his or her interest that brings his or her total holding through the nearest whole percentage number, whether an increase or a reduction. The relevant percentage figure is calculated by reference to the aggregate nominal value of the voting shares in which the shareholder is interested as a proportion of the entire nominal value of our issued share capital (or any such class of share capital in issue). Where the percentage level of the shareholder's interest does not amount to a whole percentage, this figure may be rounded down to the next whole number. We must be notified within five business days of the transaction or alteration of the shareholder's interests that gave rise to the notification requirement. If a shareholder fails to comply with these notification requirements, the shareholder's rights in respect of any of our shares it holds will not be enforceable, either directly or indirectly. However, such person may apply to the court to have the rights attaching to such shares reinstated.

In addition to these disclosure requirements, we, under the Companies Act, may, by notice in writing, require a person whom we know or have reasonable cause to believe to be, or at any time during the three years immediately preceding the date on which such notice is issued to have been, interested in shares comprised in our relevant share capital to (i) indicate whether or not it is the case and (ii) where such person holds or has during that time held an interest in our shares, to provide additional information, including the person's own past or present interests in our shares. If the recipient of the notice fails to respond within the reasonable time period specified in the notice, we may apply to the Irish court for an order directing that the affected shares be subject to certain restrictions, as prescribed by the Companies Act, as follows:

● any transfer of those shares or, in the case of unissued shares, any transfer of the right to be issued with shares and any issue of shares, shall be void;

● no voting rights shall be exercisable in respect of those shares;

● no further shares shall be issued in right of those shares or in pursuance of any offer made to the holder of those shares; and

● no payment shall be made of any sums due from us on those shares, whether in respect of capital or otherwise.

The court may also order that shares subject to any of these restrictions be sold with the restrictions terminating upon the completion of the sale. In the event we are in an offer period pursuant to the Takeover Rules, accelerated disclosure provisions apply for persons holding an interest in our securities of 1% or more.

**Ordinary Shares**

*<u>General</u>*. The authorized share capital of the Company is $351,212.50 divided into 100,000,000 Class A Ordinary Shares with a nominal value of $0.0035 each, 2,125,000 Class B Ordinary Shares with a nominal value of $0.0001 each and 10,000,000 preferred shares with a nominal value of $0.0001 each, of which 4,171,327 have been designated as Series A Convertible Preferred Shares with a nominal value of $0.0001 each, and €25,000 divided into 25,000 deferred ordinary shares with a nominal value of €1.00 each. As of the date of this prospectus, all outstanding Class B Ordinary Shares were converted to Class A Ordinary Shares on December 5, 2022. Therefore, all rights of the Class B Ordinary Shares described below or elsewhere in this prospectus are not applicable.

*<u>Dividends</u>*. The holders of the Company's ordinary shares are entitled to such dividends as may be declared by the Company's board of directors.

*<u>Convertibility of Class B Ordinary Shares</u>*. Each of the Class B Ordinary Shares was convertible, at the option of the holder thereof at any time up to December 30, 2023, into one Class A Ordinary Share. On December 31, 2023, all Class B Ordinary Shares that remained outstanding would be automatically converted into an equal number of Class A Ordinary Shares, without the requirement of any approval by our board of directors or our shareholders.

 

*<u>Voting Rights</u>**.*** Subject to the provisions of the Constitution and any rights or restrictions for the time being attached to any class or classes of shares in the capital of the Company, each holder of Class A Ordinary Share(s) or Class B Ordinary Share(s) (assuming any Class B Ordinary Shares are outstanding at such time) present in person or by proxy shall be entitled to one (1) vote for each share registered in his or her name in the register of members of the Company on all matters subject to the vote at general meetings of the Company. Voting at any meeting of shareholders is by way of a poll, which shall be taken in such manner as the chairperson of the meeting directs.

An ordinary resolution to be passed at a meeting by the shareholders requires the affirmative vote of a simple majority of the votes attaching to the ordinary shares cast at a meeting, while a special resolution requires the affirmative vote of no less than 75% of the votes cast attaching to the ordinary shares at a meeting. Where the shareholders wish to act by way of written resolution in lieu of holding a meeting, unanimous consent of the holders of the Class A Ordinary Shares and Class B Ordinary Shares (for as long as the Company has more than one shareholder) shall be required. A special resolution will be required for important matters such as a change of name, reducing the share capital or making changes to the Constitution.

Additionally, the Constitution provides that, for so long as not less than an aggregate of 1,700,000 Class B Ordinary Shares continued to be beneficially owned by the shareholders of Fusion Fuel Portugal (as at the date of the Business Combination Agreement (as defined in the Constitution), the written consent or affirmative vote of the holders of a majority of the outstanding Class B Ordinary Shares was required before the Company could carry out any of the following actions:

● liquidate, dissolve, or wind-up the business and affairs of the Company;

● effect any merger or consolidation in which the Company is a constituent party or a subsidiary of the Company is a constituent party if the Company issues shares of its capital stock pursuant to such merger or consolidation (except any such merger or consolidation involving the Company or a subsidiary in which the shares of capital stock of the Company outstanding immediately prior to such merger or consolidation continue to represent, or are converted into or exchanged for shares of capital stock that represent, immediately following such merger or consolidation, at least a majority, by voting power, of the capital stock of (1) the surviving or resulting corporation or (2) if the surviving or resulting corporation is a wholly-owned subsidiary of another corporation immediately following such merger or consolidation, the parent corporation of such surviving or resulting corporation);

● sell, lease, transfer, exclusively license or otherwise dispose, in a single transaction or series of related transactions, by the Company or any subsidiary of the Company of all or substantially all the assets of the Company and any subsidiary, taken as a whole, or the sale or disposition (whether by merger, consolidation or otherwise) of one or more subsidiaries of the Company if substantially all of the assets of the Company and its subsidiaries, taken as a whole, are held by such subsidiary or subsidiaries, except where such sale, lease, transfer, exclusive license or other disposition is to a wholly owned subsidiary of the Company;

● permit the sale of all or substantially all of the Class A Ordinary Shares and Class B Ordinary Shares to an independent third party or group;

● amend, alter, or repeal any provisions of the Constitution ;

● create, or authorize the creation of, or issue or obligate itself to issue shares of, any additional class or series of capital stock, or equity securities convertible into capital stock of the Company;

● expand or otherwise alter the size of the board of directors of the Company or Fusion Fuel Portugal; and

● remove any member of the board of directors of Fusion Fuel Portugal.

*<u>Restricted Voting Ordinary Shares</u>*. In certain circumstances the Class A Ordinary Shares and/or Class B Ordinary Shares (assuming any Class B Ordinary Shares are outstanding at such time) can carry restricted voting rights. This can occur where the shareholder acquires a controlling interest in shares carrying in aggregate 30% or more of the voting rights of the Company and has not (i) extended an offer to the holders of each class of shares of Fusion Fuel in accordance with Rule 9 of Takeover Rules or (ii) where the Company has not obtained approval of the Irish Takeover Panel or a waiver of Rule 9 of the Takeover Rules in respect of the shareholder. Where the Company issues Class A Ordinary Shares or Class B Ordinary Shares to such a shareholder and the shareholder elects to accept such shares, the share certificates shall bear a legend making reference to the shares as Restricted Voting Ordinary Shares.

 

*<u>Transfer of Ordinary Shares</u>*. Subject to any restrictions contained in the Constitution and the Companies Act, any shareholder may transfer all or any of his or her ordinary shares by an instrument of transfer in the usual or common form or any other form approved by the Company's board of directors.

*<u>Liquidation</u>*. On a return of capital on winding-up or otherwise (other than on conversion, redemption or purchase of ordinary shares), assets available for distribution among the holders of ordinary shares shall be distributed among the holders thereof on a pro rata basis. If the Company's assets available for distribution are insufficient to repay all of the paid-up capital, the assets will be distributed so that the losses are borne by the Company's shareholders proportionately.

*<u>Transfer Agent</u>.* The transfer agent for our ordinary shares is Continental Stock Transfer & Trust Company. The transfer agent and registrar for any issue of preferred shares will be set forth in the applicable prospectus supplement.

**Preferred Shares**

The Company is authorized to issue 10,000,000 preferred shares with a nominal value of $0.0001 each. Pursuant to the Certificate of Designation of Preferences, Benefits, and Limitations of Series A Convertible Preferred Shares, for which the relevant filings were made with the Companies Registration Office of Ireland on December 13, 2024 (the "Certificate of Designation"), 4,171,327 preferred shares have been designated as Series A Convertible Preferred Shares and are issued and outstanding.

Under the Certificate of Designation, the Series A Preferred Shares will automatically convert into Class A Ordinary Shares (subject to adjustment) upon the later of (i) approval of the Company's issuance of such underlying Class A Ordinary Shares by the Company's shareholders in accordance with applicable Irish law ("Shareholder Approval") and (ii) the clearance of an initial listing application filed by the Company with Nasdaq. Pursuant to the Certificate of Designation, the Series A Preferred Shares rank on parity with the Class A Ordinary Shares as to distributions of assets upon liquidation. The Series A Preferred Shares will have no voting rights except as required by the Companies Act and with respect to amendments to the Certificate of Designation or the Constitution that adversely affect the terms of the Series A Preferred Shares. On the later of the date of the shareholder approval or the clearance of the initial listing application filed by the Company with Nasdaq, each of the Series A Preferred Shares will automatically convert into ten Class A Ordinary Shares, subject to adjustment upon the occurrence of share dividends, share splits, reverse share splits, or certain similar transactions, or certain corporate transactions of the Company including a merger, sale of all or substantially all assets, purchase of 50% or more of the Class A Ordinary Shares, recapitalization, or acquisition by another person of more than 50% of the outstanding Class A Ordinary Shares. If the Shareholder Approval is not obtained by the date that is 180 days after the date that is no later than 45 days after the effective date of a registration statement on Form F-4 or such other applicable form to be filed with the SEC relating to the registration of the offer and sale of the Class A Ordinary Shares issuable upon conversion of the Series A Preferred Shares and certain other matters, the Company will, subject to applicable law, be required to repurchase all of the outstanding Series A Preferred Shares.

The Company may issue other series of preferred shares. Such preferred shares will have such rights and preferences as determined by our board of directors in accordance with the Companies Act, the Constitution, and as set forth in the terms of issue for the shares. The following outlines some of the general terms and provisions of preferred shares that we may issue from time to time. Additional or different terms of the preferred shares will be set forth in the applicable prospectus supplement.

We will file as an exhibit to the registration statement of which this prospectus forms a part, or will incorporate by reference from reports that we file with the SEC, the form of any subscription agreement, certificate of designation, or other document that describes the terms of the issue of preferred shares we are offering before the issuance of the preferred shares. The summaries of material provisions of the preferred shares are subject to, and qualified in their entirety by reference to, the Companies Act, all of the provisions of the Constitution and the subscription agreement, certificate of designation, or other agreement or instrument applicable to a particular issue of preferred shares. We urge you to read the applicable prospectus supplements, the complete subscription agreement, certificate of designation, or other agreement or instrument, and the Constitution, which will contain the terms of the issue of preferred shares.

 

*<u>General</u>.* We may issue preferred shares including preferred shares which are, at the option of us or the holder, liable to be redeemed or, at the option of the holders of shares of such series, liable to be converted into shares of any other class or classes or of any one or more series of the same class or of another class or classes. Each preferred share may confer on the holder the right to: (i) receive a preferential dividend, in priority to the payment of any dividend on the ordinary shares, at a rate (which may be fixed or variable) and on the basis (including whether cumulative or not) decided by the directors at the time of issue; (ii) participate with the ordinary shares in profits and assets of the Company, including on a winding up, if and to the extent the directors decide at the time of issue; (iii) in a winding up and on redemption, payment in priority to the ordinary shares of: (A) the amount of any dividend accrued but unpaid on the share at the date of winding up or the date of redemption; and (B) any additional amount specified in the terms of issue; (iv) to the extent directors may decide at the time of issue, a bonus issue or capitalization of profits in favor of holders of those shares only; and (v) vote at any general meeting.

The prospectus supplement relating to a particular issue of preferred shares will describe the terms of that issue of preferred shares and the price or prices at which we will offer the shares of that issue of preferred shares. The description may include:

● the title of the issue of preferred shares and the number of shares offered;

● the preferential dividend rate, the terms and conditions relating to the payment of dividends on the preferred shares;

● whether the preferred shares are redeemable, and the terms and conditions relating to any such redemption;

● whether the preferred shares are convertible into ordinary shares, and the terms and conditions relating to any such conversion; and

● any liquidation preference of the preferred shares.

*<u>Voting Rights</u>.* Before issuance, the board of directors of the Company can fix in the resolution(s) providing for the issue of the preferred shares of each particular series the voting rights, full or limited, if any, of the shares of such series; and whether or not and under what conditions the shares of such series (alone or together with the shares of one or more other series having similar provisions) shall be entitled to vote separately as a single class, for the election of one or more additional directors of the Company in case of dividend arrears or other specified events, or upon other matters. On each matter on which holders of preferred shares are entitled to vote, each preferred share will be entitled to one vote, or will be entitled to the number of votes specified in the terms of issue for the share.

*<u>Dividend Rights</u>.* Holders of our preferred shares may be entitled to receive a preferential dividend, in priority to the payment of any dividend on the ordinary shares, at a rate (which may be fixed or variable) and on the basis (including whether cumulative or not) decided by our board of directors at the time of issue.

*<u>Conversion and Redemption Rights.</u>* The board of directors may decide at the time of issue to designate an issue of preferred shares as redeemable. Preferred shares may be convertible into our ordinary shares, as and if designated by the board of directors at the time of issue.

*<u>Liquidation Rights</u>.* In the event of our voluntary or involuntary liquidation, dissolution, or winding up, the holders of preferred shares may be entitled to participate with the ordinary shares in the profits and assets of our company. The holders of the preferred shares may be entitled to payment in priority to the ordinary shares of the amount of any accrued but unpaid dividend or any other additional amount specified in the terms of issue.

**DESCRIPTION OF DEBT SECURITIES**

The following is a summary of the general terms of the debt securities that we may issue and is not intended to be complete. If debt securities are issued, we will describe in the applicable prospectus supplement the particular terms and provisions of any series of the debt securities and a description of how the general terms and provisions described below may apply to that series of the debt securities. The terms presented here, together with the terms in a related prospectus supplement, will be a description of the material terms of the debt securities. You should also read the indenture under which the debt securities are to be issued. We have filed a form of indenture governing different types of debt securities with the SEC as an exhibit to the registration statement of which this prospectus is a part. All capitalized terms have the meanings specified in the indenture.

We may issue, from time to time, debt securities, in one or more series, that will consist of senior debt, senior subordinated debt or subordinated debt. We refer to the subordinated debt securities and the senior subordinated debt securities together as the subordinated securities. The debt securities that we may offer will be issued under an indenture between us and an entity, identified in the applicable prospectus supplement, as trustee. Debt securities, whether senior, senior subordinated or subordinated, may be issued as convertible debt securities or exchangeable debt securities. The following is a summary of the material provisions of the indenture filed as an exhibit to the registration statement of which this prospectus is a part.

*As you read this section, please remember that for each series of debt securities, the specific terms of your debt security as described in the applicable prospectus supplement will supplement and, if applicable, may modify or replace the general terms described in the summary below. The statement we make in this section may not apply to your debt security. Prospective investors should rely on information in the applicable prospectus supplement and not on the following information to the extent that the information in such prospectus supplement is different from the following information.*

**General Terms of the Indenture**

The indenture does not limit the amount of debt securities that we may issue. It provides that we may issue debt securities up to the principal amount that we may authorize and may be in any currency or currency unit that we may designate. We may, without the consent of the holders of any series, increase the principal amount of securities in that series in the future, on the same terms and conditions and with the same CUSIP numbers as that series. Except for the limitations on consolidation, merger and sale of all or substantially all of our assets contained in the indenture, the terms of the indenture do not contain any covenants or other provisions designed to give holders of any debt securities protection against changes in our operations, financial condition or transactions involving us.

We may issue the debt securities issued under the indenture as "discount securities," which means they may be sold at a discount below their stated principal amount. These debt securities, as well as other debt securities that are not issued at a discount, may be issued with "original issue discount", or OID, for U.S. federal income tax purposes because of interest payment and other characteristics. Material U.S. federal income tax considerations applicable to debt securities issued with original issue discount will be described in more detail in any applicable prospectus supplement.

The applicable prospectus supplement for a series of debt securities that we issue will describe, among other things, the following terms of the offered debt securities:

● the title and authorized denominations of the series of debt securities;

● any limit on the aggregate principal amount of the series of debt securities;

● whether such debt securities will be issued in fully registered form without coupons or in a form registered as to principal only with coupons or in bearer form with coupons;

● whether issued in the form of one or more global securities and whether all or a portion of the principal amount of the debt securities is represented thereby;

● the price or prices at which the debt securities will be issued;

● the date or dates on which principal is payable;

● the place or places where and the manner in which principal, premium or interest, if any, will be payable and the place or places where the debt securities may be presented for transfer and, if applicable, conversion or exchange;

● interest rates, and the dates from which interest, if any, will accrue, and the dates when interest is payable and the maturity;

● the right, if any, to extend the interest payment periods and the duration of the extensions;

● our rights or obligations to redeem or purchase the debt securities;

● any sinking fund or other provisions that would obligate us to repurchase or otherwise redeem some or all of the debt securities;

● conversion or exchange provisions, if any, including conversion or exchange prices or rates and adjustments thereto;

● the currency or currencies of payment of principal or interest;

● the terms applicable to any debt securities issued at a discount from their stated principal amount;

● the terms, if any, under which any debt securities will rank junior to any of our other debt;

● whether and upon what terms the debt securities may be defeased, if different from the provisions set forth in the indenture;

● if the amount of payments of principal or interest is to be determined by reference to an index or formula, or based on a coin or currency other than that in which the debt securities are stated to be payable, the manner in which these amounts are determined and the calculation agent, if any, with respect thereto;

● the provisions, if any, relating to any collateral provided for the debt securities;

● if other than the entire principal amount of the debt securities when issued, the portion of the principal amount payable upon acceleration of maturity as a result of a default on our obligations;

● the events of default and covenants relating to the debt securities that are in addition to, modify or delete those described in this prospectus;

● the nature and terms of any security for any secured debt securities; and

● any other specific terms of any debt securities.

The applicable prospectus supplement will present material U.S. federal income tax considerations for holders of any debt securities and the securities exchange or quotation system on which any debt securities are to be listed or quoted.

**Senior Debt Securities**

Payment of the principal of, premium and interest, if any, on senior debt securities will rank on a parity with all of our other secured/unsecured and unsubordinated debt.

**Senior Subordinated Debt Securities**

Payment of the principal of, premium and interest, if any, on senior subordinated debt securities will be junior in right of payment to the prior payment in full of all of our unsubordinated debt, including senior debt securities and any credit facility. We will state in the applicable prospectus supplement relating to any senior subordinated debt securities the subordination terms of the securities as well as the aggregate amount of outstanding debt, as of the most recent practicable date, that by its terms would be senior to the senior subordinated debt securities. We will also state in such prospectus supplement limitations, if any, on issuance of additional senior debt.

**Subordinated Debt Securities**

Payment of the principal of, premium and interest, if any, on subordinated debt securities will be subordinated and junior in right of payment to the prior payment in full of all of our senior debt, including our senior debt securities and senior subordinated debt securities. We will state in the applicable prospectus supplement relating to any subordinated debt securities the subordination terms of the securities as well as the aggregate amount of outstanding indebtedness, as of the most recent practicable date, that by its terms would be senior to the subordinated debt securities. We will also state in such prospectus supplement limitations, if any, on issuance of additional senior indebtedness.

**Conversion or Exchange Rights**

Debt securities may be convertible into or exchangeable for other securities being registered in this registration statement, including, for example, shares of our equity securities. The terms and conditions of conversion or exchange will be stated in the applicable prospectus supplement. The terms will include, among others, the following:

● the conversion or exchange price;

● the conversion or exchange period;

● provisions regarding the ability of us or the holder to convert or exchange the debt securities;

● events requiring adjustment to the conversion or exchange price; and

● provisions affecting conversion or exchange in the event of our redemption of the debt securities.

**Consolidation, Merger or Sale**

We cannot consolidate or merge with or into, or transfer or lease all or substantially all of our assets to, any person, and we cannot permit any other person to consolidate with or merge into us, unless (1) we will be the continuing corporation or (2) the successor corporation or person to which our assets are transferred or leased is a corporation organized under the laws of the United States, any state of the United States or the District of Columbia and it expressly assumes our obligations under the debt securities and the indenture. In addition, we cannot complete such a transaction unless immediately after completing the transaction, no event of default under the indenture, and no event which, after notice or lapse of time or both, would become an event of default under the indenture, shall have occurred and be continuing. When the person to whom our assets are transferred or leased has assumed our obligations under the debt securities and the indenture, we shall be discharged from all our obligations under the debt securities and the indenture except in limited circumstances.

This covenant would not apply to any recapitalization transaction, a change of control of us or a highly leveraged transaction, unless the transaction or change of control were structured to include a merger or consolidation or transfer or lease of all or substantially all of our assets.

**Events of Default**

The term "Event of Default," when used in the indenture, unless otherwise indicated, means any of the following:

● failure to pay interest for 30 days after the date payment is due and payable;

● failure to pay principal or premium, if any, on any debt security when due, either at maturity, upon any redemption, by declaration or otherwise;

● failure to make sinking fund payments when due;

● failure to perform other covenants for 60 days after notice that performance was required;

● events in bankruptcy, insolvency or reorganization relating to us; or

● any other Event of Default provided in the applicable officer's certificate, resolution of our board of directors or the supplemental indenture under which we issue a series of debt securities.

An Event of Default for a particular series of debt securities does not necessarily constitute an Event of Default for any other series of debt securities issued under the indenture.

If an Event of Default with respect to any series of senior debt securities occurs and is continuing, then either the trustee for such series or the holders of a majority in aggregate principal amount of the outstanding debt securities of such series, by notice in writing, may declare the principal amount of and interest on all of the debt securities of such series to be due and payable immediately; provided, however, unless otherwise provided in the applicable prospectus supplement, if such an Event of Default occurs and is continuing with respect to more than one series of senior debt securities under the indenture, the trustee for such series or the holders of a majority in aggregate principal amount of the outstanding debt securities of all such series of senior debt securities of equal ranking (or, if any of such senior debt securities are discount securities, such portion of the principal amount as may be specified in the terms of that series), voting as one class, may make such declaration of acceleration as to all series of such equal ranking and not the holders of the debt securities of any one of such series of senior debt securities.

If an Event of Default with respect to any series of subordinated securities occurs and is continuing, then either the trustee for such series or the holders of a majority in aggregate principal amount of the outstanding debt securities of such series, by notice in writing, may declare the principal amount of and interest on all of the debt securities of such series to be due and payable immediately; provided, however, unless otherwise provided in the applicable prospectus supplement, if such an Event of Default occurs and is continuing with respect to more than one series of subordinated securities under the indenture, the trustee for such series or the holders of a majority in aggregate principal amount of the outstanding debt securities of all such series of subordinated securities of equal ranking (or, if any of such subordinated securities are discount securities, such portion of the principal amount as may be specified in the terms of that series), voting as one class, may make such declaration of acceleration as to all series of equal ranking and not the holders of the debt securities of any one of such series of subordinated securities. The holders of not less than a majority in aggregate principal amount of the debt securities of all affected series of equal ranking may, after satisfying certain conditions, rescind and annul any of the above-described declarations and consequences involving such series.

If an Event of Default relating to events in bankruptcy, insolvency or reorganization of us occurs and is continuing, then the principal amount of all of the debt securities outstanding, and any accrued interest, will automatically become due and payable immediately, without any declaration or other act by the trustee or any holder.

The indenture imposes limitations on suits brought by holders of debt securities against us. Except for actions for payment of overdue principal or interest, no holder of debt securities of any series may institute any action against us under the indenture unless:

● the holder has previously given to the trustee written notice of default and continuance of such default;

● the holders of not less than a majority in principal amount of the outstanding debt securities of the affected series of equal ranking have requested that the trustee institute the action;

● the requesting holders have offered the trustee reasonable indemnity for expenses and liabilities that may be incurred by bringing the action;

● the trustee has not instituted the action within 60 days of the request; and

● the trustee has not received inconsistent direction by the holders of a majority in principal amount of the outstanding debt securities of the affected series of equal ranking.

We will be required to file annually with the trustee a certificate, signed by one of our officers, stating whether or not the officer knows of any default by us in the performance, observance or fulfillment of any condition or covenant of the indenture.

**Registered Global Securities and Book Entry System**

The debt securities of a series may be issued in whole or in part in book-entry form and may be represented by one or more fully registered global securities or in unregistered form with or without coupons. We will deposit any registered global securities with a depositary or with a nominee for a depositary identified in the applicable prospectus supplement and registered in the name of such depositary or nominee. In such case, we will issue one or more registered global securities denominated in an amount equal to the aggregate principal amount of all of the debt securities of the series to be issued and represented by such registered global security or securities. This means that we will not issue certificates to each holder.

Unless and until it is exchanged in whole or in part for debt securities in definitive registered form, a registered global security may not be transferred except as a whole:

● by the depositary for such registered global security to its nominee;

● by a nominee of the depositary to the depositary or another nominee of the depositary; or

● by the depositary or its nominee to a successor of the depositary or a nominee of the successor.

The prospectus supplement relating to a series of debt securities will describe the specific terms of the depositary arrangement involving any portion of the series represented by a registered global security. We anticipate that the following provisions will apply to all depositary arrangements for registered debt securities:

● ownership of beneficial interests in a registered global security will be limited to persons that have accounts with the depositary for such registered global security, these persons being referred to as "participants," or persons that may hold interests through participants;

● upon the issuance of a registered global security, the depositary for the registered global security will credit, on its book-entry registration and transfer system, the participants' accounts with the respective principal amounts of the debt securities represented by the registered global security beneficially owned by the participants;

● any dealers, underwriters, or agents participating in the distribution of the debt securities represented by a registered global security will designate the accounts to be credited; and

● ownership of beneficial interest in such registered global security will be shown on, and the transfer of such ownership interest will be effected only through, records maintained by the depositary for such registered global security for interests of participants, and on the records of participants for interests of persons holding through participants.

The laws of some states may require that specified purchasers of securities take physical delivery of the securities in definitive form. These laws may limit the ability of those persons to own, transfer or pledge beneficial interests in registered global securities.

So long as the depositary for a registered global security, or its nominee, is the registered owner of such registered global security, the depositary or such nominee, as the case may be, will be considered the sole owner or holder of the debt securities represented by the registered global security for all purposes under the indenture. Except as stated below, owners of beneficial interests in a registered global security:

● will not be entitled to have the debt securities represented by a registered global security registered in their names;

● will not receive or be entitled to receive physical delivery of the debt securities in the definitive form; and

● will not be considered the owners or holders of the debt securities under the relevant indenture.

Accordingly, each person owning a beneficial interest in a registered global security must rely on the procedures of the depositary for the registered global security and, if the person is not a participant, on the procedures of a participant through which the person owns its interest, to exercise any rights of a holder under the indenture.

We understand that under existing industry practices, if we request any action of holders or if an owner of a beneficial interest in a registered global security desires to give or take any action that a holder is entitled to give or take under the indenture, the depositary for the registered global security would authorize the participants holding the relevant beneficial interests to give or take the action, and the participants would authorize beneficial owners owning through the participants to give or take the action or would otherwise act upon the instructions of beneficial owners holding through them.

We will make payments of principal and premium, if any, and interest, if any, on debt securities represented by a registered global security registered in the name of a depositary or its nominee to the depositary or its nominee, as the case may be, as the registered owners of the registered global security. None of us, the trustee or any other agent of ours or the trustee will be responsible or liable for any aspect of the records relating to, or payments made on account of, beneficial ownership interests in the registered global security or for maintaining, supervising or reviewing any records relating to the beneficial ownership interests.

We expect that the depositary for any debt securities represented by a registered global security, upon receipt of any payments of principal and premium, if any, and interest, if any, in respect of the registered global security, will immediately credit participants' accounts with payments in amounts proportionate to their respective beneficial interests in the registered global security as shown on the records of the depositary. We also expect that standing customer instructions and customary practices will govern payments by participants to owners of beneficial interests in the registered global security held through the participants, as is now the case with the securities held for the accounts of customers in bearer form or registered in "street name." We also expect that any of these payments will be the responsibility of the participants.

If the depositary for any debt securities represented by a registered global security is at any time unwilling or unable to continue as depositary or stops being a clearing agency registered under the Exchange Act, we will appoint an eligible successor depositary. If we fail to appoint an eligible successor depositary within 90 days, we will issue the debt securities in definitive form in exchange for the registered global security. In addition, we may at any time and in our sole discretion decide not to have any of the debt securities of a series represented by one or more registered global securities. In that event, we will issue debt securities of the series in a definitive form in exchange for all of the registered global securities representing the debt securities. The trustee will register any debt securities issued in definitive form in exchange for a registered global security in the name or names as the depositary, based upon instructions from its participants, shall instruct the trustee.

We may also issue bearer debt securities of a series in the form of one or more global securities, referred to as "bearer global securities." The prospectus supplement relating to a series of debt securities represented by a bearer global security will describe the applicable terms and procedures. These will include the specific terms of the depositary arrangement and any specific procedures for the issuance of debt securities in definitive form in exchange for a bearer global security, in proportion to the series represented by a bearer global security.

**Discharge, Defeasance and Covenant Defeasance**

We can discharge or decrease our obligations under the indenture as stated below.

We may discharge obligations to holders of any series of debt securities that have not already been delivered to the trustee for cancellation and that have either become due and payable or are by their terms to become due and payable, or are scheduled for redemption, within 60 days. We may effect a discharge by irrevocably depositing with the trustee cash or U.S. government obligations, as trust funds, in an amount certified to be enough to pay when due, whether at maturity, upon redemption or otherwise, the principal of, premium and interest, if any, on the debt securities and any mandatory sinking fund payments.

Unless otherwise provided in the applicable prospectus supplement, we may also discharge any and all of our obligations to holders of any series of debt securities at any time, which we refer to as defeasance. We may also be released from the obligations imposed by any covenants of any outstanding series of debt securities and provisions of the indenture, and we may omit to comply with those covenants without creating an event of default under the trust declaration, which we refer to as covenant defeasance. We may effect defeasance and covenant defeasance only if, among other things:

● we irrevocably deposit with the trustee cash or U.S. government obligations, as trust funds, in an amount certified to be enough to pay at maturity, or upon redemption, the principal, premium and interest, if any, on all outstanding debt securities of the series;

● we deliver to the trustee an opinion of counsel from a nationally recognized law firm to the effect that the holders of the series of debt securities will not recognize income, gain or loss for U.S. federal income tax purposes as a result of the defeasance or covenant defeasance and that defeasance or covenant defeasance will not otherwise alter the holders' U.S. federal income tax treatment of principal, premium and interest, if any, payments on the series of debt securities; and

● in the case of subordinated debt securities, no event or condition shall exist that, based on the subordination provisions applicable to the series, would prevent us from making payments of principal of, premium and interest, if any, on any of the applicable subordinated debt securities at the date of the irrevocable deposit referred to above or at any time during the period ending on the 91st day after the deposit date.

In the case of a defeasance by us, the opinion we deliver must be based on a ruling of the Internal Revenue Service issued, or a change in U.S. federal income tax law occurring, after the date of the indenture, since such a result would not occur under the U.S. federal income tax laws in effect on such date.

Although we may discharge or decrease our obligations under the indenture as described in the two preceding paragraphs, we may not avoid, among other things, our duty to register the transfer or exchange of any series of debt securities, to replace any temporary, mutilated, destroyed, lost or stolen series of debt securities or to maintain an office or agency in respect of any series of debt securities.

**Modification of the Indenture**

The indenture provides that we and the trustee may enter into supplemental indentures without the consent of the holders of debt securities to:

● secure any debt securities and provide the terms and conditions for the release or substitution of the security;

● evidence the assumption by a successor corporation of our obligations;

● add covenants for the protection of the holders of debt securities;

● add any additional events of default;

● cure any ambiguity or correct any inconsistency or defect in the indenture;

● add to, change or eliminate any of the provisions of the indenture in a manner that will become effective only when there is no outstanding debt security which is entitled to the benefit of the provision as to which the modification would apply;

● establish the forms or terms of debt securities of any series;

● eliminate any conflict between the terms of the indenture and the Trust Indenture Act of 1939;

● evidence and provide for the acceptance of appointment by a successor trustee and add to or change any of the provisions of the indenture as is necessary for the administration of the trusts by more than one trustee; and

● make any other provisions with respect to matters or questions arising under the indenture that will not be inconsistent with any provision of the indenture as long as the new provisions do not adversely affect the interests of the holders of any outstanding debt securities of any series created prior to the modification.

The indenture also provides that we and the trustee may, with the consent of the holders of not less than a majority in aggregate principal amount of debt securities of all series of senior debt securities or of subordinated securities of equal ranking, as the case may be, then outstanding and affected, voting as one class, add any provisions to, or change in any manner, eliminate or modify in any way the provisions of, the indenture or modify in any manner the rights of the holders of the debt securities. We and the trustee may not, however, without the consent of the holder of each outstanding debt security affected thereby:

● extend the final maturity of any debt security;

● reduce the principal amount or premium, if any;

● reduce the rate or extend the time of payment of interest;

● reduce any amount payable on redemption or impair or affect any right of redemption at the option of the holder of the debt security;

● change the currency in which the principal, premium or interest, if any, is payable;

● reduce the amount of the principal of any debt security issued with an original issue discount that is payable upon acceleration or provable in bankruptcy;

● alter provisions of the relevant indenture relating to the debt securities not denominated in U.S. dollars;

● impair the right to institute suit for the enforcement of any payment on any debt security when due;

● if applicable, adversely affect the right of a holder to convert or exchange a debt security; or

● reduce the percentage of holders of debt securities of any series whose consent is required for any modification of the indenture.

The indenture provides that the holders of not less than a majority in aggregate principal amount of the then outstanding debt securities of any and all affected series of equal ranking, by notice to the relevant trustee, may on behalf of the holders of the debt securities of any and all such series of equal ranking waive any default and its consequences under the indenture except:

● a continuing default in the payment of interest on, premium, if any, or principal of, any such debt security held by a non-consenting holder; or

● a default in respect of a covenant or provision of the indenture that cannot be modified or amended without the consent of the holder of each outstanding debt security of each series affected.

**Concerning the Trustee**

The indenture provides that there may be more than one trustee under the indenture, each for one or more series of debt securities. If there are different trustees for different series of debt securities, each trustee will be a trustee of a trust under the indenture separate and apart from the trust administered by any other trustee under that indenture.

Except as otherwise indicated in this prospectus or any prospectus supplement, any action permitted to be taken by a trustee may be taken by such trustee only on the one or more series of debt securities for which it is the trustee under the indenture. Any trustee under the indenture may resign or be removed from one or more series of debt securities. All payments of principal of, premium and interest, if any, on, and all registration, transfer, exchange, authentication and delivery of, the debt securities of a series will be effected by the trustee for that series at an office designated by the trustee.

If the trustee becomes a creditor of ours, the indenture places limitations on the right of the trustee to obtain payment of claims or to realize on property received in respect of any such claim as security or otherwise. The trustee may engage in other transactions. If it acquires any conflicting interest relating to any duties concerning the debt securities, however, it must eliminate the conflict or resign as trustee.

The holders of a majority in aggregate principal amount of any and all affected series of debt securities of equal ranking then outstanding will have the right to direct the time, method and place of conducting any proceeding for exercising any remedy available to the trustee concerning the applicable series of debt securities, provided that the direction:

● would not conflict with any rule of law or with the relevant indenture;

● would not be unduly prejudicial to the rights of another holder of the debt securities; and

● would not involve any trustee in personal liability.

The indenture provides that in case an Event of Default shall occur, not be cured and be known to any trustee, the trustee must use the same degree of care as a prudent person would use in the conduct of his or her own affairs in the exercise of the trustee's power. The trustee will be under no obligation to exercise any of its rights or powers under the indenture at the request of any of the holders of the debt securities, unless they shall have offered to the trustee security and indemnity satisfactory to the trustee.

**No Individual Liability of Incorporators, Shareholders, Officers or Directors**

No recourse under or upon any obligation, covenant or agreement of the indenture, or of any debt security thereunder, or for any claim based thereon or otherwise in respect thereof, will be available against any incorporator, shareholder, officer or director, as such, past, present or future, of the Company or of any successor corporation, either directly or through the Company, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise. The indenture and the obligations issued thereunder will be solely corporate obligations of the Company, and no personal liability will attach to, or will be incurred by, the incorporators, shareholders, officers or directors, as such, of the Company or of any successor corporation, or any of them.

**Governing Law**

The indenture and the debt securities will be governed by, and construed in accordance with, the laws of the State of New York.

**DESCRIPTION OF WARRANTS**

We may issue warrants for the purchase of our Class A Ordinary Shares, preferred shares, and/or debt securities in one or more series. We may issue warrants independently or together with our Class A Ordinary Shares, preferred shares and/or debt securities, and the warrants may be attached to or traded separate and apart from these securities. Each series of warrants will be issued under a warrant agreement as set forth in the prospectus supplement. The applicable prospectus supplement or term sheet will describe the terms of the warrants offered thereby, any warrant agreement relating to such warrants and the warrant certificates, including but not limited to the following:

● the title of the warrants;

● the offering price or prices of the warrants, if any;

● the minimum or maximum amount of the warrants which may be exercised at any one time;

● the currency or currency units in which the offering price, if any, and the exercise price are payable;

● the number of securities, if any, with which such warrants are being offered and the number of such warrants being offered with each security;

● the date, if any, on and after which such warrants and the related securities, if any, will be transferable separately;

● the amount of securities purchasable upon exercise of each warrant and the price at which the securities may be purchased upon such exercise, and events or conditions under which the amount of securities may be subject to adjustment;

● the date on which the right to exercise such warrants shall commence and the date on which such right shall expire;

● the circumstances, if any, which will cause the warrants to be deemed to be automatically exercised;

● any material risk factors, if any, relating to such warrants;

● the identity of any warrant agent; and

● any other material terms of the warrants.

Prior to the exercise of any warrants, holders of such warrants will not have any rights of holders of the securities purchasable upon such exercise, including the right to receive payments of dividends or the right to vote such underlying securities. Prospective purchasers of warrants should be aware that material U.S. federal income tax, accounting and other considerations may be applicable to instruments such as warrants.

**DESCRIPTION OF UNITS**

We may issue units comprised of one or more of the other securities described in this prospectus in any combination. Each unit will be issued so that the holder of the unit is also the holder of each security included in the unit. Thus, the holder of a unit will have the rights and obligations of a holder of each included security. The unit agreement under which a unit is issued may provide that the securities included in the unit may not be held or transferred separately, at any time or at any time before a specified date.

The applicable prospectus supplement may describe:

● the designation and terms of the units and of the securities comprising the units, including whether and under what circumstances those securities may be held or transferred separately;

● any provisions for the issuance, payment, settlement, transfer or exchange of the units or of the securities comprising the units; and

● any additional terms of the governing unit agreement.

The applicable prospectus supplement will describe the terms of any units. The preceding description and any description of units in the applicable prospectus supplement does not purport to be complete and is subject to and is qualified in its entirety by reference to the unit agreement and, if applicable, collateral arrangements and depositary arrangements relating to such units.

**TAXATION**

Our most recent Annual Report on Form 20-F provides a discussion of certain tax considerations that may be relevant to prospective investors in our securities. The applicable prospectus supplement may also contain information about certain material tax considerations relating to the securities covered by such prospectus supplement. You should consult your own tax advisors prior to acquiring any of our securities.

**PLAN OF DISTRIBUTION**

We may sell the securities offered by this prospectus in any one or more of the following ways (or in any combination) from time to time:

● directly to investors, including through privately negotiated transactions, a specific bidding, auction or other process;

● to investors through agents;

● directly to agents;

● to or through underwriters or dealers;

● in "at the market offerings, " within the meaning of the Rule 415(a)(4) of the Securities Act, to or through a market maker or into an existing trading market on an exchange or otherwise;

● through a combination of any such methods of sale; or

● through any other method permitted by applicable law and described in the applicable prospectus supplement.

The accompanying prospectus supplement will set forth the terms of the offering and the method of distribution and will identify any firms acting as underwriters, dealers or agents in connection with the offering, including:

● the names and addresses of any underwriters, dealers or agents;

● the purchase price of the securities and the proceeds to us from the sale, if any;

● any over-allotment options under which underwriters may purchase additional securities from us;

● any underwriting discounts and other items constituting compensation to underwriters, dealers or agents;

● any public offering price, any discounts or concessions allowed or reallowed or paid to dealers; and

● any securities exchange or market on which the securities offered in the prospectus supplement may be listed.

If underwriters are used in the sale, the underwriters will acquire the offered securities for their own account and may resell them from time to time in one or more transactions, including negotiated transactions, at a fixed public offering price or at varying prices determined at the time of sale. The offered securities may be offered either to the public through underwriting syndicates represented by one or more managing underwriters or by one or more underwriters without a syndicate. Unless otherwise set forth in a prospectus supplement, the obligations of the underwriters to purchase any series of securities will be subject to certain conditions precedent and the underwriters will be obligated to purchase all of such series of securities if any are purchased. Only those underwriters identified in such prospectus supplement are deemed to be underwriters in connection with the securities offered in the prospectus supplement. Any underwritten offering may be on a best efforts or a firm commitment basis.

In connection with the sale of our securities, underwriters or agents may receive compensation (in the form of discounts, concessions or commissions) from us, or from purchasers of securities for whom they may act as agents. Underwriters may sell securities to or through dealers, and such dealers may receive compensation in the form of discounts, concessions or commissions from the underwriters and/or commissions from the purchasers for whom they may act as agents. Underwriters, dealers and agents that participate in the distribution of our securities may be deemed to be "underwriters" as that term is defined in the Securities Act, and any discounts allowed or commissions paid, and any profit on the resale of the securities they realize may be deemed to be underwriting discounts and commissions under the Securities Act. Any person who may be deemed to be an underwriter will be identified, and the compensation received from us will be described, in the prospectus supplement. Maximum compensation to any underwriters, dealers or agents will not exceed any applicable Financial Industry Regulatory Authority, Inc. ("FINRA") limitations.

Underwriters and agents may be entitled to indemnification by us against some civil liabilities, including liabilities under the Securities Act, or to contributions with respect to payments which the underwriters or agents may be required to make relating to these liabilities. Underwriters and agents may be customers of, engage in transactions with, or perform services for us in the ordinary course of business.

Unless otherwise specified in the related prospectus supplement, each series of securities will be a new issue with no established trading market, other than our Class A Ordinary Shares, which are listed on The Nasdaq Capital Market. Any Class A Ordinary Shares sold pursuant to a prospectus supplement will be listed on The Nasdaq Capital Market, subject to official notice of issuance. We may elect to list any preferred shares, warrants, debt securities, or units on an exchange, but we are not obligated to do so. It is possible that one or more underwriters may make a market in the securities, but such underwriters will not be obligated to do so and may discontinue any market making at any time without notice. No assurance can be given as to the liquidity of, or the trading market for, any offered securities.

The aggregate proceeds to us from the sale of our securities will be the purchase price of our securities less discounts or commissions, if any. We reserve the right to accept and, together with our agents from time to time, to reject, in whole or in part, any proposed purchase of our securities to be made directly or through agents.

To facilitate the offering of the securities offered by us, certain persons participating in the offering may engage in transactions that stabilize, maintain or otherwise affect the price of our securities. This may include over-allotments or short sales, which involve the sale by persons participating in the offering of more shares than were sold to them. In these circumstances, these persons would cover such over-allotments or short positions by making purchases in the open market or by exercising their over-allotment option, if any. In addition, these persons may stabilize or maintain the price of our securities by bidding for or purchasing shares in the open market or by imposing penalty bids, whereby selling concessions allowed to dealers participating in the offering may be reclaimed if shares sold by them are repurchased in connection with stabilization transactions. The effect of these transactions may be to stabilize or maintain the market price of our securities at a level above that which might otherwise prevail in the open market. These transactions may be discontinued at any time.

**EXPENSES OF ISSUANCE AND DISTRIBUTION**

The following table sets forth the various expenses in connection with the sale and distribution of the securities being registered. We will bear all of the expenses shown below.

---

| | | |
|:---|:---|:---|
| SEC registration fee | $0.00 | \* |
| FINRA filing fee | 0.00 | \*\* |
| Legal fees and expenses |  | \*\*\* |
| Accounting fees and expenses |  | \*\*\* |
| Transfer agent fees |  | \*\*\* |
| State securities and blue sky laws compliance |  | \*\*\* |
| Miscellaneous |  | \*\*\* |
| **Total** | $— | \*\*\* |

---

\* Pursuant to Rule 415(a)(6) under the Securities Act, the registration statement of which this prospectus forms a part includes $34,000,000 of securities that were previously registered, but were not sold, pursuant to the Prior Registration Statement. The registration fee with respect to such securities, totaling $6,952.50, was previously paid, and such registration fee will continue to be applied to the unsold securities. In accordance with Rule 415(a)(6), the offering of securities registered under the Prior Registration Statement will be terminated as of the date of effectiveness of this registration statement.

\*\* The Company paid FINRA filing fees of $11,750 upon the filing and registration of the Prior Registration Statement. The unused portion is being carried forward to this registration statement.

\*\*\* The amount of securities and number of offerings are indeterminable, and the expenses cannot be estimated at this time. The applicable prospectus supplement will set forth the estimated aggregate amount of expenses payable in respect of any offering of securities.

**LEGAL MATTERS**

Except as otherwise set forth in the applicable prospectus supplement, the validity of any securities offered pursuant to this prospectus and certain other legal matters as to Irish law will be passed upon for us by Arthur Cox LLP, Dublin, Ireland. Certain other legal matters relating to U.S. federal law and the laws of the State of New York will be passed upon for us by Bevilacqua PLLC.

If legal matters in connection with offerings made pursuant to this prospectus are passed upon by counsel to underwriters, dealers or agents, such counsel will be named in the applicable prospectus supplement relating to any such offering.

As of the date of this prospectus, Bevilacqua PLLC holds 7,286 Class A Ordinary Shares , which it received upon cashless exercise of a warrant at an exercise price of $0.14 per share. The warrant contained a cashless exercise provision and also provides that the holder may credit all or a portion of outstanding legal fees owed to the holder to the payment of the exercise price. Bevilacqua PLLC received this warrant as partial consideration for legal services.

**EXPERTS**

The consolidated financial statements of the Company as of and for the fiscal year ended December 31, 2024 have been incorporated by reference herein and in the registration statement in reliance upon the report of Bush & Associates CPA LLC, independent registered public accounting firm, incorporated by reference herein, and upon the authority of said firm as experts in accounting and auditing.

The audit report covering the consolidated financial statements of the Company as of and for the fiscal year ended December 31, 2024 contains an explanatory paragraph that states that the Company's operating losses raise substantial doubt about the entity's ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might result from the outcome of that uncertainty.

The consolidated financial statements of the Company as of December 31, 2023, and for each of the years in the two-year period ended December 31, 2023, have been incorporated by reference herein and in the registration statement in reliance upon the report of KPMG, independent registered public accounting firm, incorporated by reference herein, and upon the authority of said firm as experts in accounting and auditing.

The consolidated financial statements of QIND as of December 31, 2023 and 2022, and for each of the years in the two-year period ended December 31, 2023, have been incorporated by reference herein and in the registration statement in reliance upon the report of Bush & Associates CPA LLC, independent registered public accounting firm, incorporated by reference herein, and upon the authority of said firm as experts in accounting and auditing.

The audit report covering the December 31, 2023 and 2022 consolidated financial statements of QIND contains an explanatory paragraph that states that QIND's recurring losses from operations and net capital deficiency for the period ended December 31, 2023 raise substantial doubt about the entity's ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might result from the outcome of that uncertainty.

**INDEMNIFICATION**

Insofar as indemnification by us for liabilities arising under the Securities Act may be permitted to our directors, officers or persons controlling the company pursuant to provisions of our constitution, or otherwise, we have been advised that in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable. In the event that a claim for indemnification by such director, officer or controlling person of us in the successful defense of any action, suit or proceeding is asserted by such director, officer or controlling person in connection with the securities being offered, we will, unless in the opinion of our counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by us is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

**ENFORCEMENT OF CIVIL LIABILITIES**

We were incorporated under the laws of Ireland. Some of our directors and officers reside outside of the United States. Service of process upon such persons may be difficult or impossible to effect within the United States. Furthermore, because most of our assets, and some of the assets of our directors and officers, are located outside of the United States, any judgment obtained in the United States, including a judgment based upon the civil liability provisions of United States federal securities laws, against us or any of such persons may not be collectible within the United States. It also may be difficult for an investor, or any other person or entity, to assert United States securities laws claims in original actions instituted in Ireland.

In addition, it may not be possible to enforce court judgments obtained in the United States against us in Ireland based on the civil liability provisions of the U.S. federal or state securities laws. The United States currently does not have a treaty with Ireland providing for the reciprocal recognition and enforcement of judgments in civil and commercial matters. The European Union (excluding Denmark) has acceded to the Convention of July 2, 2019 on the Recognition and Enforcement of Foreign Judgments in Civil or Commercial Matters (the "2019 Hague Judgments Convention"). The United States is a signatory to the 2019 Hague Judgments Convention since March 2022, but, as of November 1, 2025, it has not ratified it. If the United States ratifies the 2019 Hague Judgments Convention, it will amend the position outlined below in respect of the recognition and enforcement of judgments which fall within the scope of the 2019 Hague Judgments Convention.

The following requirements must be met before a judgment of a U.S. court will be deemed to be enforceable in Ireland:

● the judgment must be for a definite sum;

● the judgment must be final and conclusive; and

● the judgment must be provided by a court of competent jurisdiction.

An Irish court will also exercise its right to refuse enforcement if the U.S. judgment was obtained by fraud, if the judgment violates Irish public policy, if the judgment is in breach of natural or constitutional justice or if it is irreconcilable with an earlier foreign judgment. There is some uncertainty as to whether the courts of Ireland would recognize or enforce judgments of U.S. courts obtained against us or our directors or officers based on the civil liabilities provisions of the U.S. federal or state securities laws or hear actions against us or those persons based on those laws. Therefore, a final judgment for the payment of money rendered by any U.S. federal or state court based on civil liability, whether or not based solely on U.S. federal or state securities laws, would not automatically be enforceable in Ireland.

Foreign judgments enforced by Irish courts generally will be payable in euros. An Irish court hearing an action to recover an amount in a non-Irish currency will render judgment for the equivalent amount in Irish currency.

Our agent for service of process in the United States is CT Corporation System, 28 Liberty Street, New York, NY 10005, (212) 894-8940.

**MATERIAL CHANGES**

Except as otherwise disclosed in this prospectus, there have been no reportable material changes that have occurred since December 31, 2024, and that have not been described in a report on Form 6-K furnished under the Exchange Act and incorporated by reference into this prospectus.

**WHERE YOU CAN FIND MORE INFORMATION; DOCUMENTS INCORPORATED BY REFERENCE**

**Available Information**

This prospectus is part of a registration statement on Form F-3 that we filed with the SEC registering the securities that may be offered and sold hereunder. This prospectus, which constitutes a part of the registration statement, does not contain all of the information set forth in the registration statement, the exhibits filed therewith or the documents incorporated by reference therein. For further information about us and the securities offered hereby, reference is made to the registration statement, the exhibits filed therewith and the documents incorporated by reference therein. Statements contained in this prospectus regarding the contents of any contract or any other document that is filed as an exhibit to the registration statement are not necessarily complete, and in each instance, we refer you to the copy of such contract or other document filed as an exhibit to the registration statement. We are required to file reports and other information with the SEC pursuant to the Exchange Act, including annual reports on Form 20-F and reports on Form 6-K.

The SEC maintains a website that contains reports and other information regarding issuers, like us, that file electronically with the SEC. The address of the website is www.sec.gov. The information on our website (www.fusion-fuel.eu), is not, and should not be, considered part of this prospectus and is not incorporated by reference into this document.

As a foreign private issuer, we are exempt under the Exchange Act from, among other things, the rules prescribing the furnishing and content of proxy statements, and our officers, directors and principal shareholders are exempt from the reporting and short-swing profit recovery provisions contained in Section 16 of the Exchange Act. In addition, we are not required under the Exchange Act to file periodic reports and financial statements with the SEC as frequently or as promptly as U.S. companies whose securities are registered under the Exchange Act.

**Incorporation by Reference**

The SEC allows us to "incorporate by reference" the information we file with it into this prospectus. This means that we can disclose important information about us and our financial condition to you by referring you to another document filed separately with the SEC instead of having to repeat the information in this prospectus. The information incorporated by reference is considered to be part of this prospectus and later information that we file with the SEC will automatically update and supersede this information. We incorporate by reference into this prospectus the information contained in the documents listed below and any future filings made by us with the SEC under Section 13(a), 13(c) or 15(d) of the Exchange Act, except for information "furnished" to the SEC which is not deemed filed and not incorporated by reference into this prospectus (unless otherwise indicated below), until the termination of the offering of securities described in the applicable prospectus supplement:

● the Company's Annual Report on [Form 20-F](https://www.sec.gov/Archives/edgar/data/1819794/000121390025041617/ea0240743-20f_fusion.htm) for the fiscal year ended December 31, 2024, filed with the SEC on May 9, 2025;

● the Company's Reports on Form 6-K (and any amendments thereto on Form 6-K/A) furnished to the SEC on [January 3, 2025](https://www.sec.gov/Archives/edgar/data/1819794/000121390025000775/ea0226731-6k_fusion.htm) , [January 13, 2025](https://www.sec.gov/Archives/edgar/data/1819794/000121390025002806/ea0227460-6k_fusion.htm) , [January 13, 2025](https://www.sec.gov/Archives/edgar/data/1819794/000121390025002830/ea0227390-6k_fusion.htm) (other than Exhibit 99.1 thereto), [January 13, 2025](https://www.sec.gov/Archives/edgar/data/1819794/000121390025002838/ea0227392-6k_fusion.htm) (other than Exhibit 99.1 thereto), [January 13, 2025](https://www.sec.gov/Archives/edgar/data/1819794/000121390025003008/ea0227516-6k_fusion.htm) , [January 14, 2025](https://www.sec.gov/Archives/edgar/data/1819794/000121390025003420/ea0227640-6k_fusionfuel.htm) , [January 27, 2025](https://www.sec.gov/Archives/edgar/data/1819794/000121390025007089/ea0228717-6k_fusionfuel.htm) , [February 24, 2025](https://www.sec.gov/Archives/edgar/data/1819794/000121390025016628/ea0231922-6k_fusion.htm) , [February 27, 2025](https://www.sec.gov/Archives/edgar/data/1819794/000121390025017655/ea0232333-6k_fusion.htm) (other than Exhibit 99.1 thereto), [March 3, 2025](https://www.sec.gov/Archives/edgar/data/1819794/000121390025019043/ea0232651-6k_fusion.htm) , [March 10, 2025](https://www.sec.gov/Archives/edgar/data/1819794/000121390025022234/ea0233391-6ka1_fusion.htm) (other than Exhibit 99.7 and Exhibit 99.8 thereto), [May 12, 2025](https://www.sec.gov/Archives/edgar/data/1819794/000121390025042040/ea0241752-6ka2_fusion.htm) , [May 16, 2025](https://www.sec.gov/Archives/edgar/data/1819794/000121390025044951/ea0242594-6k_fusion.htm) , [June 25, 2025](https://www.sec.gov/Archives/edgar/data/1819794/000121390025057835/ea0247009-6k_fusion.htm) (other than Exhibit 99.1 thereto), [July 10, 2025](https://www.sec.gov/Archives/edgar/data/1819794/000121390025062528/ea0248434-6k_fusion.htm) (other than Exhibit 99.1 thereto), [July 23, 2025](https://www.sec.gov/Archives/edgar/data/1819794/000121390025066822/ea0249977-6k_fusion.htm) , [July 28, 2025](https://www.sec.gov/Archives/edgar/data/1819794/000121390025068299/ea0250416-6k_fusion.htm) , [July 30, 2025](https://www.sec.gov/Archives/edgar/data/1819794/000164117225021549/form6-k.htm) , [August 5, 2025](https://www.sec.gov/Archives/edgar/data/1819794/000164117225022259/form6-k.htm) , [September 10, 2025](https://www.sec.gov/Archives/edgar/data/1819794/000164117225027053/form6-k.htm) , [October 14, 2025](https://www.sec.gov/Archives/edgar/data/1819794/000149315225018015/form6-k.htm) and [November 7, 2025](https://www.sec.gov/Archives/edgar/data/1819794/000149315225021120/form6-k.htm) (other than Exhibit 99.1 thereto); and

● the description of the Company's securities contained in the Company's Registration Statement on [Form 8-A](https://www.sec.gov/Archives/edgar/data/1819794/000121390020041851/ea131356-8a12b_fusionfuel.htm) (File No. 001-39789) filed with the SEC on December 9, 2020, pursuant to Section 12(b) of the Exchange Act, including any amendment or report filed for the purpose of updating such description.

We also incorporate by reference any future annual reports on Form 20-F we file with the SEC under the Exchange Act after the date of this prospectus and prior to the termination of the offering of securities by means of this prospectus, and any future reports of foreign private issuer on Form 6-K we furnish with the SEC during such period that are identified in such reports as being incorporated by reference into this prospectus.

Any reports filed by us with the SEC after the date of this prospectus and before the date that the offering of securities by means of this prospectus is terminated will automatically update and, where applicable, supersede any information contained in this prospectus or incorporated by reference in this prospectus. This means that you must look at all of the SEC filings that we incorporate by reference to determine if any of the statements in this prospectus or in any documents incorporated by reference have been modified or superseded. Unless expressly incorporated by reference, nothing in this prospectus shall be deemed to incorporate by reference information furnished to, but not filed with, the SEC.

We will provide without charge to any person (including any beneficial owner) to whom this prospectus is delivered, upon oral or written request, a copy of any document incorporated by reference in this prospectus but not delivered with the prospectus (except for exhibits to those documents unless a document states that one of its exhibits is incorporated into the document itself). Such request should be directed to: Fusion Fuel Green PLC, 9 Pembroke Street Upper, Dublin D02 KR83, Ireland, and telephone number +353 1 961 9350.

**FUSION FUEL GREEN PLC**

**$34,000,000**

**Class A Ordinary Shares**

**Preferred Shares**

**Debt Securities**

**Warrants**

**Units**

**PROSPECTUS**

**_______, 2025**

**PART II**

**INFORMATION NOT REQUIRED IN THE PROSPECTUS**

*Unless the context indicates otherwise, "we," "us," "our," "the Company," and similar references in this Part II*. "Information Not Required in the Prospectus" *refer to the operations of Fusion Fuel Green PLC, an Irish public limited company .* 

**Item 8. Indemnification of Directors and Officers.**

Pursuant to the Amended and Restated Constitution of the Company (the "Constitution"), subject to the provisions of and so far as may be permitted by the Companies Act 2014 of Ireland (the "Companies Act"), every person who is or was a director, officer or employee of the Company, and each person who is or was serving at the request of the Company as a director, officer or employee of another company, or of a partnership, joint venture, trust or other enterprise, shall be entitled to be indemnified by the Company against all costs, charges, losses, expenses and liabilities incurred by him or her in the execution and discharge of his or her duties or in relation thereto, including any liability incurred by him or her in defending any proceedings, civil or criminal, which relate to anything done or omitted or alleged to have been done or omitted by him or her as a director, officer or employee of the Company or such other company, partnership, joint venture, trust or other enterprise, and in which judgment is given in his or her favor (or the proceedings are otherwise disposed of without any finding or admission of any material breach of duty on his or her part) or in which he or she is acquitted or in connection with any application under any statute for relief from liability in respect of any such act or omission in which relief is granted to him or her by the court.

The Companies Act prescribes that such an indemnity only permits a company to indemnify any officer against any liability incurred by him or her (i) in defending proceedings where judgment is given in any civil or criminal action in his or her favor or in which he or she is acquitted, (ii) in connection with any proceedings for negligence, default, breach of duty or breach of trust against the officer where an Irish court grants relief because it appears to the court that the officer in question is or may be liable in respect of the negligence, default, breach of duty or breach of trust but that he or she acted honestly and reasonably and should therefore be granted relief from such liability or (iii) in connection with an application made by the officer to be relieved of liability in respect of a claim that the officer apprehends will be made against him or her in respect of any negligence, default, breach of duty or breach of trust, if such relief is granted to the officer by the court.

The Company is permitted under its Constitution and the Companies Act to purchase directors' and officers' liability insurance, as well as other types of insurance, for its directors, officers and employees.

The Company has entered into deeds of indemnity with its directors and executive officers. Given the director indemnification limitations arising under Irish law, the Company's subsidiary, Fusion Fuel Portugal, S.A. ("Fusion Fuel Portugal"), has also entered into such deeds of indemnity. These agreements, among other things, require the Company and Fusion Fuel Portugal to jointly and severally indemnify the Company's directors and executive officers as well as Fusion Fuel Portugal's directors and executive officers for certain expenses, including attorneys' fees, judgments, fines and settlement amounts incurred by any such director or executive officer in any action or proceeding arising out of their services as one of the Company's or Fusion Fuel Portugal's directors or executive officers or as a director or executive officer of any other company or enterprise to which the person provides services at the Company's or Fusion Fuel Portugal's request. We believe that these indemnification agreements are necessary to attract and retain qualified persons as directors and officers.

Insofar as indemnification for liabilities arising under the U.S. Securities Act of 1933, as amended (the "Securities Act"), may be permitted to directors, officers or persons controlling the Company pursuant to the foregoing provisions, the Company has been informed that in the opinion of the U.S. Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is theretofore unenforceable.

**Item 9. Exhibits.** 

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 1.1\* | Form of Underwriting Agreement |
| 3.1 | [Amended and Restated Constitution of Fusion Fuel Green PLC (incorporated by reference to Exhibit 1.1 to the Form 6-K filed on July 10 , 2025)](https://www.sec.gov/Archives/edgar/data/1819794/000121390025062528/ea024843401ex1-1_fusion.htm) |
| 4.1 | [Form of Indenture relating to debt securities (incorporated by reference to Exhibit 4.1 to the Registration Statement on Form F-3 filed on May 13, 2025)](https://www.sec.gov/Archives/edgar/data/1819794/000121390025042661/ea024167201ex4-1_fusion.htm) |
| 4.2\* | Form of Warrant Agreement |
| 4.3\* | Form of Unit Agreement |
| 4.4\* | Certificate of Designations |
| 5.1 | [Legal Opinion of Arthur Cox LLP](ex5-1.htm) |
| 5.2 | [Legal Opinion of Bevilacqua PLLC](ex5-2.htm) |
| 23.1 | [Consent of Bush & Associates CPA LLC as to its audit report relating to the financial statements of Fusion Fuel Green PLC](ex23-1.htm) |
| 23.2 | [Consent of KPMG as to its audit report relating to the financial statements of Fusion Fuel Green PLC](ex23-2.htm) |
| 23.3 | [Consent of Bush & Associates CPA LLC as to its audit report relating to the financial statements of Quality Industrial Corp.](ex23-3.htm) |
| 23.4 | [Consent of Arthur Cox LLP (included in Exhibit 5.1)](ex5-1.htm) |
| 23.5 | [Consent of Bevilacqua PLLC (included in Exhibit 5.2)](ex5-2.htm) |
| 24.1 | [Power of Attorney (included on the signature page to previously filed registration statement)](https://www.sec.gov/Archives/edgar/data/1819794/000121390025042661/ea0241672-f3_fusion.htm#s_020) |
| 25.1\*\* | Statement of Eligibility of the Trustee on Form T-1 |
| 107 | [Calculation of Filing Fee Table](ex107.htm) |

---

\* To be filed, if applicable, as an exhibit to a post-effective amendment to this registration statement or as an exhibit to a report of the registrant filed pursuant to the Securities Exchange Act of 1934 and incorporated herein by reference.

\*\* To be filed separately pursuant to Section 305(b)(2) of the Trust Indenture Act of 1939, if applicable.

**Item 10. Undertakings.**

&nbsp;&nbsp;&nbsp;&nbsp;(a) The
 undersigned registrant hereby undertakes:

(1) To
 file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) to
 include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;

(ii) to
 reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent
 post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set
 forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the
 total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of
 the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant to Rule 424(b) if,
 in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set
 forth in the "Calculation of Registration Fee" table in the effective registration statement; and

(iii) to
 include any material information with respect to the plan of distribution not previously disclosed in the registration statement
 or any material change to such information in the registration statement,

*provided, however*, that subsections (i), (ii) and (iii) above do not apply if the information required to be included in a post-effective amendment by those subsections is contained in reports filed with or furnished to the SEC by the registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration statement, or is contained in a form of prospectus filed pursuant to Rule 424(b) that is part of the registration statement.

&nbsp;&nbsp;&nbsp;&nbsp;(2) That,
 for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed
 to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall
 be deemed to be the initial *bona fide* offering thereof.

(3) To
 remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the
 termination of the offering.

(4) To
 file a post-effective amendment to the registration statement to include any financial statements required by Item 8.A of Form 20-F
 at the start of any delayed offering or throughout a continuous offering. Financial statements and information otherwise required
 by Section 10(a)(3) of the Act (15 U.S.C. 77j(a)(3)) need not be furnished, provided that the registrant includes in the prospectus,
 by means of a post-effective amendment, financial statements required pursuant to this paragraph (a)(4) and other information necessary
 to ensure that all other information in the prospectus is at least as current as the date of those financial statements. Notwithstanding
 the foregoing, with respect to registration statements on Form F-3, a post-effective amendment need not be filed to include financial
 statements and information required by Section 10(a)(3) of the Act or Item 8.A of Form 20-F if such financial statements and information
 are contained in periodic reports filed with or furnished to the Commission by the registrant pursuant to section 13 or section 15(d)
 of the Securities Exchange Act of 1934 that are incorporated by reference in the Form F-3.

&nbsp;&nbsp;&nbsp;&nbsp;(5) That,
 for the purpose of determining liability under the Securities Act of 1933, as amended, to any purchaser:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Each
 prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of this registration statement as of the
 date the filed prospectus was deemed part of and included in this registration statement; and

(ii) Each
 prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of this registration statement in reliance
 on Rule 430B relating to an offer made pursuant to Rule 415(a)(1)(i), (vii), or (x) for the purpose of providing the information
 required by section 10(a) of the Securities Act of 1933, as amended, shall be deemed to be part of and included in this registration
 statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract
 of sale of securities in the offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer
 and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement
 relating to the securities in the registration statement to which that prospectus relates, and the offering of such securities at
 that time shall be deemed to be the initial bona fide offering thereof. *Provided, however,* that no statement made in a registration
 statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference
 into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract
 of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus
 that was part of the registration statement or made in any such document immediately prior to such effective date.

&nbsp;&nbsp;&nbsp;&nbsp;(6) That,
 for the purpose of determining liability of the registrant under the Securities Act of 1933, as amended, to any purchaser in the
 initial distribution of the securities:

The undersigned registrant undertakes that in an offering of securities of the undersigned registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Any
 preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule
 424;

(ii) Any
 free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by
 the undersigned registrant;

(iii) The
 portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant
 or its securities provided by or on behalf of the undersigned registrant; and

(iv) Any
 other communication that is an offer in the offering made by the undersigned registrant to the purchaser.

&nbsp;&nbsp;&nbsp;&nbsp;(b) That,
 for purposes of determining any liability under the Securities Act of 1933, as amended, each filing of the registrant's annual
 report pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (and, where applicable, each filing
 of an employee benefit plan's annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934, as amended),
 that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the
 securities offered therein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering
 thereof.

(c) Insofar
 as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling
 persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion
 of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore,
 unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of
 expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action,
 suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered,
 the registrant will, unless in the opinion of its counsel has been settled by controlling precedent, submit to a court of appropriate
 jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed
 by the final adjudication of such issue.

(d) The
 undersigned registrant hereby undertakes that:

(1) For
 purposes of determining any liability under the Securities Act of 1933, the information omitted from the form of prospectus filed
 as part of this registration statement in reliance upon Rule 430A and contained in a form of prospectus filed by the registrant pursuant
 to Rule 424(b) (1) or (4) or 497(h) under the Securities Act shall be deemed to be part of this registration statement as of the
 time it was declared effective.

(2) For
 the purpose of determining any liability under the Securities Act of 1933, each post-effective amendment that contains a form of
 prospectus shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such
 securities at that time shall be deemed to be the initial bona fide offering thereof.

(e) To
 file an application for the purpose of determining the eligibility of the trustee to act under subsection (a) of Section 310 of the
 Trust Indenture Act in accordance with the rules and regulations prescribed by the Securities and Exchange Commission under Section 305(b)(2)
 of the Trust Indenture Act.

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form F-3 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Dublin, Ireland, on November 21 , 2025.

---

| | |
|:---|:---|
| **Fusion Fuel Green PLC** | **Fusion Fuel Green PLC** |
| By: | */s/ John-Paul Backwell* |
|  | John-Paul Backwell |
|  | Chief Executive Officer |

---

**POWER OF ATTORNEY**

Each person whose signature appears below constitutes and appoints each of John-Paul Backwell and Frederico Figueira de Chaves as his or her true and lawful attorneys-in-fact and agents with full power of substitution and resubstitution, for him or her and his or her name, place and stead, in any and all capacities, to sign any or all amendments (including pre- and post-effective amendments) to this registration statement, any subsequent registration statement for the same offering which may be filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended, and pre- or post-effective amendments thereto, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the foregoing, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or their substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| */s/ John-Paul Backwell* | Chief Executive Officer (principal executive officer), Chairman of the Board of Directors, and Director | November 21, 2025 |
| John-Paul Backwell |  |  |
| */s/ Frederico Figueira de Chaves* | Interim Chief Financial Officer (principal financial officer and principal accounting officer), Chief Strategy Officer, Head of Hydrogen Solutions, and Director | November 21, 2025 |
| Frederico Figueira de Chaves |  |  |
| */s/ Luisa Ingargiola* |  | November 21, 2025 |
| Luisa Ingargiola | Director |  |
|  | Director | November 21, 2025 |
| Pierce Crosby |  |  |
| */s/ Steven Gold* | Director | November 21, 2025 |
| Steven Gold |  |  |

---

**SIGNATURE OF AUTHORIZED REPRESENTATIVE IN THE UNITED STATES**

Pursuant to the Securities Act of 1933, the undersigned, the duly authorized representative in the United States of Fusion Fuel Green PLC has signed this registration statement or amendment thereto on November 21, 2025.

---

| | |
|:---|:---|
| By: | */s/ Luisa Ingargiola* |
| Name: | Luisa Ingargiola |
| Title: | Authorized Representative |

---

## Exhibit 5.1

**Exhibit 5.1**

**Our Reference**: FU049/003

21 November 2025

---

| | |
|:---|:---|
| To: | The Directors |
|  | Fusion Fuel Green Public Limited Company |
|  | 9 Pembroke Street Upper |
|  | Dublin 2 |
|  | D02 KR83 |
|  | Ireland |

---

Dear Directors,

1. **Basis of Opinion (the "Opinion")** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 We
 are acting as Irish counsel to Fusion Fuel Green Public Limited Company, registered number 669283, a public limited company, incorporated
 under the laws of Ireland, with its registered office at 9 Pembroke Street Upper, Dublin 2, D02 KR83, Ireland (the "**Company** "),
 in connection with the preparation of a registration statement on Form F-3 in the form of a "shelf" registration (the
 "**Registration Statement**") and the prospectus contained therein to be filed by the Company with the United States
 Securities and Exchange Commission (the "**SEC**") under the Securities Act 1933, as amended (the "**Act** ")
 relating to the proposed issuance and sale by the Company of an indeterminate number of the Company's Class A ordinary shares
 of US$0.0035 each in the capital of the Company ()"**Class A Shares** "), preferred shares of US$0.0001 each in the
 capital of the Company (the "**Preference Shares**" and together with the Class A Shares, the "**Shares** "),
 senior and subordinated debt securities (the "**Debt Securities**") to be issued in one or more series under a senior
 indenture or subordinated indenture, each in the forms filed as exhibits to the Registration Statement, as the same may be supplemented
 from time to time, (each an "**Indenture**" and together the "**Indentures**") warrants to purchase
 Class A Shares or any of the securities offered by the Registration Statement (the "**Warrants**") and units comprised
 of any combination of the foregoing securities for sale from time to time in one or more offerings (the "**Units** "
 and together with the Class A Shares, the Preference Shares, the Warrants and the Debt Securities, the "**Shelf Securities** "),
 in each case up to an aggregate offering amount of US$34,000,000 (or its equivalent in any other currency, currency units, or composite
 currency), to be offered on an immediate, continuous or delayed basis pursuant to the provisions of Rule 415 of the Securities Act
 (the "**Transaction** ").

![](ex5-1_002.jpg)

---

| |
|:---|
| ![](ex5-1_003.jpg) |
| Page 2 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 On
 5 May 2022, the Company filed with the SEC a registration statement on Form F-3 (File No. 333-264714) utilising a shelf registration
 process, which registration statement was declared effective on 13 May 2022 (the "**2022 F-3** "). Under the 2022 F-3,
 the Company was initially entitled to, from time to time, sell up to US$75,000,000.00 in the aggregate of Shelf Securities. In connection
 with the expiration of the 2022 F-3 on 13 May 2025, the Company will file the Registration Statement as a new shelf registration
 statement, with unsold securities and fees paid under the 2022 F-3 rolled over therein pursuant to Rule 415(a)(6) under the Securities
 Act.

1.3 This
 Opinion is solely for the benefit of the addressee of this Opinion and may not be relied upon, used, transmitted, referred to, quoted
 from, circulated, copied, filed with any governmental agency or authority, disseminated or disclosed by or to any other person or
 entity for any purpose(s) without our prior written consent. However, we hereby consent to the filing of this Opinion as an exhibit
 to the Registration Statement and to the reference to our firm under the caption "Legal Matters" in the prospectus constituting
 a part of the Registration Statement. In giving this consent, we do not hereby admit that we are within the category of persons whose
 consent is required within Section 7 of the Act or the rules and requisitions of the Securities and Exchange Commission thereunder.

1.4 This
 Opinion is given on the basis that our client is the Company. For the purposes of giving this Opinion, we have taken instructions
 solely from that client.

1.5 This
 Opinion is confined to and given in all respects of the basis of the laws of Ireland (meaning Ireland exclusive of Northern Ireland)
 in force as at the date hereof as currently applied by the courts of Ireland.

1.6 We
 have made no investigations of and we express no opinion as to the laws of any other jurisdiction or the effect thereof. In particular,
 we express no opinion on the laws of the European Union as they affect any jurisdiction other than Ireland. We have assumed without
 investigation that insofar as the laws of any jurisdiction other than Ireland are relevant, such laws do not prohibit and are not
 inconsistent with any of obligations or rights expressed in the Registration Statement or the transactions contemplated thereby.

1.7 This
 Opinion is strictly confined to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 matters expressly stated herein and is not to read as extending by implication or otherwise to any other matter; and

(b) the
 Registration Statement (and no other document whatsoever) and the searches listed in paragraph 1.10 below (the "**Searches** ")
 (and no other searches whatsoever),

---

| | |
|:---|:---|
|  | and is subject to the assumptions and qualifications set out below. |
| 1.8 | We express no opinion and make no representation or warranty, as to any matter of fact or in respect of any documents which may exist in relation to the filing of the Registration Statement. |
| 1.9 | In giving this Opinion, we have relied upon the Corporate Certificate and the Searches and we give this Opinion expressly on the terms that no further investigation or diligence in respect of any matter referred to in the Corporate Certificate or the Searches is required of us. |

---

---

| |
|:---|
| ![](ex5-1_003.jpg) |
| Page 3 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.10 For
 the purposes of this Opinion, we have reviewed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) a
 corporate certificate dated 21 November 2025, executed by the secretary of the Company (the "**Corporate Certificate** ");

(b) a
 copy of the resolutions of the board of directors of the Company (the "**Board**" held on 1 May 2022;

(c) the
 Searches;

(d) a
 draft of the Registration Statement (excluding exhibits).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.11 For
 the purpose of giving this Opinion, we have caused to be made the following legal searches against the Company on 21 November 2025:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) on
 the file of the Company maintained by the Registrar of Companies in the CRO for mortgages, debentures or similar charges or notices
 thereof and for the appointment of any receiver, examiner or liquidator;

(b) in
 the Judgments Office of the High Court for unsatisfied judgments, orders, decrees and the like for the twelve years immediately preceding
 the date of the search;

(c) in
 the Central Office of the High Court for any proceedings or petitions filed in respect of the Company in the last two years; and

(d) on
 the register of persons disqualified or restricted from acting as directors of companies incorporated in Ireland which is maintained
 by the Registrar of Companies in the CRO against the names of the current directors and secretary of the Company as identified in
 the search results referred to in paragraph (a) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.12 This
 Opinion is governed by and is to be construed in accordance with the laws of Ireland (as interpreted by the courts of Ireland at
 the date hereof) and anyone seeking to rely on this Opinion agrees, for our benefit, that the Courts of Ireland shall have exclusive
 jurisdiction to settle any dispute arising out of, or in connection with, this Opinion. This Opinion speaks only as of its date.
 We assume no obligation to update this Opinion at any time or to advise the addressee of this Opinion of any change in law or change
 in interpretation of law which may occur after the date of this Opinion.

1.13 No
 opinion is expressed on the taxation consequences of the Registration Statement and any of the matters contemplated thereby.

---

| | |
|:---|:---|
| 2. | **Opinion** |
|  | Subject to the assumptions and qualifications set out in this Opinion, we are of the opinion that: |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 The
 Company is a public limited company and is duly incorporated and validly existing under the laws of Ireland and as such is required
 as a matter of Irish company law to maintain its registered office in Ireland.

2.2 When
 the Shares have been duly authorised by the Company and their issuance has been duly authorised by the Board, such Shares, when issued,
 sold and paid for as contemplated in the Registration Statement, Prospectus Supplement (as defined below) and any applicable Securities
 Agreement (as defined below), and registered in the register of members of the Company, such Shares will be validly issued and fully
 paid.

---

| |
|:---|
| ![](ex5-1_003.jpg) |
| Page 4 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 The
 Company has the requisite corporate capacity to issue each of the Debt Securities, Indentures, Warrants and Units (the "**Other Securities** ").

2.4 With
 respect to the Other Securities, when the Board has taken all necessary corporate actions to approve the issuance thereof, the issue
 of the Other Securities will be duly authorised under Irish law and the Company's Constitution (the "**Constitution** ").

---

| | |
|:---|:---|
| 3. | **Assumptions** |
|  | For the purpose of giving this Opinion we assume the following, without any responsibility on our part if any assumption proves to have been untrue as we have not verified independently any assumption: |
|  | *Authenticity and bona fides* |

---

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 The
 truth, completeness, accuracy and authenticity of all copy letters, resolutions, certificates, permissions, minutes, authorisations
 and all other documents of any kind submitted to us as originals or copies of originals, and (in the case of copies) conformity to
 the originals of copy documents, the genuineness of all signatures (electronic or otherwise), stamps and seals thereon, that any
 signatures (electronic or otherwise) are the signatures of the persons who they purport to be, that each witness to a signature actually
 witnessed that signature, and that each original was executed in the manner appearing on the copy.

3.2 That
 the register of members of the Company is up to date and has been correctly completed in accordance with the Constitution and the
 Companies Act 2014 (the "**2014 Act** ").

3.3 That,
 where an incomplete Registration Statement has been submitted to us, the original of such Registration Statement corresponds in all
 respects with the last or final draft of the complete Registration Statement submitted to us.

3.4 That
 the copies produced to us of minutes of meetings and/or of resolutions correctly record the proceedings at such meetings and/or the
 subject matter which they purport to record and that any meetings referred to in such copies were duly convened, duly quorate and
 held, that those present at any such meetings were entitled to attend and vote at the meeting and acted bona fide throughout and
 that no further resolutions have been passed or corporate or other action taken which would or might alter the effectiveness thereof
 and that such resolutions (whether passed at a meeting or by way of written resolution) have not been amended or rescinded and are
 in full force and effect.

3.5 That
 each director of the Company has disclosed any interest which he may have in the Transaction in accordance with the provisions of
 the 2014 Act and the Constitution and none of the directors of the Company has any interest in the Transaction except to the extent
 permitted by the Constitution.

3.6 The
 absence of fraud, coercion, duress or undue influence and lack of bad faith on the part of the parties to the documents and their
 respective officers, employees, agents and (with the exception of Arthur Cox LLP) advisers.

---

| |
|:---|
| ![](ex5-1_003.jpg) |
| Page 5 |

---

 

*Restrictions and Disqualifications*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.7 That,
 based only on the Searches, no person who has been appointed or acts in any way, whether directly or indirectly, as a director or
 secretary of, or who has been concerned in or taken part in the promotion of, the Company has:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) been
 the subject of any declaration, order or deemed order for disqualification or restriction under the 2014 Act (including Part 14,
 Chapters 3 and 4 thereof) or any analogous legislation; or

(b) received
 any notice under the 2014 Act (including Part 14, Chapter 5 thereof) or any analogous legislation regarding a disqualification or
 restriction undertaking.

*Accuracy of Searches and the Corporate Certificate*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.8 The
 accuracy and completeness of the information disclosed in the Searches and that such information is accurate as of the date of this
 Opinion and has not since the time of such Search been altered. In this connection, it should be noted that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 matters disclosed in the Searches may not present a complete summary of the actual position on the matters we have caused searches
 to be conducted for and the position reflected by the Searches may not be fully up-to-date; and

(b) searches
 at the CRO do not necessarily reveal whether or not a prior charge has been created or a resolution has been passed or a petition
 presented or any other action taken for the winding-up of, or the appointment of a receiver or an examiner to, the Company or its
 assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.9 The
 truth, completeness and accuracy of all representations and statements as to factual matters
 contained in the Corporate Certificate at the time they were made and at all times thereafter.

*No other information and compliance*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 That
 the Registration Statement and the documents contemplated therein and the forms attached
 as exhibits thereto relating to the issuance and sale of the Shelf Securities are the only
 documents relating to the subject matter of this transaction and that there are no agreements
 or arrangements in existence between the parties to the documents contemplated by the Registration
 Statement which in any way amend or vary the terms of the Registration Statement or in any
 way bear upon or are inconsistent with the opinions stated herein.

*Authority, Capacity, Execution and Enforceability*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.11 The
 filing of the Registration Statement and the issuance and sale of the Shelf Securities (i) does and will not contravene the laws
 of any jurisdiction outside Ireland; (ii) does not and will not result in any breach of any agreement, instrument and obligation
 to which any party thereto is a party and (iii) will not be illegal or unenforceable by virtue of the laws of that jurisdiction.

3.12 That
 the Shelf Securities will be issued and sold in the manner contemplated in the Registration Statement.

---

| |
|:---|
| ![](ex5-1_003.jpg) |
| Page 6 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13 That,
 at the time of the issuance and sale of any of the Shelf Securities, the effectiveness of the Registration Statement (including any
 post-effective amendments) shall not have been terminated or rescinded.

3.14 That
 the Company will deliver and file an appropriate prospectus supplement with respect to an offering of Shelf Securities in compliance
 with the Act and the applicable rules and regulations (the "**Prospectus Supplement**") and that the provisions relating
 to the issuance of any Shelf Securities pursuant to the provisions of any Prospectus Supplement will be compliant with Irish law.

3.15 That
 any document recording the authorisation of the transactions contemplated by the Registration Statement, including any issue of Shares,
 is a true, complete and accurate record of an authorisation which is valid in all respects.

3.16 That
 all authorisations, approvals or licences required under any law for any party (other than the Company) to enter into or to perform
 any of its obligations under a transaction contemplated by the Registration Statement have been obtained, remain valid and subsisting
 and have been complied with.

3.17 That
 no law or official directive of any jurisdiction, other than the laws of Ireland, affects any of the opinions expressed.

3.18 That,
 insofar as any obligation under any document examined is to be performed in any jurisdiction other than Ireland, its performance
 will not be illegal or unenforceable under the law of that jurisdiction.

3.19 That
 the formalities for execution required by the law of the place of execution of each document examined have or will be complied with.

3.20 That
 the Company will comply with its obligations under, and the representations and warranties contained in the documents referred to
 in, the Registration Statement.

*Shares*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.21 That
 the rights attaching to the Preference Shares will be validly determined prior to their issue in accordance with the Constitution
 and the 2014 Act.

3.22 That
 the Board will approve the allotment and issue of the Shares in accordance with the Constitution and the 2014 Act and such Shares
 will be issued in compliance with the Constitution and the 2014 Act.

3.23 That
 at the time of the execution and delivery of any definitive purchase, underwriting or similar agreement between the Company and any
 third party under which any Shelf Securities may be issued (the "**Securities Agreement** "), the Securities Agreement
 will be the valid and legally binding obligation of such third party, enforceable against such third party in accordance with its
 terms, and that the provisions relating to the issuance of any Shelf Securities pursuant to the provisions of any Securities Agreement
 will be compliant with Irish law. That, upon issue, each holder of the Shares will have fully paid the amount payable to the Company
 for their Shares.

3.24 That,
 upon issue, the Shares will be duly registered and will continue to be registered in the Company's register of members.

3.25 That
 any issue of the Shares will be in compliance with the 2014 Act, the Takeover Panel Act, 1997, Takeover Rules, 2022 of Ireland (as
 may be amended), and all other applicable Irish company, takeover, securities, market abuse, insider dealing laws and other rules
 and regulations.

---

| |
|:---|
| ![](ex5-1_003.jpg) |
| Page 7 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.26 That,
 at the time any Shares are issued and allotted by the Company in accordance with the Registration
 Statement, the Prospectus Supplement and any applicable Securities Agreement, there will
 be sufficient authorised but unissued share capital under the Constitution to effect such
 issuance without exceeding any applicable limit on the Company's authorised share capital.

*Solvency and Insolvency*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.27 That:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Company was not unable to pay its debts within the meaning of Sections 509(3) and 570 of the 2014 Act or any analogous provisions
 under any applicable laws immediately after the filing of the Registration Statement; and

(b) the
 Company will not as a consequence of doing any act or thing which the Registration Statement contemplates, permits or requires the
 relevant party to do, be unable to pay its debts within the meaning of such Sections or any analogous provision under any applicable
 laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.28 That,
 upon the opening of any insolvency proceedings pursuant to Regulation (EU) 2015/848 of the
 European Parliament and of the Council of 20 May 2015 on insolvency proceedings (recast)
 (the "**Recast EU Insolvency Regulation** "), the Company will have its "centre
 of main interests" (as that term is used in Article 3(1) of the Recast EU Insolvency
 Regulation) in Ireland being the jurisdiction in which the Company has its registered office
 and will not have an "establishment" (being any place of operations where a debtor
 carries out or has carried out in the 3-month period prior to the request to open main insolvency
 proceedings a non-transitory economic activity with human means and assets) as defined in
 Article 2(10) of the Recast EU Insolvency Regulation outside Ireland.

4. **Qualifications** 

The opinions set out in this Opinion are subject to the following reservations:

*Enforcement and binding effect*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 The
 description of obligations in this Opinion as "enforceable" refers to the legal
 character of the obligations assumed by the relevant party under the relevant instrument.
 It implies no more than the obligations are of a character which the laws of Ireland recognise
 and will in certain circumstances enforce. In particular, it does not mean or imply that
 the relevant instrument will be enforced in all circumstances in accordance with its terms
 or by or against third parties or that any particular remedy will be available. In particular
 (without limiting the foregoing):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 binding effect and enforceability of the obligations of the Company contemplated under any
 of the Shelf Securities may be limited by liquidation, insolvency, bankruptcy, receivership,
 court protection, examinership, moratoria, reorganisation, reconstruction, company voluntary
 arrangements, fraud of creditors, fraudulent preference of creditors or similar laws whether
 in Ireland or elsewhere affecting creditors' rights generally;

---

| |
|:---|
| ![](ex5-1_003.jpg) |
| Page 8 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 binding effect and enforceability of the obligations of the Company under any of the Shelf Securities may also be limited as a result
 of the provisions of the laws of Ireland applicable to contracts held to have become frustrated by events happening after their execution,
 and any breach of the terms of any document by the party seeking to enforce such document;

(c) enforcement
 may be limited by general principles of equity. In particular, equitable remedies are not available where damages are considered
 to be an adequate remedy; the remedy of specific performance is discretionary and will not normally be ordered in respect of a monetary
 obligation; and injunctions are granted only on a discretionary basis and accordingly we express no opinion on such matters;

(d) claims
 may become barred under the Statute of Limitations 1957 or may be or become subject to the defence of set-off or counterclaim;

(e) enforcement
 will be subject to, netting, claims and attachment and any other rights of another party to a contract; and

(f) enforcement
 may be limited by reason of fraud.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 Where
 any obligations of any person are to be performed in jurisdictions outside Ireland, such obligations may not be enforceable under
 Irish law to the extent that performance thereof would be illegal under the laws of any such jurisdiction or contrary to public policy
 under the laws of any such jurisdiction and an Irish court may take into account the law of the place of performance in relation
 to the manner of performance and to the steps to be taken in the event of defective performance.

4.3 Where
 a judgment creditor seeks to enforce his judgment, he can only do so in accordance with the applicable rules of Irish courts. The
 making of an execution order against particular assets, such as a charging order over land or a beneficial interest therein or most
 types of investment or a third party debt order over a bank account or certain other debts, is a matter for the Court's discretion.

*General Matters*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 A
 determination or a certificate as to any matter provided for in any of the Shelf Securities may be held by an Irish court not to
 be final, conclusive or binding if such determination or certificate could be shown to have an unreasonable, incorrect or arbitrary
 basis or not to have been given or made in good faith.

4.5 Where
 a party to any of the Shelf Securities is vested with a discretion or may determine a matter in its opinion, Irish law may require
 that such discretion is exercised reasonably or that such opinion is based upon reasonable grounds.

4.6 A
 particular course of dealing among the parties or an oral amendment, variation or waiver may result in an Irish court finding that
 the terms of any of the Shelf Securities have been amended, varied or waived even if such course of dealing or oral amendment, variation
 or waiver is not reflected in writing among the parties.

4.7 The
 effectiveness of the provisions of any of the Shelf Securities excusing a party from a liability or duty otherwise owed are limited
 by Irish law, particularly in relation to a fundamental breach of the contract.

4.8 We
 express no opinion as to any obligation which any of the Shelf Securities may purport to establish in favour of any person who is
 not a party thereto.

4.9 Any
 provision of any of the Shelf Securities which constitutes, or purports to constitute, a restriction on the exercise of any statutory
 power by any party thereto or any other person may be ineffective.

4.10 To
 the extent that any matter is expressly to be determined by future agreement or negotiation, the relevant provision may be unenforceable
 or void for uncertainty.

---

| |
|:---|
| Yours faithfully, |
| <u>/s/ Arthur Cox LLP</u> |
| **ARTHUR COX LLP** |

---

## Exhibit 5.2

**Exhibit 5.2**

![](ex5-2_001.jpg)

**E:** lou@bevilacquapllc.com

**T:** 202.869.0888

**W:** bevilacquapllc.com

November 21, 2025

Fusion Fuel Green PLC

9 Pembroke Street Upper

Dublin D02 KR83

Ireland

Re: Registration Statement on Form F-3

Ladies and Gentlemen:

We have acted as United States counsel to Fusion Fuel Green PLC, a public company limited by shares incorporated in the Republic of Ireland (the "Company"), in connection with its filing of the Registration Statement on Form F-3, as amended on the date hereof (the "Registration Statement"), relating to the registration under the Securities Act of 1933, as amended (the "Securities Act"), for the issue and sale by the Company of up to $34,000,000 or the equivalent thereof in one or more foreign currencies, foreign currency units or composite currencies of (a) class A ordinary shares with a nominal value of $0.0035 each ("Class A Ordinary Shares"), (b) preferred shares with a nominal value of $0.0001 each ("Preferred Shares"), (c) debt securities, in one or more series (the "Debt Securities"), (d) warrants to purchase Class A Ordinary Shares, Preferred Shares, Debt Securities, or any combination thereof, which may be issued pursuant to one or more warrant agreements of the Company, proposed to be entered into with one or more warrant agents to be named therein (the "Warrants"), and (e) units consisting of any of the securities describe above, or any combination thereof (the "Units" and together with the Debt Securities and the Warrants, the "Documents"). The Class A Ordinary Shares, the Preferred Shares, the Debt Securities, the Warrants, and the Units are collectively referred to herein as the "Securities" and individually as a "Security". The Securities shall include any additional amounts of such securities the offer and sale of which are registered pursuant to a registration statement filed pursuant to Rule 462(b) under the Securities Act in connection with one or more offerings contemplated by such Registration Statement. The Debt Securities will be issued under an indenture of the Company, proposed to be entered into with a trustee to be named therein (the "Trustee"), as such indenture may be supplemented from time to time (the "Indenture").

We have reviewed the Registration Statement and such other agreements, documents, records, certificates and other materials, and have reviewed and are familiar with such corporate proceedings and satisfied ourselves as to such other matters, as we have considered relevant or necessary as a basis for this opinion. In such review, we have assumed the accuracy and completeness of all agreements, documents, records, certificates and other materials submitted to us, the conformity with the originals of all such materials submitted to us as copies (whether or not certified and including facsimiles), the authenticity of the originals of such materials and all materials submitted to us as originals, the genuineness of all signatures and the legal capacity of all natural persons.

On the basis of the assumptions and subject to the qualifications and limitations set forth herein, we are of the opinion that:

I. With
 respect to the Debt Securities to be issued under the Indenture to be entered into by the Company and the Trustee, when (a) the specific
 terms of any particular series of Debt Securities have been duly established in accordance with the Indenture and applicable law
 and authorized by all necessary corporate action of the Company (including the adoption by the board of directors of the Company
 (the "Board") of resolutions duly authorizing the issuance and delivery of such Debt Securities and the Securities that
 such Debt Securities may be exchangeable for and/or convertible into), and (b) any such Debt Securities have been duly executed and
 issued by the Company, duly authenticated by the Trustee and duly delivered by or on behalf of the Company against payment therefor
 in accordance with the Indenture and in the manner contemplated by the Registration Statement and/or the related prospectus and by
 such corporate action, such Debt Securities will be the legally valid and binding obligations of the Company, enforceable against
 the Company in accordance with their terms.

1050 Connecticut Ave., NW, Suite 500

Washington, DC 20036

---

| | |
|:---|:---|
| PG. 2<br>November 21, 2025 | ![](ex5-2_002.jpg) |

---

II. With
 respect to the Warrants to be issued by the Company, when (a) the specific terms of any such Warrants have been duly established
 in accordance with applicable law and authorized by all necessary corporate action of the Company (including the adoption by the
 Board of resolutions duly authorizing the issuance and delivery of such Warrants and the Securities that such Warrants may be exercisable
 for), and (b) any such Warrants have been duly executed and issued by the Company and such Warrants have been duly delivered by or
 on behalf of the Company against payment therefor in accordance with the Warrants and/or any warrant agreement and in the manner
 contemplated by the Registration Statement and/or the related prospectus and by such corporate action, such Warrants will be the
 legally valid and binding obligations of the Company, enforceable against the Company in accordance with their terms.

III. With
 respect to the Units to be issued by the Company, when (a) the Board has taken all necessary corporate action to approve the issuance
 and establish the terms of securities underlying such Units in connection therewith, the terms of such Units, the terms of the offering
 of such Units, and related matters, (b) if applicable, one or more agreements incorporating the terms and other provisions of such
 Units has been duly authorized, executed and delivered by the Company and a unit agent (a "Unit Agreement"), (c) such
 Units have been duly executed and authenticated or countersigned in accordance with the terms of such Unit Agreement, and (d) the
 Units have been issued and sold in the manner contemplated by the Registration Statement and in accordance with such Unit Agreement,
 such Units will constitute the valid and legally binding obligations of the Company, enforceable against the Company in accordance
 with their terms.

Each opinion in this letter that any Security is a valid and binding obligation or is enforceable in accordance with its terms is subject to: (i) the effect of bankruptcy, insolvency, fraudulent conveyance and other similar laws and judicially developed doctrines in this area such as substantive consolidation and equitable subordination; (ii) the effect of general principles of equity; and (iii) other commonly recognized statutory and judicial constraints on enforceability including statutes of limitations. In addition, we do not express any opinion as to the enforceability of any rights to contribution or indemnification which may be violative of public policy underlying any law, rule or regulation (including any federal or state securities law, rule or regulation). "General principles of equity" include, but are not limited to: Principles limiting the availability of specific performance and injunctive relief; principles which limit the availability of a remedy under certain circumstances where another remedy has been elected; principles requiring reasonableness, good faith and fair dealing in the performance and enforcement of an agreement by the party seeking enforcement; principles which may permit a party to cure a material failure to perform its obligations; and principles affording equitable defenses such as waiver, laches and estoppel. It is possible that terms in a particular contract covered by our opinion may not prove enforceable for reasons other than those explicitly cited in this letter should an actual enforcement action be brought, but (subject to all the exceptions, qualifications, exclusions and other limitations contained in this letter) such unenforceability would not in our opinion prevent the party entitled to enforce that contract from realizing the principal benefits purported to be provided to that party by the terms in that contract which are covered by our opinion.

Except as noted below, our advice on every legal issue addressed in this letter is based exclusively on the internal law of the State of New York and the federal law of the United States as in effect on the date hereof (the "Applicable Laws") and we express no opinion with respect to the applicability thereto, or the effect thereon, of the laws of any other jurisdiction or as to any matters or municipal law or the laws of any local agencies within any state. For purposes of the opinions herein we have assumed that the governing law under each of the Documents shall be the laws of the State of New York. We express no opinion as to what law might be applied by any other courts to resolve any issue addressed by our opinion and we express no opinion as to whether any relevant differences exist between the laws upon which our opinions are based and any other laws which may actually be applied to resolve issues which may arise under any of the Documents. The manner in which any particular issue would be treated in any actual court case would depend in part on facts and circumstances particular to the case and would also depend on how the court involved chose to exercise the wide discretionary authority generally available to it. This letter is not intended to guarantee the outcome of any legal dispute that may arise in the future.

---

| | |
|:---|:---|
| PG. 3<br>November 21, 2025 | ![](ex5-2_002.jpg) |

---

We have not undertaken any search of court records for purposes of this letter. We have assumed that each applicable party to the Documents (i) is an entity duly incorporated or organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization; (ii) has adopted by requisite vote of its board of directors, board of managers or analogous governing body the resolutions or approvals necessary to authorize such party's execution, delivery and performance of such Documents; (iii) has duly authorized, executed and delivered such Documents; (iv) has all corporate and other organizational power and authority (including without limitation the power and authority under the laws of its jurisdiction of organization) to execute and deliver such Documents and perform its respective obligations under such Documents; (v) has satisfied all legal requirements that are applicable to such party to the extent necessary to entitle such party to enforce such Documents; and (vi) is not required by any law to obtain any consent, approval, authorization or order of any court or governmental agency in order to obtain the right to enter into such Documents or to take any action taken by it in connection with the consummation of the transactions contemplated in the Documents in accordance with their terms, and the execution and delivery by such party of the Documents, and that the consummation of the transactions contemplated thereby in accordance with the terms thereof will not violate any existing provisions of the organizational documents of such party or any law or governmental regulation. For purposes of the opinions above, we have assumed, without conducting any research or investigation with respect thereto, the corporate or other power of, and the due authorization, execution and delivery of the Documents by, the Company, the absence of any conflicts with the organizational documents of the Company and the absence of any conflicts with, or consents required under, the laws, rules and regulations of any jurisdiction other than the State of New York.

In preparing this letter we have relied without independent verification upon: (i) information contained in certificates obtained from governmental authorities; and (ii) factual information provided to us by the Company. We have assumed that there has been no relevant change or development between the dates as of which the information cited in the preceding sentence was made available to us and the date of this letter and that the information upon which we have relied is accurate and does not omit disclosures necessary to prevent such information from being misleading. Whenever this letter provides advice about (or based upon) our knowledge of any particular information, such advice is based entirely on the actual knowledge at the time this letter is delivered on the date it bears by the lawyers with Bevilacqua PLLC who have represented or are representing the Company in connection with the issuance of the Securities after consultation with other lawyers with Bevilacqua PLLC who have represented the Company on other substantive matters.

None of the opinions or other advice contained in this letter considers or covers: (a) any antifraud laws, rules or regulations; (b) any state securities (or "blue sky") laws or regulations or securities laws or regulations of jurisdictions outside the United States; (c) any financial statements or supporting schedules (or any notes to any such statements or schedules) or other financial or statistical information derived therefrom set forth in (or omitted from) the Registration Statement and/or the related prospectus; or (d) any laws, statutes, governmental rules or regulations or decisions which in our experience are not usually considered for or covered by opinions like those contained in this letter or are not generally applicable to transactions of the kind covered by the Documents including any regulatory laws or requirements specific to the industry in which the Company is engaged. In addition, none of the opinions or other advice contained in this letter covers or otherwise addresses any of the following types of provisions which may be contained in the Documents: (i) provisions mandating contribution towards judgments or settlements among various parties; (ii) waivers of benefits and rights to the extent they cannot be waived under applicable law; (iii) provisions providing for liquidated damages, late charges and prepayment charges, in each case if deemed to constitute penalties; or (iv) requirements in the Documents specifying that provisions thereof may only be waived in writing (these provisions may not be valid, binding or enforceable to the extent that an oral agreement or an implied agreement by trade practice or course of conduct has been created modifying any provision of such documents).

The foregoing opinion is limited to the laws of the State of New York. Insofar as the foregoing opinions involve matters governed by the laws of the Republic of Ireland, we have relied, without independent inquiry or investigation, on the opinions of Arthur Cox LLP, Irish counsel for the Company, delivered to you today. The opinions set forth in this letter are being furnished in accordance with the requirements of Item 601(b)(5) of Regulation S-K promulgated under the Securities Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement, other than as to the specific issues addressed herein, and no opinion may be inferred or implied beyond that expressly stated herein.

We hereby consent to the use of this opinion letter as an exhibit to the Registration Statement and to the use of our name under the caption "Legal Matters" in the Registration Statement and in the Prospectus forming a part thereof and any supplement thereto. In giving this consent, we do not thereby admit that we are within the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations promulgated thereunder.

---

| |
|:---|
| Very truly yours, |
| /s/ Bevilacqua PLLC |

---

## Exhibit 23.1

**Exhibit 23.1**

**Consent of Independent Registered Public Accounting Firm**

We consent to the use of our report dated May 9, 2025, relating to the financial statements of Fusion Fuel Green PLC as of and for the year ended December 31, 2024, incorporated herein by reference and to the reference to our firm under the heading "Experts" in the prospectus.

/s/ Bush & Associates CPA LLC

Bush & Associates CPA LLC (PCAOB 6797)

Henderson, Nevada

November 21, 2025

## Exhibit 23.2

**Exhibit 23.2**

**Consent of Independent Registered Public Accounting Firm**

We consent to the use of our report dated April 30, 2024, with respect to the consolidated financial statements of Fusion Fuel Green plc, incorporated herein by reference and to the reference to our firm under the heading "Experts" in the prospectus.

/s/ KPMG

Dublin, Ireland

November 21, 2025

## Exhibit 23.3

**Exhibit 23.3**

**Consent of Independent Registered Public Accounting Firm**

We consent to the use of our report dated March 10, 2025, relating to the financial statements of Quality Industrial Corp. as of and for the years ended December 31, 2023 and 2022, incorporated herein by reference and to the reference to our firm under the heading "Experts" in the prospectus.

Very truly yours,

/s/ Bush & Associates CPA LLC

Bush & Associates CPA LLC (PCAOB 6797)

November 21, 2025

## Ex-Filing

?xml version='1.0' encoding='ASCII'?

**Exhibit 107**

**Calculation of Filing Fee Table**

Form F-3 <br> (Form Type)

Fusion Fuel Green PLC <br> (Exact Name of Registrant as Specified in its Charter)

Table 1: Newly Registered and Carry Forward Securities

333-287226

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Security Type** | **Security Class Title** | **Fee Calculation or Carry Forward Rule** | **Amount Registered<sup>(1)</sup>** | **Proposed Maximum Offering Price Per Unit<sup>(2)</sup>** | **Maximum Aggregate Offering Price<sup>(1)(2)</sup>** | **Fee Rate** | **Amount of Registration Fee** | **Carry<br> Forward<br> Form<br> Type** | **Carry<br> Forward<br> File<br> Number** | **Carry<br> Forward<br> Initial<br> Effective<br> Date** | **Filing<br> Fee<br> Previously<br> Paid In<br> Connection<br> with<br> Unsold<br> Securities<br> to be<br> Carried<br> Forward** |
| Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities |
| Fees to be Paid | Equity | Class A ordinary shares with a nominal value of $0.0001 each | Rule 457(o) |  |  |  |  |  |  |  |  |  |
| Fees to be Paid | Equity | Preferred shares with a nominal value of $0.0001 each | Rule 457(o) |  |  |  |  |  |  |  |  |  |
| Fees to be Paid | Other | Debt Securities | Rule 457(o) |  |  |  |  |  |  |  |  |  |
| Fees to be Paid | Other | Warrants | Rule 457(o) |  |  |  |  |  |  |  |  |  |
| Fees to be Paid | Other | Units | Rule 457(o) |  |  |  |  |  |  |  |  |  |
| Fees to be Paid | Other | Unallocated (Universal) Shelf | Rule 457(o) |  |  | $0 | 0.00013810 | $0<sup>(3)</sup> |  |  |  |  |
| Carry Forward Securities | Carry Forward Securities | Carry Forward Securities | Carry Forward Securities | Carry Forward Securities | Carry Forward Securities | Carry Forward Securities | Carry Forward Securities | Carry Forward Securities | Carry Forward Securities | Carry Forward Securities | Carry Forward Securities | Carry Forward Securities |
| Carry Forward Securities | Equity | Class A ordinary shares with a nominal value of $0.0001 each | 415(a)(6)<sup>(3)</sup> |  |  |  |  |  | F-3 | 333-264714 | 5/13/2022<sup>(3)</sup> |  |
| Carry Forward Securities | Equity | Preferred shares with a nominal value of $0.0001 each | 415(a)(6)<sup>(3)</sup> |  |  |  |  |  | F-3 | 333-264714 | 5/13/2022<sup>(3)</sup> |  |
| Carry Forward Securities | Other | Debt Securities | 415(a)(6)<sup>(3)</sup> |  |  |  |  |  | F-3 | 333-264714 | 5/13/2022<sup>(3)</sup> |  |
| Carry Forward Securities | Other | Warrants | 415(a)(6)<sup>(3)</sup> |  |  |  |  |  | F-3 | 333-264714 | 5/13/2022<sup>(3)</sup> |  |
| Carry Forward Securities | Other | Units | 415(a)(6)<sup>(3)</sup> |  |  |  |  |  | F-3 | 333-264714 | 5/13/2022<sup>(3)</sup> |  |
| Carry Forward Securities | Other | Unallocated (Universal) Shelf | 415(a)(6) |  |  | $34000000.00<sup>(1) (3)</sup> | 0.00013810<sup>(3)</sup> |  | F-3 | 333-264714 | 5/13/2022 | $4695.40<sup>(3)</sup> |
|  | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** |  |  | $34000000.00 |  | $0.00 |  |  |  |  |
|  | **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** |  |  |  |  | $0.00 |  |  |  |  |
|  | **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** |  |  |  | $0.00 |  |  |  |  |
|  | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** |  |  |  |  | $0.00 |  |  |  |  |

---

(1) There
 are being registered hereunder such indeterminate (a) number of Class A ordinary shares with
 a nominal value of $0.0035 each ("Class A Ordinary Shares"), (b) number of preferred
 shares with a nominal value of $0.0001 each ("Preferred Shares"), (c) principal
 amount of debt securities, (d) number of warrants to purchase Class A Ordinary Shares, Preferred
 Shares or debt securities; and (e) number of units. If any debt securities are issued at
 an original issue discount, then the offering price of such debt securities shall be in such
 greater principal amount as shall result in an aggregate initial offering price not to exceed
 $34,000,000.00. Any securities registered hereunder may be sold separately or as units with
 other securities registered hereunder. The securities registered also include such indeterminate
 number of Class A Ordinary Shares, Preferred Shares, and debt securities as may be issued
 upon conversion, exercise or exchange of convertible, exercisable or exchangeable securities
 being registered hereunder or pursuant to the antidilution provisions of any such securities.
 In addition, pursuant to Rule 416 under the Securities Act of 1933, as amended (the "Securities
 Act"), the securities being registered hereunder include such indeterminate number
 of securities as may be issuable with respect to the securities being registered hereunder
 as a result of share splits, share dividends or similar transactions.

(2) The
 proposed maximum aggregate offering price for each class of securities will be determined
 from time to time by the registrant in connection with the issuance by the registrant of
 the securities registered hereunder and is not specified as to each class of securities pursuant
 to General Instruction II.G. of Form F-3 under the Securities Act.

(3) Pursuant
 to Rule 415(a)(6) under the Securities Act ("Rule 415(a)(6)"), the securities
 registered hereunder include securities previously registered by the registrant pursuant
 to the registration statement on Form F-3, Registration No. 333-264714 (the "Prior
 Registration Statement"), which was declared effective on May 13, 2022, that have not
 yet been sold. The Prior Registration Statement registered the offer and sale of the registrant's
 Class A Ordinary Shares, Preferred Shares, debt securities, warrants, and/or units having
 an aggregate initial offering price not to exceed $75,000,000.00, as to which a filing fee
 of $6,952.50 was previously paid. $58,659,943.84 of these securities remained unsold by the
 registrant as of the date of filing of the amendment to the registration statement to which
 this exhibit is attached (the "Renewal Registration Statement"). Pursuant to
 Rule 415(a)(6), the offering of the unsold securities under the Prior Registration Statement
 will be deemed terminated as of the date of effectiveness of the Renewal Registration Statement.
 Based on the current fee rate of $138.10 per million dollars registered, $34,000,000 of the
 unsold securities is being registered hereby pursuant to Rule 415(a)(6), and $4,695.40 of
 the filing fee paid in connection with the unsold securities that were registered on the
 Prior Shelf Registration Statement will continue to be applied to such unsold securities.
 For the reasons stated above, the net registration fee paid in connection with the unsold
 securities is $0. To the extent that, after the filing date hereof and prior to the effectiveness
 of the Renewal Registration Statement, the registrant sells any unsold securities pursuant
 to the Prior Registration Statement, the registrant will identify in a pre-effective amendment
 to Renewal Registration Statement the updated amount of unsold securities from the Prior
 Registration Statement to be included in Renewal Registration Statement pursuant to Rule
 415(a)(6).