Fusion Fuel said it expects to acquire a 2.0% Net Smelter Return (NSR) royalty on the PLS Regional uranium exploration project in CanadaaEUR(TM)s Athabasca Basin, operated by Cameco in joint venture with Denison Mines, as part of its planned acquisition of Royal UraniumaEUR(TM)s royalty portfolio.

Fusion Fuel Green PLC (Nasdaq: HTOO) ("Fusion Fuel" or the "Company"), a leading provider of full-service energy engineering, advisory, and utility solutions, today provided certain highlights of the uranium royalty portfolio anticipated to be acquired through its previously announced definitive agreement with Royal Uranium, highlighting a 2.0% Net Smelter Return (NSR) royalty on the PLS Regional uranium exploration project, operated by Cameco Corporation in joint venture with Denison Mines Corp in Canada's Athabasca Basin.

Upon closing of the Royal Uranium transaction, Fusion Fuel is expected to gain royalty exposure to exploration and potential future development activity in the Athabasca Basin without funding exploration or mine development capital.

The PLS Regional royalty is one of 16 uranium royalty interests included in the Royal Uranium portfolio spanning the Athabasca Basin, Newfoundland, Colombia, and Argentina.

Management believes the Royal Uranium transaction positions Fusion Fuel to build exposure to uranium exploration and development activity across multiple projects, operators and jurisdictions through a capital-efficient royalty structure.

Fusion Fuel expects to highlight additional royalty assets within the portfolio in the coming weeks.

PLS Regional Royalty in the Athabasca Basin

The PLS Regional royalty covers 12,067 hectares of uranium exploration claims in Saskatchewan's Athabasca Basin, a region that hosts several of the highest-grade uranium deposits ever discovered.

The royalty claims are located along the same regional geological trend that hosts several of the basin's most significant uranium discoveries, including Triple R, Arrow, Bow and Spitfire.

Cameco Corporation operates the claims in a joint venture with Denison Mines Corp. Cameco also operates Cigar Lake, the world's highest-grade uranium producing mine, and McArthur River, one of the world's largest high-grade uranium deposits, both located in the Athabasca Basin.1

Under the royalty structure, exploration and development activity funded by the operator may advance the underlying project while the royalty holder participates in potential project success without bearing exploration or development capital costs.

Royalty Model Provides Capital-Efficient Exposure

Mining royalty structures allow investors to participate in potential mineral discoveries and future mine production without funding exploration, development or mining operations.

This model provides exposure to project advancement and uranium price cycles while limiting the operational and capital cost risks typically associated with mining projects.

Global Uranium Demand Strengthening

Fusion Fuel's planned acquisition of Royal Uranium aligns with strengthening global uranium demand fundamentals for nuclear energy and uranium supply.

Several structural trends are contributing to renewed interest in nuclear power:

The U.S. Prohibiting Russian Uranium Imports Act (2024) has accelerated Western demand for non-Russian uranium supply

Technology companies including Microsoft, Google and Amazon have entered agreements supporting nuclear energy to power rapidly expanding artificial intelligence infrastructure

The proposed U.S. Stargate Project, a potential $500 billion AI infrastructure initiative, is expected to drive sustained demand for baseload electricity

At COP28, 24 countries pledged to work toward tripling global nuclear capacity by 2050

 

Global uranium demand is projected to increase 118% between 2025 and 2040, while supply is expected to grow only 14%, implying a potential structural deficit of approximately 197 million pounds by 2040.2

"The Athabasca Basin is one of the most important uranium exploration districts in the world, and Cameco is one of the industry's most experienced operators, which positions this royalty as a meaningful asset within the Royal Uranium portfolio," said JP Backwell, CEO of Fusion Fuel.

"As nuclear power demand accelerates globally, driven by energy security priorities and rapidly expanding electricity demand from artificial intelligence infrastructure, we believe royalties on tier-one uranium jurisdictions provide a compelling way to participate in long-term uranium supply growth while maintaining a capital-efficient structure."

Royal Uranium Portfolio

The PLS Regional royalty is one of 16 uranium royalty interests anticipated to be acquired as part of the Royal Uranium transaction with assets located across the Athabasca Basin, Newfoundland, Colombia, and Argentina.

Operators across the broader portfolio include Cameco Corporation, Orano Canada, Uranium Energy Corp., and IsoEnergy Ltd., among others.

Fusion Fuel expects to highlight additional individual royalty assets within the portfolio in upcoming announcements, providing further detail on royalty assets, operators, and project exposures.

Background on Royal Uranium Transaction

On February 18, 2026, Fusion Fuel announced that it had entered into a definitive share exchange agreement ("Share Exchange Agreement") to acquire a controlling interest in Royal Uranium, a private royalty company holding a diversified portfolio of royalties across the Americas.

The proposed transaction is intended to provide Fusion Fuel with exposure to energy commodity royalties from certain assets, particularly uranium and natural gas deposits, through a capital-efficient royalty portfolio.

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