RCS - Hydrogen Utopia Intl - 2024 starting well

Hydrogen Utopia InternationalAnnouncement

03/01/2024 07:30

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RNS Number : 4981Y  Hydrogen Utopia International PLC  03 January 2024

 

3 January 2024

Hydrogen Utopia International PLC

 (the 'Company' or 'HUI')

 

2024 starting well

Hydrogen Utopia International PLC, a company specialising in converting
non-recyclable mixed waste plastic into hydrogen and other carbon-free fuels,
new materials or distributed renewable heat, is pleased to inform shareholders
that HUI has exercised its option to acquire 49% of Ohrid Organics, a company
which it is anticipated will generate substantial future cashflows for its
shareholders and which HUI would utilise in developing its pipeline of waste
plastic to hydrogen plants.

The report by Progressive Equity Research Limited was paid by the Company and
can be accessed in this link:
https://progressive-research.com/research/2024-starting-well/

For further information, please contact:

Hydrogen Utopia International PLC

Aleksandra Binkowska

+44 20 3811 8770

 

Alfred Henry Corporate Finance Limited (LSE Corporate Adviser)

Nick Michaels/Maya Klein
Wassink

+44 20 3772 0021

 
 
 

Novum Securities Limited (Broker)
 

Jon Belliss/Colin
Rowbury

+44 20 7399 9400

 

About Hydrogen Utopia International PLC

 

HUI aims to become one of the leading new European companies specialising in
converting non-recyclable mixed waste plastic into carbon-free fuels, new
materials or distributed renewable heat.

 

A HUI facility uses non-recyclable mixed waste plastic as feedstock and turns
it into syngas from which new products and energy can be produced. HUI
anticipates that its revenues will be derived from a variety of sources,
dependent upon location and configuration of the HUI facilities, including the
sale of syngas, hydrogen and other gases, electricity and heat sales, and the
payment to it of fees for a given quantity of non-recyclable mixed waste
plastic received at a HUI facility.

 

HUI will target areas where there is significant private sector interest or
potential, financial backing is accessible and or where substantial EU and/or
government funded sources of grants and loans are or may be available. The
global increase in fossil fuel-based energy prices reinforces the need for
alternative, price competitive energy sources, which HUI's business model can
provide.

 

The pressing need to deal with growing amounts of waste plastic combined with
a real momentum in the use of hydrogen from renewable sources may pave the way
for a rapid deployment of and investment in HUI facilities.

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