RCS - Hydrogen Utopia Intl - Ohrid Organics DOO Update

Hydrogen Utopia InternationalAnnouncement

28/01/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250128:nRSb8629Ua&default-theme=true

RNS Number : 8629U  Hydrogen Utopia International PLC  28 January 2025

 

 

 28 January 2025

 

Hydrogen Utopia International PLC

 (the "Company" or "HUI")

 

Ohrid Organics DOO Update

 

Hydrogen Utopia International PLC, a company specialising in turning
non-recyclable mixed waste plastic into hydrogen and other carbon-free fuels,
new materials or distributed renewable heat, is pleased to announce that Ohrid
Organics DOO has published an update on its website. The update is reproduced
verbatim below.

HUI has exercised its option to acquire 49% of Ohrid Organics Ltd., the
holding company of Ohrid Organics DOO.

 

Ohrid Organics DOO moves into profitability in January 2025

Ohrid Organics DOO has to date sold and/or traded a total of €500k of
product.

Ohrid Organics DOO is now back on track after what effectively became a year
of R&D to refine genetics and growing methods. Under new management, the
company has established a fully functional commercial facility producing
high-quality, sun grown cannabis (supplemented by Fluence lighting) achieving
initially approximately 150 kg per crop. Current sales range between
€1,500-2,000/kg. The company anticipates higher pricing in the region of
€2,500-3,000/kg as soon as GMP is obtained.

Five greenhouses are now in full operation, with a sixth being prepared for
future production. Progress continues on the permitting and construction of an
expanded post-harvest facility. Ohrid Organics DOO is currently seeking a £5
million fundraise to maintain momentum without impacting 2025 cash flow.

 

Howard White, Executive Director of HUI and shareholder and director of Ohrid
Organics Ltd, commented: "With the addition of a new trading contract, Ohrid
Organics DOO is seeing a notable boost in profits, enabling the company to
repay its obligations to HUI. In the near term, it is projected that improved
harvest yields will drive revenues up by one-third."

For more information about the Company, please refer to our website:
www.hydrogenutopia.eu (http://www.hydrogenutopia.eu)

For further information please contact:

 

Hydrogen Utopia International PLC

Aleksandra Binkowska

+44 20 3811 8770

 

Alfred Henry Corporate Finance Limited (AQSE Corporate Adviser)

Nick Michaels/Maya Klein
Wassink

+44 (0) 20 8064 4056

 
 
 

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
turning non-recyclable mixed waste plastic into hydrogen and other 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.

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRABDLLLEFLFBBD