REG - Hydrogen Utopia Intl - Adverse Media Content

Hydrogen Utopia InternationalAnnouncement

17/08/2023 10:00

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RNS Number : 6412J  Hydrogen Utopia International PLC  17 August 2023

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 17 August 2023

Hydrogen Utopia International PLC

 (the "Company" or "HUI")

 

Adverse Media Content

 

HUI has become aware of adverse media content that has been published about
the Company including, allegations that the Company urgently needs a fundraise
to avoid its cash reserves running low.

HUI takes such adverse media content allegations seriously.

The Board is satisfied that the Company has enough cash reserves for at least
the next 12 months.

 

For further information ,please contact:

 

Hydrogen Utopia International PLC

Aleksandra Binkowska/Guy Peters

+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
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.

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