REG - Hydrogen Utopia Intl - Potential Acquisition by Reverse Takeover

Hydrogen Utopia InternationalAnnouncement

26/02/2024 09:00

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RNS Number : 4401E  Hydrogen Utopia International PLC  26 February 2024

The information contained within this announcement is deemed by the Company to
constitute inside information stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of UK domestic law by virtue of
the European Union (Withdrawal) Act 2018.  Upon the publication of this
announcement via the Regulatory Information Service, this inside information
is now considered to be in the public domain.

 

 

Hydrogen Utopia International PLC

 (the "Company" or "HUI")

 

Potential Acquisition by Reverse Takeover

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, confirms that it has signed heads
of terms regarding the potential acquisition, by way of a reverse take-over,
of a substantial and profitable international bio-energy company involved in
the production and business of biofuels and its bi-products, with revenue in
excess of EUR 365m and profits before taxes in excess of EUR 40m according to
the latest unaudited consolidated accounts to 31 December 2022.

There can be no certainty that an acquisition will be completed. The company
will provide further updates as appropriate.

The Directors accept responsibility for this announcement.

 

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 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 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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