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On 29 January 2024, Hydrogen Utopia International PLC (HUI) announced its awareness of a recent increase in its share price. HUI believes this is due to recent press coverage in City AM and the Daily Mail, which highlighted HUI's impending acquisition of Ohrid Organics Ltd. It is expected that this acquisition will fund HUI's pipeline waste plastic to hydrogen projects without the need for further fundraising.
| Date | 29 Jan 2024 |
| Time | 11:30:29 |
| Category | Miscellaneous |
| ID | 2369B |
29 January 2024
Hydrogen Utopia International PLC
(the "Company" or "HUI")
Share Price Increase
HUI is aware of the recent increase in its share price and believes this to be the result of recent press coverage in City AM and the Daily Mail on Saturday. The articles highlight HUI's impending acquisition of Ohrid Organics Ltd. It is expected that the acquisition will fund HUI's pipeline waste plastic to hydrogen projects without the need for any further fundraising.
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 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.