HUI Hydrogen Utopia International Plc

TIDMHUI

RNS Number : 8407R

Hydrogen Utopia International PLC

31 October 2023

31 October 2023

Hydrogen Utopia International PLC

(the "Company" or " HUI")

Innovative Funding Model for Hydrogen Tech

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 the publication of a report by Progressive Equity Research Limited ("Progressive") providing a recap on HUI's technology and progress towards its first plant, details on its innovative funding model through Ohrid Organics Limited ("Ohrid Organics") and recent management changes.

The intended acquisition of a direct stake in Ohrid Organics, the UK holding company of a North Macedonian medicinal cannabis producer, provides HUI with a potential innovative source of financing without having to resort to a dilutive share issue. The initial indications are that Ohrid Organics has a high-quality product that is attracting significant interest. The cash flows from Ohrid Organics should facilitate the development and application of HUI's pioneering waste plastic to hydrogen technology.

This report is produced under an existing retained client relationship between the Company and Progressive, and can be accessed by following this link:

https://progressive-research.com/research/innovative-funding-model-for-hydrogen-tech/

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 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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(END) Dow Jones Newswires

October 31, 2023 03:44 ET (07:44 GMT)

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