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.
