Potential Acquisition by Reverse Takeover

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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UK 100

Latest directors dealings