First Day of Dealings

RNS Number : 5084X

Hydrogen Utopia International PLC

06 January 2022

 

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6 January 2022

Hydrogen Utopia International PLC

 (the 'Company' or 'HUI')

Admission to Trading on AQSE

and

First Day of Dealings

Hydrogen Utopia International PLC, a company aiming to become one of the leading new European companies specialising in turning non-recyclable mixed waste plastic into carbon-free fuels (such as syngas, hydrogen and electricity), new materials or distributed renewable heat and a licensee of Powerhouse Energy Group plc, the developer of DMG® technology, is pleased to announce that trading in its Ordinary Shares will commence on the AQSE Growth Market (AQSE) at 08:00 today, 6 January 2022, under the ticker "HUI" and ISIN number GB00BMFR8J48.

The Company has been admitted to the Access segment of AQSE and the commencement of trading of the Company's Ordinary Shares follows a successful subscription and placing by Novum Securities Limited for a total of 40,000,000 Ordinary Shares at 7.5p per ordinary share, raising gross proceeds of £3,000,000 (before expenses) (the "Fundraising"). 

HUI's existing cash resources, together with the net proceeds of the Fundraising, will be used to fund the pre-build costs of a HUI facility, marketing and business development and working capital, including the remaining amount due to Powerhouse Energy Group Plc for HUI exclusivity in Poland, Greece and Hungary.

On Admission, the Company will have 384,320,000 Ordinary Shares in issue and the market capitalisation of the Company will be approximately 28,824,000.

Guy Peters, Executive Chairman of HUI, commented:  

"Today's listing is an important milestone in HUI's development. We are pioneering the use of technology to turn non-recyclable waste plastics into hydrogen - addressing the major environmental threat posed by waste plastic and providing alternative energy sources which are not dependent upon the use of coal, natural gas, oil and fossil fuel derived electricity."

"I would like to thank our new and existing shareholders for their support and I look forward to providing updates on our progress as our business develops."

Aleksandra Binkowska, CEO of HUI, commented:

" Having started the Company 15 months ago, I feel incredibly privileged to be where we are now. HUI's mission from the very beginning was to free our society from plastic waste in an ecologically friendly and economical manner. In a very limited time, we have established our presence across the European continent and we have created strong alliances, including those with Linde and Sweco, two of the most prominent companies in the sector."

"Europe is in desperate need of this technology and it is our duty to be pathfinders in bringing the mission to realisation. I want to thank all of the shareholders who have supported us and our vision from the very beginning since our initial seed funding."
 

For more information, please refer to the Company's AQSE Admission Document which is available on the Company's website: www.hydrogenutopia.eu

For further information please contact:

Hydrogen Utopia International PLC

Guy Peters/ Aleksandra Binkowska 

[phone] 

Alfred Henry Corporate Finance Limited (AQSE Corporate Adviser)

Jon Isaacs         

[phone]                                                           

Novum Securities Limited (Broker)                                                                   

Jon Belliss/Colin Rowbury     

[phone]   

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 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, such as but not limited to the EU's "Just Transition Fund" which was set up to help fossil fuel dependent communities transition towards climate neutrality. 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.

HUI's initial strategic focus is to work closely with Powerhouse Energy Group plc to create a project pipeline of HUI facilities. HUI will concentrate its marketing and promotion of HUI facilities on the European Continent in order to unlock significant value for current and future HUI shareholders. HUI also intends to explore opportunities across several industry verticals and, in due course, other non-European jurisdictions (excluding the UK). 

The pressing need to deal with growing amounts of waste plastic combined with a real momentum in the use of hydrogen from renewable sources may pave the way for a rapid deployment of and investment in HUI facilities.

 

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