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")
Proposed Acquisition of
Helmond Holding Group Corp.
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 that the company
to be acquired by reverse takeover is Helmond Holding Group Corp.,
a company incorporated in the British Virgin Islands (company
registration number 1887785) ("HHG"). HHG is a substantial and
profitable international bio-energy company. The Directors expect that the development of HUI's waste
plastic to hydrogen technology combined with HHG's established
biofuels production business will lead to the re-admitted company
becoming a dominant player not only in the biofuels but also in the
hydrogen market.
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.