28 January 2025
Hydrogen Utopia International
PLC
(the
"Company" or
"HUI")
Ohrid Organics DOO
Update
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 Ohrid Organics DOO has published an update on its
website. The update is reproduced verbatim below.
HUI has exercised its option to
acquire 49% of Ohrid Organics Ltd., the holding company of Ohrid
Organics DOO.
Ohrid Organics DOO moves into
profitability in January 2025
Ohrid Organics DOO has to date sold
and/or traded a total of €500k of product.
Ohrid Organics DOO is now back on
track after what effectively became a year of R&D to refine
genetics and growing methods. Under new management, the company has
established a fully functional commercial facility producing
high-quality, sun grown cannabis (supplemented by Fluence lighting)
achieving initially approximately 150 kg per crop. Current sales
range between €1,500-2,000/kg. The company anticipates higher
pricing in the region of €2,500-3,000/kg as soon as GMP is
obtained.
Five greenhouses are now in full
operation, with a sixth being prepared for future production.
Progress continues on the permitting and construction of an
expanded post-harvest facility. Ohrid Organics DOO is currently
seeking a £5 million fundraise to maintain momentum without
impacting 2025 cash flow.
Howard White, Executive Director of HUI and shareholder and
director of Ohrid Organics Ltd, commented: "With the addition of a new
trading contract, Ohrid Organics DOO is seeing a notable boost in
profits, enabling the company to repay its obligations to HUI. In
the near term, it is projected that improved harvest yields will
drive revenues up by one-third."
For more information about the
Company, please refer to our website: www.hydrogenutopia.eu
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 (0) 20 8064 4056
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.
