Hydrogen Utopia Medicinal Cannabis Option to Cure Plastic Pollution

Hydrogen Utopia tries Medicinal Cannabis Option in Curative Funding Scheme

In a bold, savvy new move to expedite the company’s development, 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, announces that the Company has signed conditional heads of terms (“HoTs”) to acquire a substantial minority stake in Carbon Capture and Sequestration Limited (“CCS”), a company which it is anticipated will generate substantial future cashflows for its shareholders and which HUI would utilise in developing its pipeline of waste plastic to hydrogen plants.

HUI has been actively evaluating opportunities to realise its mission to develop pioneering non-recyclable plastic to hydrogen technology with the aim of rolling out plants in Europe and beyond. The cashflows anticipated to be generated by CCS and which would flow to HUI following acquisition, based upon CCS projections, would provide HUI with a stream of positive working capital to fund its operations and the roll-out of projects.

This initiative is anticipated to bring HUI closer to realising its vision of ridding the planet of plastics pollution whilst generating hydrogen, a zero emission source of energy.

On 31 May 2023, CCS agreed to acquire 95% of a company, licensed and operating as a medical cannabis cultivator incorporated in and with operations in North Macedonia (“Medical Cannabis Cultivator”).

The Medical Cannabis Cultivator has the opportunity to acquire land adjacent to the Medical Cannabis Cultivator which could be used to site an HUI plant from which the Medical Cannabis Cultivator could become an offtaker for electricity. There is also the possibility that an HUI plant could process cannabis residue biomass.

Aleksandra Binkowska, Chief Executive Officer of HUI, commented:

“We are operating in difficult times that only the strongest will survive. I believe this option to acquire a major stake in the CCS business will give us access to much needed cashflow. Thanks to our Director, Mr. Howard White, and his belief in our technology, this deal should help HUI move forward with our goal of building the first plastic to hydrogen facility.”