Hydrogen Utopia International PLC
(the "Company" or "HUI")
Ohrid Organics - Cannabis Supply Agreement
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, is pleased to note that Ohrid Organics Ltd ("Ohrid Organics") has just put out an announcement that a supply agreement with Canopy Growth Germany GmbH, a subsidiary of Canopy Growth Corporation, has been secured.
HUI has exercised its option to acquire 49 % of Ohrid Organics and the acquisition is proceeding.
The full announcement made by Ohrid Organics is available on Ohrid Organics' website and can be accessed through this link:
Aleksandra Binkowska, CEO of HUI, commented: "I am delighted with Ohrid Organic's exceptional relationship. The partnership with Canopy Growth far exceeds my expectations. To have an association with possibly the best-known cannabis company in the world is spectacular. I strongly believe that medicinal cannabis could help millions of patients with cancer, epilepsy, depression, insomnia and many other ailments, all over the world."
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 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.
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