An announcement from Hydrogen Utopia International PLC ( (GB:HUI) ) is now available.
Hydrogen Utopia International PLC has exercised its option to acquire a 49% stake in Ohrid Organics Ltd, marking a strategic move to enhance its market positioning. Ohrid Organics DOO, under new management, has achieved profitability with €500k in sales after refining its cannabis production methods. The company operates five greenhouses with a sixth in development and is seeking a £5 million fundraise to support its growth. The improved operational efficiency and new trading contract are expected to significantly boost profits and enable debt repayment to HUI.
More about Hydrogen Utopia International PLC
Hydrogen Utopia International PLC (HUI) specializes in converting non-recyclable mixed waste plastic into hydrogen and other carbon-free fuels, new materials, or distributed renewable heat. The company aims to be a leading provider in this sector by leveraging syngas production from waste plastics, with revenue streams from the sale of gases and energy, and fees for waste processing. HUI focuses on areas with private sector interest and accessible financial backing, and it benefits from the rising demand for alternative energy sources due to increasing fossil fuel prices.
YTD Price Performance: -13.04%
Average Trading Volume: 122,941
Technical Sentiment Consensus Rating: Buy
Learn more about HUI stock on TipRanks’ Stock Analysis page.
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