Hydrogen Utopia International looking to extend runway without diluting shareholders
London, UK
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July 11, 2023 08:53 AM Eastern Daylight Time
Hydrogen Utopia International PLC (LSE:HUI, OTCQB:HUIPF) CEO Aleksandra Binkowska speaks to Proactive's Thomas Warner about the work she's been doing recently to try and produce what she calls a "potentially infinite [cash] runway" for the main-market listed waste-to-hydrogen business. Binkowska first addresses news that HUI has taken out an option over a 49% stake in Carbon Capture and Sequestration (CCS), which has just agreed to acquire 95% of a medical cannabis cultivator in North Macedonia. She explains that the move is part of a strategy to acquire revenue-generative businesses in order to extend HUI's cash runway without diluting shareholders She also explains that HUI's Irish subsidiary Alister Future Technologies (AFT) is to receive an EU grant as part of a transnational consortium fighting plastic pollution in the Atlantic regions of Europe. AFT is set to receive reimbursement for 75% of expenditure in Ireland of up to €450,000 for technology that turns plastic waste into syngas and hydrogen. Europe’s Interreg Atlantic Area 2021-2027 European Development Fund will provide the money. Binkowska also talks about her recent trip to Estonia to discuss HUI's technology with relevant officials and expand its project pipeline.
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