Druces LLP has advised Hydrogen Utopia International plc (HUI), the Main Market quoted clean technology company, on its first institutional investor placing to support the Company’s growth strategy in the Kingdom of Saudi Arabia and the wider GCC region.
The placing comprised the issue of 26,666,667 new ordinary shares at 2.25p per share, together with warrants issued on a one-for-two basis. The transaction introduces a strategic institutional investor and represents a key milestone in HUI’s evolution as it accelerates the commercial deployment of its advanced waste-to-hydrogen technologies.
Proceeds from the placing will be used to support expansion in Saudi Arabia, where HUI holds a Ministry of Investment Saudi Arabia (MISA) licence and benefits from support from Saudi Investment Recycling Company (SIRC) and the Research, Development and Innovation Authority (RDIA), as well as to advance its role in the global energy transition.
The Druces team was led by Christopher Axford, Partner and Head of Corporate, with Jack Dervyn, Partner, Head of Capital Markets, providing key support.
Aleksandra Binkowska, CEO of Hydrogen Utopia International PLC, commented:
“This represents a transformative milestone for HUI. We are delighted to welcome a strategic institutional investor whose confidence in our vision will support accelerated scaling across key hydrogen markets.
This partnership underscores the significant potential of the InEnTec technology, with which we are partnering, to convert mixed plastic waste, hazardous, medical, and other non-recyclable waste streams into sustainable, low-carbon hydrogen. The collaboration is particularly impactful in the GCC, and especially within the Kingdom of Saudi Arabia.
I would also like to personally thank Christopher and his team for their exceptionally swift support on this matter”
Christopher Axford, Partner, Head of Corporate & Commercial, Druces LLP, commented:
“We were delighted to assist Hydrogen Utopia International plc on their first institutional placing with a strategic investor, allowing accelerated growth of their business in the Kingdom of Saudi Arabia and the wider GCC region. This enhances our reputation in acting for specialist technology companies, particularly those with projects in the Middle East. We were pleased to be chosen for this project, demonstrating our expertise in both this sector and region, and aligning our strengths with those of the company.”
The transaction further strengthens Druces’ corporate and capital markets practice, particularly its work with Main Market quoted growth companies, clean technology businesses and clients operating across the Middle East.
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.
