Hydrogen Utopia dabbles in medical cannabis while seeking to build the world’s first plastic waste-to-hydrogen plant.
The new year is “starting well” for Hydrogen Utopia International PLC (LSE:HUI, OTCQB:HUIPF), according to Progressive Equity Research, after it sealed a deal to buy a stake in a Macedonian cannabis producer and confirmed plans to build a plastic recycling plant in Ireland.
The waste-plastic-to-hydrogen company said yesterday that it has exercised its option to acquire a 49% stake in Ohrid Organics.
Anticipated cash flows from the North Macedonian medical cannabis producer are expected to provide the funding for the plastic recycling company to develop its pioneering waste-plastic-to-hydrogen projects.
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Hydrogen Utopia said in a statement that its initial focus will be on progressing a proposed hydrogen from waste plant in County Longford in Ireland.
It is developing a portfolio of prospective plants across Europe, but said it will not be pursuing projects in Greater Poland at present due to local political resistance.
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Hydrogen Utopia dabbles in medical cannabis while seeking to build the world’s first plastic waste-to-hydrogen plant. source
