Refocus on Core Plastic-to-Hydrogen and GCC Growth

Hydrogen Utopia International PLC ("HUI" or the "Company"), a company pioneering technology to convert non-recyclable waste plastics into hydrogen and other clean energy, is delighted to advise shareholders that it is receiving significant interest in the TRL9 InEnTec plasma gasification technology, for which HUI holds a binding exclusive right to negotiate licence contracts across the MENA ( Middle East and Africa) region, with a primary focus on the GCC (Gulf Cooperation Council) countries.

The Company is in substantive engagement with multiple government entities and leading corporations in the Kingdom of Saudi Arabia, Oman, the United Arab Emirates, and has also received a formal Request for Investment Proposition from a Qatari company for a plasma destruction system. These discussions include potential joint ventures and special purpose vehicles (SPVs) with co-investment opportunities, positioning HUI to become a key player in the expanding hydrogen and waste-to-energy markets across the GCC, with clear potential to access wider regional and international markets.

The expansion into the GCC targets not only the hydrogen economy but also opens doors to other regional and international markets, driven by the massive growth of the steel and cement industries, which outgrow the European market, and strong growth across the GCC, reflecting increased industrial activity and investment in clean technologies. Additionally, HUI, through InEnTec's TRL9 Technology, is evaluating the integration of Direct Reduced Iron (DRI) applications and hydrogen for Enhanced Oil Recovery (EOR) into its portfolio, further enhancing its position in industrial decarbonisation and energy solutions.

Following a period of strategic diversification, brought about by a severe downturn in the European hydrogen market and the underperformance of the EU-led initiative, the Company is returning to its roots, refocusing on its core mission of converting plastic waste into hydrogen in a new, high-potential territory, in anticipation and hope that Europe will catch up on its strong hydrogen ambitions. This renewed direction comes at a time when the hydrogen economy is regaining global momentum, where governments are prioritising clean technologies and circular economy solutions once again.

Mindful that the proposed acquisition of a significant holding in Ohrid Organics Ltd could present a direct conflict with potential business in jurisdictions where medicinal cannabis is illegal, the HUI Board and Ohrid Organics Ltd have mutually agreed not to proceed with the previously announced transaction. The Board believes that the strategic upside in the GCC significantly outweighs the Ohrid Organics option.

This decision allows HUI to focus its resources and leadership on capitalising on the expanding hydrogen opportunity in the MENA region, accelerating commercialisation of the InEnTec technology, and building strong government and industrial partnerships across the Middle East, with the broader aim of accessing regional and international markets, supported by robust GDP growth in the GCC.

Aleksandra Binkowska, Chief Executive Officer of HUI, commented: "The hydrogen market has faced challenges and fluctuations, and the adoption of heavy-duty hydrogen-powered vehicles has been slower than anticipated, as major automobile companies are still weighing their options. In contrast, large-scale decarbonisation of industries such as steel and cement presents a tangible opportunity, as the building sector is robust and nearly impossible to halt, with substantial hydrogen demand driven by the rapid industrial growth in the GCC countries. We can see a major opportunity in taking this step."