Druces advises on Hydrogen Utopia's growth

In a significant development, Druces LLP has advised Hydrogen Utopia International plc (HUI) on its first institutional investor placing, aiming to bolster the company's growth strategy in the Kingdom of Saudi Arabia and the broader Gulf Cooperation Council (GCC) region. The placing involved the issuance of 26,666,667 new ordinary shares at 2.25p each, accompanied by warrants on a one-for-two basis. This transaction not only welcomes a strategic institutional investor but also marks a pivotal milestone in HUI’s evolution, accelerating the deployment of its innovative waste-to-hydrogen technologies.

The funds raised through this placement are earmarked for expanding HUI’s presence in Saudi Arabia, where it holds a licence from the Ministry of Investment Saudi Arabia (MISA). HUI is also supported by the Saudi Investment Recycling Company (SIRC) and the Research, Development and Innovation Authority (RDIA). The company is further positioning itself to play a critical role in the global energy transition.

Christopher Axford, Partner and Head of Corporate at Druces, spearheaded the advisory process, supported by Jack Dervyn, Partner and Head of Capital Markets. On the achievement, Aleksandra Binkowska, CEO of Hydrogen Utopia International PLC, expressed her enthusiasm, stating "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."

Binkowska also emphasised the potential of the InEnTec technology, which HUI is leveraging to convert various waste streams into sustainable, low-carbon hydrogen, specifically highlighting its impact in Saudi Arabia. Binkowska continued, “I would also like to personally thank Christopher and his team for their exceptionally swift support on this matter."

Christopher Axford reflected on the partnership, stating, “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.” He added that this success enhances Druces' reputation as a firm notably experienced in working with specialist technology companies in the Middle East.

This transaction substantially bolsters Druces’ corporate and capital markets practice, particularly its involvement with Main Market quoted growth companies, clean technology, and clients operating throughout the Middle East. Hydrogen Utopia International PLC, targeting the conversion of non-recyclable mixed waste plastic into hydrogen and other low-carbon fuels, is set to become a leader in the European clean energy sector.

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