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Hydrogen Utopia: With plan A scrapped when’s the placing?

By Tom Winnifrith | Wednesday 21 August 2024


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


The annual report of Hydrogen Utopia (HUI) is explicit. The Company’s waste to hydrogen projects will need to secure fresh funds as a “bridge” to profitability. The numbers are explicit. As at 31 December 2023 cash was £1.29 million but net current assets were just £1.067million. And the business burned £1.27 million at an operational level. With no sign of meaningful revenues in sight you can do the maths. But it had two cunning plans. Baldrick would have been doubly impressed.
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