Hydrogen Utopia International CEO Takes Personal Loan to Avoid Dilutive Equity Funding
Key Ideas
  • CEO of Hydrogen Utopia International, Aleksandra Binkowska, secures personal loan to support company's working capital needs.
  • The loan facility of up to £3 million aims to prevent discounted dilutive equity fundraising, with the first tranche being £500,000.
  • Binkowska pledges 50,000,000 shares to secure the loan, emphasizing her commitment to the company's long-term success and financial stability.
  • Funds will be used to advance the development of the first plastic-to-hydrogen facility and secure a 49% stake in Ohrid Organics for future revenue assistance.
Hydrogen Utopia International PLC's chief executive, Aleksandra Binkowska, has taken a significant step to support the company's financial needs by initiating a personal loan facility. The company, known for its specialization in converting non-recyclable waste plastic into hydrogen or distributed heat, disclosed the drawdown of the initial tranche amounting to £500,000 from a non-recourse personal loan facility that extends up to £3 million. Binkowska's decision to utilize this personal funding is aimed at avoiding discounted dilutive equity fundraising, ultimately ensuring the company's financial stability. To secure the loan, she has pledged 50,000,000 ordinary shares, representing a notable portion of her shareholding. The loan, with a five-year term but a provision for early repayment after two years, has been structured to safeguard against the potential market leakage of her shares. The company's board has reviewed and approved this strategic move. Binkowska emphasized her deep belief in the profitability and necessity of the technology HUI offers, highlighting her commitment to its success. The secured funds will enable HUI to progress in establishing the first plastic-to-hydrogen facility, a significant step towards its sustainability goals. Additionally, the acquisition of a 49% stake in Ohrid Organics is set to contribute to future revenue generation for the company.
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