Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber

You are using software which is blocking our advertisements (adblocker).

As we provide the news for free, we are relying on revenues from our banners. So please disable your adblocker and reload the page to continue using this site.
Thanks!

Click here for a guide on disabling your adblocker.

Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber

Hydrogen Utopia acquires 49% stake in Ohrid Organics

Hydrogen Utopia International has exercised its option to acquire a 49% stake in North Macedonia-based Ohrid Organics, marking a significant expansion into the cannabis production sector.

This acquisition is expected to bolster Hydrogen Utopia's working capital in aid of the development of its first waste-plastic-to-hydrogen facility.

Ohrid Organics' King Fild production facilities are aiming for 4.5 tonnes of dry flower per year and an expected target sales price of €2 million per tonne, providing a significant dividend distribution to Hydrogen Utopia.

King Fild's first commercial medicinal cannabis harvests are anticipated in early February, while finished goods available for sale at a rate of €240,000 to €400,000 every three weeks are expected to commence in March.

King Fild has a licence for up to 37 greenhouses which, if reached, could produce between 37 and 50 tonnes per year.

Read more at proactiveinvestors.co.uk

Publication date: