Laytons ETL advises renewable energy specialist on London Stock Exchange debut
Main market listing for Hydrogen Utopia International PLC comes less than 12 months after admission to AQSE growth market
09 January 2023: Laytons ETL, the City of London-based law firm, has advised Hydrogen Utopia International PLC (HUI) on its admission to the standard segment of the main market of the London Stock Exchange. The renewable energy specialist listed on the LSE on 09 January 2023 with an anticipated market capitalisation of approximately £62.8 million. HUI’s main market debut comes 12 months after it listed on the “Access” segment of the Aquis Stock Exchange (AQSE), a stock market for growth companies, in January of this year. Laytons ETL also advised the company on that earlier transaction.
HUI specialises in turning non-recyclable mixed waste plastic into low-carbon fuels, with a strong focus on hydrogen and synthetic gas. Its corporate headquarters are in London, with subsidiaries on the European continent, and an ambition to expand and deliver projects globally in future.
The legal team at Laytons ETL that advised HUI on the listing included corporate partners Cameron Sunter, Liza Zucconi and Dimitri Iesini, and trainee Lauren McCulloch.
Other advisers who worked on the listing included corporate adviser Alfred Henry Corporate Finance and reporting accountant Gerald Edelman. Like Laytons ETL, Gerald Edelman is part of the ETL Global network of professional services firms, which employs 20,000 people in more than 50 countries.
Liza Zucconi, corporate partner at Laytons ETL, said, “It was a pleasure to work with Hydrogen Utopia International once again, together with Maya Wassink and Nick Michaels at Alfred Henry Corporate Finance and Carl Lundberg and William Abell at Gerald Edelman. It speaks volumes about HUI’s progress that it has been able to achieve a standard listing on the main market of the London Stock Exchange just 12 months after it was first admitted to Access segment of AQSE.
“Moving up to the main market is an important milestone for the company, offering increased liquidity and potentially opening it up to a wider range of institutional investors. This listing is also a great advertisement for the growth markets, and shows that AQSE can be the first step on a rapid escalator to the senior stock markets.”
Carl Lundberg, Partner at Gerald Edelman, said, “I am delighted that HUI has achieved its admission to listing on the main market of the London Stock Exchange. This is an important move for the company, increasing both its profile and access to capital.
“It was a pleasure to advise the team at HUI on this transaction and to work with talented fellow professionals, including the team at Alfred Henry Corporate Finance and our colleagues at Laytons ETL.”
Aleksandra Binkowska is the founder and CEO of Hydrogen Utopia International PLC. She said, “It was an absolute delight to work with Laytons ETL once again. It is not an easy achievement under current market circumstances, but with the right people we have successfully achieved our main market listing.
“I would like to thank Laytons ETL and my Board for their relentless work to make this happen. HUI is growing into an international Company, being listed now in three countries and developing a technology that will change how we perceive plastic waste. It doesn’t have to be an enemy: it is fuel for our industries and our transport.
“To quote Benjamin Franklin: ‘Without continual growth and progress, such words as improvement, achievement, and success have no meaning.’ Thank you Laytons ETL for helping HUI to grow, and we look forward to further cooperation in future.”