Essential Energy Holding takeover withdrawn, UK.

Hydrogen Utopia International (HUI) has withdrawn its proposed £500 million acquisition of Essential Energy Holding's entire issued share capital. The decision was mutually agreed upon by both parties due to commercial reasons. HUI had initially made the proposal in February 2024, but new financial information received in May 2024 could have affected Essential Energy's value. Essential Energy owns operational plants across Europe and has permits for a waste plastic-to-hydrogen facility, which would have been made available to HUI post-acquisition. HUI has also confirmed its acquisition of 49% of Ohrid Organics, a North Macedonian medical cannabis company. [Extracted from the article]