Hydrogen Utopia International PLC (LSE:HUI, OTCQB:HUIPF) said the Ohrid Organics business via its subsidiary, King Fild, has made its first medicinal cannabis harvest from a facility in Northern Macedonia.
In all, the plants weighed in at 200kg, with 50kg used to test King Fild's drying technology. A second crop is expected to be 250kg.
In the update, HUI said a purchase order has been placed by a UK distributor for 10kg at €2.50 per gram, with the potential to move to 50kg per month.
"I am delighted with Ohrid Organics' first harvest, the interest received to date for the medicinal cannabis flowers and King Fild's first purchase order with a UK distributor," said Aleksandra Binkowska, Hydrogen Utopia's CEO.
"Ohrid's business plan anticipates building strong relationships with different distributors in various jurisdictions. Ohrid's success will contribute to the rollout of the first waste plastic to hydrogen facility which has always been and remains my sole focus."
The relationship with King Fild was cemented when HUI exercised an option to acquire 49% of Ohrid in late December.