RE: RNS - MENA licences -Binding Outline Agreement25 Jul 2025 10:53
Placing RNS:
"The proceeds are intended to be used towards PROGRESSING the proposed access to 10 exclusive licences for InEnTec's advanced TRL9 (Technology Readiness Level 9) waste-to-hydrogen technology across the Middle East and North Africa region." Nothing about buying licenses Penstock. And I would assume part of it has paid for multiple trips to MENA to speak with people as large deals only get done in person, not via Teams. And following on from the RNS mission statement, the EU is on the back burner (but still open) however the main thrust of HUI is towards HUI, so this is not quite as misleading as you profess - however agree not 100% clear but then it's hard to be clear regarding unknown future actions.
What is clear is that this exclusivity was worth paying for, and has position HUI as the exclusive MENA providor or InEnTech units - and MENA (more ME maybe) has much more spare capital to employ in getting this up and running - and as it is more autocratic there is less bureaucracy and opposition for these plans they will be enacted far more quickly than any comparable project in the UK and EU.
Tiny note: the loans are personal loans from AB and HW, and total $100,000 (~£75k), not £100,000 if we are being pedantic... which we are as always.