Project Finance, Management and Development for Sustainability, Medical and Green Energy firm Human Unitec International (OTCMKTS:HMNU) on 13th July announced signing of an agreement by its subsidiary firm Sedda Green Energy, SRL with Tuninetti Trade for its Green Energy plant in Porto Torres, Italy.
This will enable Tuninetti Trade to give 600 tons per month of recycling of plastic waste. Sedda Green Energy said that each ton of clean plastic will be able to generate 600 liters of eco diesel and also garner revenues of $2 million annually. The agreement will also provide Euro 700,000 in grants to the company for its plants in Porto, Italy.
Having completed the required permits, Sedda Green Energy is starting operations in the region and both the firms have understood a model to lower cost of construction of 20 ton plans by 43%.
The firm hopes that the technology will enable it to have a standing in the global market with significant increase on returns. Furthermore, it is hoping that the new technology will augment plant productivity by 17%.
Human Unitec International is listed on the US OTC Market. The strategic agreement between the two firms will also help them achieve a sustainable future.
Market Reaction:
As of 11:34, HMNU stock plunged 30% at $0.0336 with more than 28.17 million shares, compared to its average volume of 5.06 million shares. The stock had moved within a range of $0.0299 – 0.0550 after opening the trade at $0.0425. Over the past 52-week, the stock has been trading within a range of $0.0056 – 0.0550.
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