The information contained within this announcement
is deemed by the Company to
constitute inside information stipulated under the
Market Abuse Regulation (EU) No. 596/2014 as it forms part
of UK domestic law by virtue of the European
Union (Withdrawal) Act 2018. Upon the publication of
this announcement via
the Regulatory Information Service,
this inside information is now considered to be in
the public domain.
18 June 2024
Hydrogen Utopia International
PLC
(the
"Company" or
"HUI")
JTF Grant
Award
Hydrogen Utopia International PLC, a
company specialising in turning non-recyclable mixed waste plastic
into hydrogen and other carbon-free fuels, new materials or
distributed renewable heat, is pleased to announce that
its wholly owned subsidiary, Alister Future
Technologies (AFT) Ltd is anticipated being awarded a
grant of up to EUR 300,000 under the EU Just Transition Fund EU
Community and Enterprise Grants Scheme ("Grant"), which is
co-funded by the Government of Ireland and the European Union. The
purpose of the Grant is to fund the pilot phase of a waste plastic
to hydrogen facility ("HUI Facility"). The pilot HUI Facility
will operate on a smaller scale to enable the technology to be
tested and demonstrated; a pre-requisite for the development of a
full scale HUI Facility at Longford, County Longford in the
Republic of Ireland. The Grant is subject to certain conditions to
be met by certain deadlines.
The EU Just Transition Fund (EU JTF)
is a €169 million investment programme, co-funded by the European
Union and the Government of Ireland. It supports communities across
Europe who have been the most negatively affected by the transition
to climate neutrality by addressing employment, economic, social
and environmental issues to ensure the transition is fair and just,
and nobody is left behind. Aligning with the National Climate
Action Plan in Ireland, the EU JTF is focused on the wider Midlands
region which has been impacted by the move away from peat
production and electricity generation from peat.
Aleksandra Binkowska, CEO of
HUI, commented: "I am delighted to see the
European Union recognise the potential of our waste plastic to
hydrogen technology. Years of hard work are paying off, and my
vision of the European Union backing the development of our
technology is one step closer to reality - their support for our
project is a significant milestone."
For more information about the
Company, please refer to our website: www.hydrogenutopia.eu
For further information please
contact:
Hydrogen Utopia International
PLC
Aleksandra
Binkowska
+44 20 3811
8770
Alfred Henry Corporate Finance
Limited (AQSE Corporate Adviser)
Nick Michaels/Maya Klein
Wassink
+44 20 3772
0021
Novum Securities Limited
(Broker)
Jon Belliss/Colin
Rowbury
+44 20 7399 9400
About Hydrogen Utopia International
PLC
HUI aims to become one of the leading
new European companies specialising in turning non-recyclable mixed
waste plastic into hydrogen and other
carbon-free fuels, new materials or distributed
renewable heat.
A HUI facility uses non-recyclable
mixed waste plastic as feedstock and turns it into syngas from
which new products and energy can be produced. HUI anticipates that
its revenues will be derived from a variety of sources, dependent
upon location and configuration of the HUI facilities, including
the sale of syngas, hydrogen and other gases, electricity and heat
sales, and the payment to it of fees for a given quantity of
non-recyclable mixed waste plastic received at a HUI
facility.
HUI will target areas where there is
significant private sector interest or potential, financial backing
is accessible and or where substantial EU and/or government funded
sources of grants and loans are or may be available. The global
increase in fossil fuel-based energy prices reinforces the need for
alternative, price competitive energy sources, which
HUI's business model
can provide.