TIDMHUI
RNS Number : 0278V
Hydrogen Utopia International PLC
03 April 2023
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3 April 2023
Hydrogen Utopia International PLC
(the "Company" or " HUI")
Harold Tillman CBE Options to the Value of GBP1m at 15p
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 the appointment of Harold Tillman CBE , one of
the most senior and respected figures in the UK and global fashion
industry as Ethical Consultant to the Company . The appointment
follows the announcement of a strategic partnership with Ethical
Fashion Group Limited (" EFG "), co-founded by Harold Tillman CBE,
on 20 February 2023 with the intention of creating a
ground-breaking 'Fashion Pollution Solution' to clothing
manufacturers and suppliers.
The clothing industry is the biggest pollutant in the world
after the oil and gas sector, producing an estimated 92 million
tonnes of textile waste every year. The majority of clothing is now
made using refinery-derived products including polyester,
polyamides or a combination of the two.
HUI is pioneering an environmentally sustainable technology
which could accelerate the development of a circular economy from
discarded plastic containing clothes.
Harold Tillman CBE recognise s that HUI could provide solutions
to help clean up the fashion industry. His role as Ethical
Consultant will be to assist HUI in identifying, exploring and
developing potential business opportunities with and/or secure
direct and indirect investment from his substantial network of
contacts in both the fashion industry worldwide and the clothing
recycling industry. HUI's business activities focus on addressing
plastic pollution and the creation of carbon-free fuels which make
HUI an ideal partner for the fashion and clothing recycling
industry. Harold Tillman CBE's appointment as Ethical Consultant to
HUI will further cement the strategic partnership between EFG and
HUI and enable it to be more effective.
As part payment for his consultancy services, HUI has agreed to
grant Harold Tillman CBE options over up to 6,666,666 HUI ordinary
shares at an exercise price of 15p per share exercisable over
different periods of time in the 4 years following his
appointment.
Aleksandra Binkowska, CEO of HUI, commented:
" It is a great honour to have Harold Tillman CBE supporting HUI
in its ambitious world-changing goals to build the first plastic
hydrogen facility in the world. Harold Tillman CBE is not only a
fashion icon with magnificent accomplishments and world-class
connections in the industry but also an international advocate for
sustainable fashion. In an effort to make a real difference, Harold
Tillman CBE recently launched a scholarship fund at the London
School of Fashion where he studied in the 60's and is currently
their business and enterprise advisor. He is a leader and a
pathfinder, which reminds me of a quote from Nobel prize winner
Naguib Mahfouz: 'Today, the greatness of a civilized leader ought
to be measured by the universality of his vision and his sense of
responsibility towards all '."
Harold Tillman CBE commented:
"New technology and ways of working have transformed the
industry I have been part of for over half a century. The
environmental impact of the clothing we buy, wear and dispose of is
by far the greatest challenge the sector has faced in my lifetime.
I am excited about the opportunity to work with HUI because I
believe it can and will play an important part in addressing this
challenge."
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/Guy Peters
+44 20 3811 8770
Alfred Henry Corporate Finance Limited (AQSE Corporate
Adviser)
Nick Michaels
+44 20 7309 2203
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.
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