19 March 2024
Hydrogen Utopia International
PLC
(the 'Company' or
'HUI')
Longford Project joint venture
re-energised
Hydrogen Utopia International PLC, a
company specialising in converting non-recyclable mixed waste
plastic into hydrogen and other carbon-free fuels, new materials or
distributed renewable heat, is pleased to inform shareholders
that HUI has re-agreed terms for a 50/50 joint venture with
Powerhouse Energy Group (PHE) for the development of a waste
plastics to hydrogen plant at a facility in County Longford in the
Republic of Ireland. Separately, HUI has recently
provided updates on initial sales at Ohrid Organics and an exciting
potential acquisition of a bio-fuels business.
The report by Progressive Equity Research Limited was
paid by the Company and can be accessed in this link:
https://progressive-research.com/wp-content/uploads/data-sync/research/HUI%2020240318.pdf
For further information, please
contact:
Hydrogen Utopia
International PLC
Aleksandra
Binkowska
+44 20 3811
8770
Alfred Henry
Corporate Finance Limited (LSE 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 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.
The pressing need to deal with growing amounts
of waste plastic combined with a real momentum in the use of
hydrogen from renewable sources may pave the way for a rapid
deployment of and investment in HUI facilities.