Hydrogen Utopia Intl - Agreement
RNS Number : 8858X
Hydrogen Utopia International PLC
10 January 2022
 

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10 January 2022

Hydrogen Utopia International PLC

 (the 'Company' or 'HUI')

 

Agreement in principle with Regional Municipal Waste Management operator in the City of Ostrów Wielkopolski, Greater Poland to develop a waste to hydrogen system

 

Hydrogen Utopia International PLC (AQSE:HUI), a company pioneering non-recyclable waste plastics to hydrogen technology, is delighted to announce that its wholly owned Polish subsidiary, Hydropolis United sp z.o.o., has signed a letter of intent ("LOI") with RZZO sp z.o.o. ("RZZO"), the regional municipal waste management company operating in Ostrów Wielkopolski, Greater Poland. RZZO works closely with the local government and the LOI was signed in the presence of and with the full support of the Mayor of Ostrów Wielkopolski, Beata Klimek, and the Deputy Mayor, Mikołaj Kostka.

 

RZZO has a long-term contract for the management of municipal waste with the city of Ostrów Wielkopolski, Greater Poland and it has built a number of modern waste management facilities in the region. Under the LOI, RZZO has agreed, subject to final contract, that it will provide a plot of land at one of its facilities with the necessary utilities to operate a HUI waste plastic to hydrogen plant, incorporating Powerhouse Energy's DMG® technology, it will provide assistance with the permitting of the site, it will source and provide the waste plastic feedstock necessary to operate the system and it will assist in procuring funding for the plant from EU, national or local grants and/or private funding. RZZO has also offered its full assistance in finding off-take partners for the hydrogen and energy produced by the plant. It is intended that the heat energy produced by a plant would be fed into a district heating system

 

Aleksandra Binkowska, CEO of HUI, commented:

 

"RZZO's ambition as a company, working closely with the city of Ostrów Wielkopolski's local government, clearly demonstrates that together they have an ambition to be ahead of the game. Their entrepreneurial spirit and forward-thinking is tangible. The drive to implement future technologies in the region is electrifying. My experience with RZZO and the City Officials has been highly positive, and I am sure that they will each do everything to help roll out a HUI plastic waste to hydrogen system in the region"
 

Marzena Wodzińska, President of RZZO, commented:

 

" We believe that only future technologies can provide Ostrów Wielkopolski the prosperity and standing it deserves. We pride ourselves on delivering our customers with the best we possibly can and I believe that an HUI waste plastic to hydrogen plant has the potential to solve the global plastic problem and provide us with the valuable energy that we need." 

 

 

For more information, please refer to the Company's 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)

Jon Isaacs                                                                                             +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, such as but not limited to the EU's "Just Transition Fund" which was set up to help fossil fuel dependent communities transition towards climate neutrality. 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.

 

HUI's initial strategic focus is to work closely with Powerhouse Energy Group plc to create a project pipeline of HUI facilities. HUI will concentrate its marketing and promotion of HUI facilities on the European Continent in order to unlock significant value for current and future HUI shareholders. HUI also intends to explore opportunities across several industry verticals and, in due course, other non-European jurisdictions (excluding the UK). 

 

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.

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