Discussions update in Japan

RNS Number : 9043B

Hydrogen Utopia International PLC

16 February 2022

 

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16 February 2022

Hydrogen Utopia International PLC

 (the 'Company' or 'HUI')

Discussions update in Japan

Hydrogen Utopia International PLC (AQSE:HUI), a company pioneering non-recyclable waste plastics to hydrogen technology, announces that following recent discussions between HUI and Mitsubishi Heavy Industries, Ltd ("MHI")  it has been mutually acknowledged that no agreement exists on exploring  any  potential commercial opportunities for developing waste plastic to hydrogen facilities in Japan with MHI .

HUI continues to explore opportunities in Japan and is hopeful that it may work with MHI in the future.

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 

[phone] 

Alfred Henry Corporate Finance Limited (AQSE Corporate Adviser)

Jon Isaacs         

[phone]

Novum Securities Limited (Broker)                                                                   

Jon Belliss/Colin Rowbury     

[phone]   

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.

HUI's initial strategic focus is to work closely with Powerhouse Energy Group plc to create a project pipeline of HUI facilities.

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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