Hydrogen Utopia Syngas Initiative

RNS Number : 6635F

Hydrogen Utopia International PLC

23 March 2022

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

23 March 2022

Hydrogen Utopia International PLC

 (the 'Company' or 'HUI')

Hydrogen Utopia Syngas Initiative

Hydrogen Utopia International (HUI), a company pioneering non-recyclable waste plastics to hydrogen technology, is providing this market update as to the implications it anticipates for its business as a consequence of the current invasion of Ukraine by Russia.

As a consequence of the war in Ukraine, current sanctions against Russia, and an increasing reluctance to place any significant dependence upon Russian gas and oil supplies, Western and Central European countries are moving to seek alternative sources of energy and energy supply.

HUI's waste plastic to energy plants will produce syngas that could be used as a fuel in its own right, as a gas engine fuel to produce electrical power or to produce methane or hydrogen. Heat produced as a by-product of the process can be sold and fed into district heating systems, for example, which in Eastern Europe are used extensively.

HUI believes that building new HUI waste plastic to energy plants could be significant in allowing local communities across Europe to ameliorate the effects of the resultant gas and energy supply crisis and the anticipated market changes brought about by ongoing sanctions against Russia and the reluctance to rely upon it as an energy supplier in the future.

HUI plants were always anticipated to have the flexibility to switch between different outputs and their modularity and flexibility should enable HUI to build bespoke units to satisfy local demand.

Even if there were regime change, the Board of HUI believes that it is unlikely that Russia would be invited back to the fold in terms of energy production any time soon. Consequently the adaptability of its plants would not only provide a positive contribution to the present gas price and supply crisis, but it would also extract value for HUI shareholders from the technology being employed in this proactive way.

Aleksandra Binkowska, CEO of HUI, commented:

" This tragic war is a cold shower and a lesson to Continental Europe, nevertheless I am confident that it will provoke the creation of a New World Order. In that order, independence will be crucial and I am proud that HUI's technology has the potential to help European cities and businesses to become and remain self-reliant. I hope that European Governments and Investors will understand that our technology is an important piece of the puzzle in creating their new energy strategies for many years to come."

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.

 

END

 

 

NRASEUFWEEESEFD