Hydrogen Utopia International’s Initial Public Offering on the AQSE growth market
We are delighted to announce that Hydrogen Utopia International PLC (HUI), a company pioneering non-recyclable waste plastics to hydrogen technology, is listing on the AQSE Growth Market (AQSE) on the 6 January 2022, under the ticker “HUI”.
The Company’s primary goal and ambition is to build the first waste plastic to hydrogen system on the European Continent incorporating Powerhouse Energy Group plc’s (AIM: PHE) DMGⓇ technology and to create a substantial project pipeline worldwide. Initially HUI acquired the exclusive rights to market Powerhouse’s DMGⓇ technology in Hungary, Poland and Greece and has non-exclusive rights for the rest of the world. HUI has forged strong alliances with leading players in their fields such as Linde (the leading global industrial gases group), Sweco (one of Europe’s leading engineering, environmental technology and architecture consultancies) and Electron Thermal Processing (a Dutch specialist heat treatment system provider) in order to ensure a successful rollout of its systems.
Plastic pollution is one of the most pressing environmental issues of the 21st Century - rapidly increasing production of disposable plastic products is overwhelming the world’s ability to deal with them. Currently 368 million tonnes of plastic is produced each year, a fraction of which is recycled or disposed of responsibly, with production expected to double by 2030 and quintuple by 2050. HUI’s systems will solve the dual issue of dispensing with non-recyclable and end-of-life plastics and aiding decarbonisation through providing hydrogen and other energy sources not dependent upon the use of coal, natural gas, oil and fossil fuel derived electricity
HUI is targeting areas where there is a 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 available, such as the EU’s ‘Just Transition Fund” which was set up to help fossil fuel dependent communities transition towards climate neutrality.
HUI’s flagship project is set to be in Konin, Poland. Following the signing of an agreement between HUI and the City of Konin in February 2021, prestigious engineering firm Sweco has been instrumental in identifying a suitable plot for the proposed HUI plant, close to the city's existing waste remediation facilities. It is anticipated that up to ten HUI plants will be built in Konin in due course. An Environmental Impact Assessment application has been submitted - put together by Sweco engineers in conjunction with HUI - and it is anticipated that approval should be granted within the next 9-12 months.
In addition, HUI has signed Letters of Intent with the city of Simitli, in Bulgaria, the city of Florina, in Greece, and strong opportunities have been identified in Hungary and the Netherlands. As soon as the first HUI plant is operational, and the waste plastics-to-hydrogen vision becomes a reality, HUI anticipates momentum will gather to add numerous other locations.
HUI’s waste plastic to hydrogen process, incorporating DMG® technology, is an efficient and environmentally friendly technology that converts end of life plastics into a source of energy. An advanced thermal chemical recycling process takes unrecyclable plastics and converts them into syngas (a mixture of methane, hydrogen and carbon monoxide) through a robust, scientifically well-established technology. The system deals with all types of waste plastic, which requires no cleaning but simply need to be shredded.
The HUI units will typically see an output of up to 2.7 tonnes of pure road fuel quality hydrogen from 40 tonnes of plastic feedstock. The model has the capacity to be rolled out across the globe and is adaptable in line with site specifics and characteristics - for example the electrified thermo chemical conversion chamber could be supplied from local renewable sources, rendering the production step of valuable syngas with zero or low carbon emissions. The systems can be constructed on as little as 1.5 hectares and can be bolted on to existing waste remediation facilities with ease.
Guy Peters, Executive Chairman of HUI, commented:
"Today’s listing is an important milestone in HUI’s development. We are pioneering the use of technology to turn non-recyclable waste plastics into hydrogen - addressing the major environmental threat posed by waste plastic and providing alternative energy sources which are not dependent upon the use of coal, natural gas, oil and fossil fuel derived electricity.”
“I would like to thank our new and existing shareholders for their support and I look forward to providing updates on our progress as our business develops.”
Aleksandra Binkowska, CEO of HUI, commented:
“Having started the Company 15 months ago, I feel incredibly privileged to be where we are now. HUI's mission from the very beginning was to free our society from plastic waste in an ecologically friendly and economical manner. In a very limited time, we have established our presence across the European continent and we have created strong alliances, including those with Linde and Sweco, two of the most prominent companies in the sector.”
“Europe is in desperate need of this technology and it is our duty to be pathfinders in bringing the mission to realisation. I want to thank all of the shareholders who have supported us and our vision from the very beginning since our initial seed funding.”
For more information, please refer to the Company's AQSE Admission Document which is available here.
For further information please contact:
Hydrogen Utopia International PLC
Guy Peters/Aleksandra Binkowska
+44 20 3811 8770
HUI press enquiries: Kate Templeman
00447312530958 (pr@hydrogenutopia.eu)
About Linde
Linde is one of the world’s largest industrial gases and engineering companies, with sales of $27 billion in 2020 and a market capitalisation of some 178 billion USD. Linde is a global leader in the production, processing, storage and distribution of hydrogen and is at the forefront in the transition to clean hydrogen worldwide. In October 2021 at COP26, HUI signed a framework agreement with Linde Engineering for the supply of technology and equipment to a waste-to-hydrogen system in Europe. HUI will build a system where plastics are converted into syngas, from which valuable products such as chemical precursors, hydrogen, electricity and other industrial products will be derived. Linde Engineering will supply the technology to clean the syngas and also extract and process hydrogen.
About Sweco
Sweco is one of Europe’s leading architecture and engineering consultancies, listed on the Stockholm Exchange Market with a valuation of 61,34 billion SEK. In collaboration with HUI’s subsidiary, Hydropolis United sp. z o.o., it submitted an application for an Environmental Permit for a hydrogen plant in Konin, Poland. Sweco is a natural partner for HUI’s projects given its strong focus on mitigating the climate impact of the projects it is involved with. Sweco plans and designs sustainable cities, industries and community infrastructure with the prevention and management of climate change as a major consideration.
About Electron
Electron Thermal Processing B.V., part of the Glaesum Group, is dedicated to the thermal processing industry, and is in the design phase of a chemical conversion chamber which will comprise the heart of a HUI waste plastic to hydrogen system. Electron works for substantial clients such as General Electric, Royal Dutch Shell and Tata Steel.
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 and distributed sustainable 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 in transport and industry may pave the way for a rapid deployment of and investment in HUI facilities.