TIDMHUI
RNS Number : 3587Q
Hydrogen Utopia International PLC
20 February 2023
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20 February 2023
Hydrogen Utopia International PLC
(the "Company" or " HUI")
Announcement of partnership with Harold Tillman CBE
Hydrogen Utopia International PLC, an LSE-listed company
specialising in turning non-recyclable mixed waste plastic into
hydrogen and other carbon-free fuels, announces it is entering into
a strategic partnership with Ethical Fashion Group (EFG),
co-founded by British fashion industry veteran Harold Tillman CBE,
to provide a ground-breaking Fashion Pollution Solution to clothing
manufacturers and suppliers.
The partnership will allow clothing manufacturers, suppliers and
retailers to address the devastating environmental impact of
products made partly or wholly from non-recyclable plastics
including polyester and polyamides.
The Ethical Fashion Group matches 60,000 fashion businesses in
140 countries with sustainable suppliers around the world. It joins
Electron Thermal Processing and the leading global industrial gases
and engineering company Linde plc as strategic partners of Hydrogen
Utopia International.
The clothing industry is the biggest pollutant in the world
after the oil and gas sector, producing an estimated 92 million
tonnes of textile waste every day. The majority of clothing is now
made using refinery-derived products including polyester,
polyamides or a combination of the two.
Aleksandra Binkowska, founder and chief executive of Hydrogen
Utopia International PLC, said: "It is a huge honour to win the
support of Mr Harold Tillman for the work being carried out by HUI.
Consumers are dressing themselves in plastic, often without knowing
it, by buying over one trillion items of clothing a year that are
destined to end up in incinerators or landfill sites. Our Fashion
Pollution Solution will give manufacturers access for the first
time to technology that turns these items into road-fuel quality
hydrogen fuel that will power the next generation of carbon-free
vehicles. As Seneca said "Luck happens when preparation meets
opportunity" and this is why I believe Mr Tillman and HUI are a
perfect match".
Harold Tillman CBE is one of the most instantly recognisable and
experienced figures in the British fashion world. He is a former
head of iconic British fashion brands Jaeger and Aquascutum and the
only person to have served two consecutive terms as Chairman of the
British Fashion Council. He was appointed CBE in 2010 for his
services to the fashion industry.
Harold Tillman CBE said: "The technology developed by Hydrogen
Utopia means that, for the first time ever, the fashion industry
can be part of the solution to the epidemic of plastic pollution
facing the planet, rather than part of the problem.
After a lifetime in the fashion industry, I am passionate about
the urgent need for clothing manufacturers, suppliers and retailers
to address the environmental damage they cause, and to embrace
ethical and sustainable production.
The Ethical Fashion Group helps them do this and this strategic
partnership with HUI has the potential to transform the global
clothing industry by tackling our addiction to plastic
products."
Ends
For further information please contact:
Hydrogen Utopia International PLC
Aleksandra Binkowska
+44 20 3811 8770
Alfred Henry Corporate Finance Limited (AQSE Corporate
Adviser)
Nick Michaels
+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 8nticipates 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.
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