TIDMHUI
RNS Number : 6573S
Hydrogen Utopia International PLC
13 March 2023
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.
13 March 2023
Hydrogen Utopia International PLC
(the "Company" or " HUI")
Option to lease completed for Longford, Ireland site
Hydrogen Utopia International PLC, a company specialising in
turning non-recyclable mixed waste plastic into hydrogen and other
carbon-free fuels, new materials or distributed renewable heat , is
pleased to announce that it has now agreed and entered into an
option to lease a 2.5 acre greenfield site in the 78-acre
Fisherstown Energy Park at Fisherstown in County Longford, Ireland
(the " Option" and the " Site " respectively), as anticipated in
its announcement of 29 November 2022. This is expected to lead to
HUI's first operational full scale waste plastic to hydrogen
facility in the Europe an Union .
Longford is a county in the Irish Midlands and is anticipated to
be one of the prime beneficiaries of the EU Just Transition Fund in
Ireland. Irish Government approval for Ireland's Territorial Just
Transition Plan and its associated programme for the period to
2027, which will provide EUR 169 million of funding in the Irish
Midlands, was given on 29 November 2022 and the plan was adopted by
the European Commission on 15 December 2022.
Fisherstown Energy Park has its own electrical grid connection,
an electrical substation and the potential for HUI to utilise the
existing waste water treatment facilities on site, which previously
serviced a very large denim manufacturing business. The costs of
installing such facilities are generally very substantial,
therefore the availability of existing facilities should produce
significant construction cost savings in building a plant. Planning
permission has been granted to build a solar farm on the site,
which could potentially provide power for an HUI facility and in
February 2023 Longford County Council also approved plans for the
construction of a stationary battery energy storage facility on the
site . Fisherstown Energy Park has good road access and is within
easy reach of the M4 and M6 motorways, which provide access to
Dublin and Galway.
Under the Option, HUI's wholly owned Irish subsidiary has been
granted an option for a period of up to three years to acquire a 25
year lease of the Site. HUI has paid an option premium to the
freeholder for the first 12 months of the Option, with the Option
providing for further quarterly payments thereafter for the
duration of the Option period.
Having agreed and entered into the Option and agreed the draft
lease of the Site and any necessary ancillary documentation, HUI
will now commence planning, environmental and operational
permitting applications for the Site, working with its professional
advisers in Ireland.
Guy Peters, Executive Chairman of HUI, commented:
"I am delighted that we have now finalised the real estate
arrangements for the Longford site. We are now working hard to move
the planning and permitting of the site forward as rapidly as
possible. As we have said before, we believe that Ireland is a very
attractive EU country in which to pioneer our first European waste
plastic to hydrogen plant. "
Aleksandra Binkowska, CEO of HUI, commented:
"Poland looked up to Ireland for decades as both of our
countries were compared due to many cultural and economic
similarities. Donald Tusk - the ex-President of the European
Council and ex- Polish Prime Minister quoted James Joyce "history
is a nightmare from which I am trying to awake". When you are Irish
or Polish, it is not so easy to awake yourself from a nightmare.
"Historical bad fortune, difficult neighbours, internal divisions -
all of this has meant that, through the years, we have tasted
victory so rarely, while so often swallowing the bitterness of
defeat." - he added. But now Ireland is a country of great
prosperity, hosting some of the biggest corporations in the world.
I am delighted to work with our partners in Longford as our goals
for this site are very ambitious. I hope that Longford will be the
start of a pioneering technology in Ireland. "
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
+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
hydrogen and other 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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
STRBLGDXXXBDGXB
(END) Dow Jones Newswires
March 13, 2023 03:00 ET (07:00 GMT)
Hydrogen Utopia (LSE:HUI)
Gráfica de Acción Histórica
De Nov 2024 a Dic 2024
Hydrogen Utopia (LSE:HUI)
Gráfica de Acción Histórica
De Dic 2023 a Dic 2024
