TIDMHUI
RNS Number : 8312E
Hydrogen Utopia International PLC
04 July 2023
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4 July 2023
Hydrogen Utopia International PLC
(the "Company" or " HUI")
Successful EU Grant Application
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 its Irish subsidiary, Alister Future
Technologies (AFT) Limited ("AFT"), has been notified that it has
been successful in its application for an EU grant as part of a
transnational European consortium established to foster the fight
against ocean borne plastic pollution in the Atlantic regions of
Europe. The grant is expected to reimburse AFT for 75% of
expenditure of up to EUR450,000 to be incurred by it in Ireland in
identifying a solution for creating value from such plastic waste
through processing it into syngas and hydrogen.
The consortium of which AFT is part brings together
organisations across the entire European Atlantic region and
comprises 7 partners from 4 countries: 3 universities, 1 public
regional body, 1 Not-for-profit private organization, and 2
specialized SMEs, of which AFT is one.
The grant will be provided as part of the Interreg Atlantic Area
2021-2027 European Development Fund, which covers the western part
of the Atlantic Ocean and includes all regions of Ireland and
Portugal, as well as several French and Spanish regions close to or
on the Atlantic Ocean . The Interreg Atlantic programme budget for
2021-2027, which was formally approved by the European Commission
on 8th September 2022, is EUR 113 million and provides funding for
up to 75% of investments through the European Regional Development
Fund (ERDF).
Aleksandra Binkowska, CEO of HUI, commented:
"I would like to thank our partner, Universitad de Cantabria
(Spain) for embracing our technology, including us in this
prestigious project and recognising the potential of turning
plastic into a clean source of energy - hydrogen. I believe that
the combined efforts of academics and entrepreneurs will lead to
the development of a HUI facility despite the challenging times we
are facing. It is encouraging to know that there is belief in what
we do. As an EU citizen I have always believed that HUI's plastic
to hydrogen technology will attract an EU grant. I believe in the
ability of the EU to build a better future. Our efforts are finally
being rewarded."
Guy Peters, Executive Chairman of HUI, commented:
"Our business strategy from the outset has been to seek third
party and EU or other governmental funding for the development of
HUI facilities. We are delighted to have been awarded this grant,
which I would hope will be the first of many to come."
"Equally gratifying for us is that this funding comes as part of
an EU funded project to address marine plastic pollution and the
blue and green environment move to a greener Europe and a circular
and resource efficient economy, all of which totally align with our
objectives."
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 (LSE 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.
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END
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