Under a signed Memorandum of Understanding (MoU), Romgos Grupa has agreed to provide PLN 3m ($692,680) through contributing an appropriate property interest upon which a HUI facility will be constructed.
Additionally, Romgos Grupa will provide cash investment funding to cover costs for environmental consents and permits as well as construction permits.
The Polish company has also agreed to manage the process of obtaining grant funding to establish a subsidiary company to construct HUI facilities. H2 View understands obtaining any funding for the subsidiary will be on a 50:50 basis between the two companies.
While looking to develop HUI facilities the companies will also look to identify potential feedstock suppliers and customers for hydrogen, syngas, heat, and other outputs from the production processes.
Mishel Gwiazdowski, President of Romgos Grupa, commented, “We deeply believe in the hydrogen future, and we are very excited to start our cooperation with Hydrogen Utopia in deploying their innovative plastic waste-to-hydrogen technology.”
Earlier this month (January 9), HUI announced its ordinary shares had begun trading on the London Stock Exchange (LSE).
Read more: Hydrogen Utopia begins trading on London Stock Exchange
“It is my greatest privilege to start our journey with Romgos Grupa,” said Aleksandra Binkowska, CEO of HUI. “The story of their business is impressive and their faith in new technologies such as HUI’s is exceptionally heart-warming.”
Binkowska added, “In 10 years they have created a business hiring over 700 people and building pipelines for big players in the Polish market.”
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