Hydrogen Utopia International PLC (HUI) is a company pioneering non-recyclable waste plastics-to-hydrogen technology.
The company recently announced a testing programme for the conversion of waste plastic to hydrogen, and followed that up with the news earlier this week that its Chemical Conversion Chamber has completed the first design phase of converting that waste plastic into synthesis gas.
Completion of the basic design of the Chemical Conversion Chamber by Electron and its sub-contractor Vicoma is regarded as a key step forward; after a full design review, the design and manufacture of a total system is then in sight, the company says.
With that wind in its sails, HUI has also now announced its HoTs with Powerhouse Energy for the joint development of a site at Lanespark in Co. Tipperary in Ireland. HUI and PHE have agreed, subject to obtaining an acceptable title to the proposed site and relevant project documentation being completed, to establish a joint venture vehicle owned equally by each company, with development costs being contributed to on a 50:50 basis.
Under the HoTs, PHE has agreed to pay HUI a non-returnable payment of £400,000 in cash and advance to HUI a loan of £600,000, in recognition of HUI’s contribution to the Lanespark Project through its technological approach to the waste plastics-to-hydrogen process, identifying the site and its potential and its negotiation of a deal with the current site owners.
It is anticipated that the Lanespark Project will not only bring a site that can benefit from either local, national or EU grant funding or a combination of them, but which will also offer significant potential for local feedstock supply and offtake agreements with potential Tier 1 customers.
Guy Peters, Executive Chairman of HUI, commented, “This deal offers us the opportunity to jointly pioneer a European waste plastic-to-hydrogen plant in an area that offers plentiful feedstock supply and offtake potential in an attractive jurisdiction.
“Utilising the technological expertise and skills of both companies’ teams and our wider network of suppliers and experts should enable us to deliver a plant that will act as a circular economy showcase to the world.”