REG - Hydrogen Utopia Intl - Harold Tillman Options to the Value of £1m at 15p

Hydrogen Utopia InternationalAnnouncement

03/04/2023 07:00

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RNS Number : 0278V  Hydrogen Utopia International PLC  03 April 2023

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 3 April 2023

 

Hydrogen Utopia International PLC

 (the "Company" or "HUI")

 

Harold Tillman CBE Options to the Value of £1m at 15p

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 the
appointment of Harold Tillman CBE , one of the most senior and respected
figures in the UK and global fashion industry as Ethical Consultant to the
Company. The appointment follows the announcement of a strategic partnership
with Ethical Fashion Group Limited ("EFG"), co-founded by Harold Tillman CBE,
 on 20 February 2023 with the intention of creating a ground-breaking
'Fashion Pollution Solution' to clothing manufacturers and suppliers.

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
year. The majority of clothing is now made using refinery-derived products
including polyester, polyamides or a combination of the two.

HUI is pioneering an environmentally sustainable technology which could
accelerate the development of a circular economy from discarded plastic
containing clothes.

Harold Tillman CBE recognises that HUI could provide solutions to help clean
up the fashion industry. His role as Ethical Consultant will be to assist HUI
in identifying, exploring and developing potential business opportunities with
and/or secure direct and indirect investment from his substantial network of
contacts in both the fashion industry worldwide and the clothing recycling
industry. HUI's business activities focus on addressing plastic pollution and
the creation of carbon-free fuels which make HUI an ideal partner for the
fashion and clothing recycling industry. Harold Tillman CBE's appointment as
Ethical Consultant to HUI will further cement the strategic partnership
between EFG and HUI and enable it to be more effective.

As part payment for his consultancy services, HUI has agreed to grant Harold
Tillman CBE options over up to 6,666,666 HUI ordinary shares at an exercise
price of 15p per share exercisable over different periods of time in the 4
years following his appointment.

Aleksandra Binkowska, CEO of HUI, commented:

"It is a great honour to have Harold Tillman CBE supporting HUI in its
ambitious world-changing goals to build the first plastic hydrogen facility in
the world. Harold Tillman CBE is not only a fashion icon with magnificent
accomplishments and world-class connections in the industry but also an
international advocate for sustainable fashion. In an effort to make a real
difference,  Harold Tillman CBE recently launched a scholarship fund at the
London School of Fashion where he studied in the 60's and is currently their
business and enterprise advisor. He is a leader and a pathfinder, which
reminds me of a quote from  Nobel prize winner Naguib Mahfouz: 'Today, the
greatness of a civilized leader ought to be measured by the universality of
his vision and his sense of responsibility towards all '."

Harold Tillman CBE commented:

"New technology and ways of working have transformed the industry I have been
part of for over half a century. The environmental impact of the clothing we
buy, wear and dispose of is by far the greatest challenge the sector has faced
in my lifetime. I am excited about the opportunity to work with HUI because I
believe it can and will play an important part in addressing this challenge."

For more information about the Company, please refer to our website:
www.hydrogenutopia.eu (http://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 7309 2203

 
 
 

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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