REG - Hydrogen Utopia Intl - HUI signs MOU with waste co-ordinator in KSA

Hydrogen Utopia InternationalAnnouncement

23/04/2026 07:00

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RNS Number : 5669B  Hydrogen Utopia International PLC  23 April 2026

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23 April 2026

Hydrogen Utopia International PLC

 

 (the "Company" or "HUI")

 

HUI signs MOU with waste co-ordinator in KSA

 

Hydrogen Utopia International PLC (LSE: HUI), a pioneering company
transforming non-recyclable waste plastic into hydrogen, clean fuels and
advanced materials, and which holds exclusive rights to the InEnTec PEM melter
system in the MENA region, is pleased to announce that its wholly owned
subsidiary, Hydrogen Utopia International KSA LLC ("HUI KSA"), has signed a
non-binding Memorandum of Understanding ("MoU") with RECYCLEE (commercial
registration number 1009118138), a Saudi Arabia-based company operating a
technology-enabled waste management and recycling platform, to establish a
long-term strategic collaboration for the supply of waste feedstock in the
Kingdom.

 

Under the terms of the MoU, RECYCLEE will take out and aggregate unrecyclable
plastics and end-of-life tyres from across its operational network in Saudi
Arabia, creating a structured and reliable feedstock stream for conversion
into clean energy and low-carbon fuels. The parties intend that RECYCLEE will
supply, and HUI KSA will offtake, up to 200,000 tonnes per annum of qualifying
waste material for use at a planned waste-to-energy and Sustainable Aviation
Fuel ("SAF") production facility in Jubail Industrial City, utilising InEnTec
technology.

 

The MOU establishes a framework for negotiations toward a definitive long-term
feedstock supply agreement. The intended project is designed to convert
hard-to-recycle waste streams into hydrogen and SAF, supporting the
development of a domestic circular fuel ecosystem within the Kingdom of Saudi
Arabia.

 

This initiative aligns with the Kingdom's clear strategic ambition to
significantly improve national waste management outcomes, reduce landfill
dependency, and enhance the environmental integrity of its rapidly expanding
industrial base. Saudi Arabia's increasing focus on cleaning and modernising
its waste infrastructure provides a strong structural backdrop for the
deployment of advanced conversion technologies capable of transforming
residual waste into strategic energy products.

 

The MoU reflects the parties' shared intention to support Saudi Arabia's wider
industrial diversification and environmental objectives by enabling the
conversion of unrecyclable waste into valuable fuels while strengthening
domestic circular economy infrastructure. Feedstock specifications, pricing
mechanisms and detailed commercial terms remain subject to further negotiation
and due diligence, and no binding supply or offtake obligations arise from the
MoU at this stage.

 

The parties will now progress technical, commercial and regulatory workstreams
with a view to finalising a definitive agreement. The MoU remains non-binding
in nature, with the exception of customary confidentiality provisions, and
either party may withdraw from discussions in accordance with its terms. There
can be no guarantee that definitive binding agreements will be entered into by
the parties.

Eng. Rakan AlRogi, CEO of RECYCLEE, commented: "This MoU reflects RECYCLEE's
essential role in building the foundational infrastructure of digitally
managed waste. By aggregating sorted hard-to-recycle materials across the
Kingdom, we are enabling a more effective circular economy.

This collaboration is a vital step toward establishing a consistent and
reliable feedstock stream that supports Saudi Arabia's broader vision for
sustainability, resource efficiency, and industrial innovation. We look
forward to working with HUI KSA to support the development of a robust
circular fuel ecosystem."

Aleksandra Binkowska, Chief Executive Officer of HUI, commented: "Today's
announcement represents a highly strategic step forward for HUI and for our
wholly owned Saudi subsidiary, HUI KSA. Securing access to a scalable and
reliable stream of unrecyclable waste feedstock is fundamental to the
successful deployment of our technology and the delivery of commercially
viable projects in the region. Our collaboration with RECYCLEE demonstrates
the strength of our model,  combining advanced conversion technology with
established local infrastructure to unlock value from materials that would
otherwise go to landfill. Saudi Arabia is moving decisively to modernise its
waste and energy systems, and we believe HUI, through HUI KSA, is
well-positioned to play a meaningful role in that transformation.

This MoU lays the groundwork for what we expect to become a long-term,
mutually beneficial partnership, supporting the production of hydrogen and
Sustainable Aviation Fuel while contributing to the Kingdom's circular economy
ambitions. We look forward to progressing discussions and advancing this
opportunity toward a definitive agreement.

We would also like to thank all the parties in Saudi Arabia who have supported
us in reaching this important milestone."

 

Hydrogen Utopia International PLC

Aleksandra Binkowska                  

+44 7795 235181

 

Alfred Henry Corporate Finance Limited (LSE Corporate Adviser)

Nick Michaels/Maya Klein
Wassink                                                                         

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About Hydrogen Utopia International PLC 

 

HUI aims to become one of the leading new companies specialising in converting
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 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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