REG - Hydrogen Utopia Intl - Proposed Access to InEnTec Technology in MENA

Hydrogen Utopia InternationalAnnouncement

06/06/2025 07:00

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RNS Number : 7084L  Hydrogen Utopia International PLC  06 June 2025

The information contained within this announcement is deemed by the
Company to constitute inside information stipulated under the Market
Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018.  Upon the
publication of this announcement via the Regulatory Information Service,
this inside information is now considered to be in the public domain. 
  

06 June 2025

Hydrogen Utopia International PLC

 (the "Company" or "HUI")

 

Proposed Access to InEnTec Plasma Technology in  MENA

 

 

Hydrogen Utopia International PLC (HUI), 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 it
has signed  heads of terms with InEnTec Inc. ("InEnTec"), relating to a
proposed access  to 10 exclusive licences for InEnTec's advanced TRL9
(Technology Readiness Level 9) waste-to-hydrogen technology ("InEnTec
Technology") across the Middle East and North Africa ("MENA") region.

Subject to conditions to be fulfilled within 120 days and the achievement of
certain milestones, the parties will enter into a binding agreement.

Revenue Model

It is envisaged that Hydrogen Utopia International (HUI) will not be
contributing direct capital investment toward the deployment of the InEnTec
Technology. Instead, each of the ten licences will be secured through an
upfront payment from the project counterparties. The anticipated capital
expenditure for each facility is estimated between $ 50 million and $ 100
million, subject to project specifications and technical configurations. Each
system is expected to reach commercial operation within a projected timeframe
of fewer than 24 months. HUI intends to maintain a minority equity position in
each Special Purpose Vehicle (SPV) established for the projects and to receive
an ongoing management fee for strategic oversight and operational support.
Based on current modelling and site-specific economics, targeted Internal
Rates of Return (IRR) are forecasted to be in the high teens in respect of
each SPV.

It is anticipated that the exclusive licences will allow HUI to partner with
steel and cement companies in the MENA region and enable the construction of
facilities by reputable EPC (Engineering, Procurement and Construction)
companies. Such companies are able to give a WRAP (a guarantee that the
facility will work within agreed parameters), which could facilitate access to
funding for projects.

InEnTec Technology

InEnTec's Plasma Enhanced Melter (PEM) system has been operating successfully
for over 13 years at full commercial scale. It can process a wide range of
complex waste streams, including mixed plastics, tyres, and hazardous waste,
to produce clean hydrogen and capture carbon dioxide. It was originally
designed as a hazardous waste facility but is now repurposed as a hydrogen
production system. This presents a highly effective and sustainable solution
for industrial decarbonisation and waste reduction.

MENA Region

The first phase of deployment will target the Kingdom of Saudi Arabia ("Saudi
Arabia") and the United Arab Emirates ("UAE"), where there is a growing demand
for low-carbon construction materials, specifically steel and concrete, as
well as carbon capture and utilisation solutions (CCUS) in the oil and gas
industry, particularly for Enhanced Oil Recovery (EOR). The InEnTec
Technology, when deployed with Gas Water Shift (GWS), doubles the hydrogen
output and produces significant quantities of high-grade CO2 for EOR.

The UAE and Saudi Arabia are both advancing ambitious low-carbon initiatives,
with a strong emphasis on low-carbon hydrogen as key component of their
long-term energy transition plans. The UAE, under its National Hydrogen
Strategy, has set a target to produce 1.4 million tons of low-emission
hydrogen per year by 2031 and to scale up output to 15 million tons annually
by 2050. Saudi Arabia's National Hydrogen Strategy aspires to position Saudi
Arabia as a global leader in the low-carbon hydrogen economy. The strategy
outlines an ambitious vision to produce 1.2 million tons of low-carbon
hydrogen by 2030, while aiming to supply 10% of the world's hydrogen demand.

Additionally, Saudi Arabia and the UAE are implementing bold strategies to
drastically reduce landfilling by promoting recycling, composting, and
waste-to-energy technologies. Saudi Arabia has set a target to divert 90% of
its waste from landfills by 2040.

InEnTec Technology and HUI Technology

HUI and InEnTec pursue complementary strategies.

While the InEnTec Technology targets large-scale industrial deployments, HUI
remains committed to developing its own, smaller-scale, distributed hydrogen
production for transport and municipal use. Together, these solutions address
a broad spectrum of market needs across both developed and emerging economies.

HUI has, during the past 4 years, cultivated strong partnerships in the MENA
region, where regulatory pathways are typically more streamlined and funding
for TRL9-ready technologies is more accessible. The InEnTec Technology is
anticipated to underpin several opportunities HUI is pursuing in the MENA
region. It is expected that these opportunities will play a key role in
advancing HUI's vision for a cleaner, decentralised hydrogen economy.

The European Market

The Board believes that the proposed access to InEnTec licences in the MENA
region will provide an accelerated pathway to establishing facilities using
InEnTec Technology in other key global markets.

Once proven in the MENA region, we are hoping to address the European market
with the InEnTec Technology and HUI's own technology once fully developed.

As the European countries continue to refine and streamline their regulatory
framework, the Board remains optimistic that renewable energy projects,
including those led by HUI, will be able to advance more rapidly and
efficiently in the future.

In partnership with InEnTec, with its commercial readiness and scalable
solutions , the Board believes HUI is well-positioned to play a prominent role
in renewable hydrogen production globally.

Jeff Surma, Chief Executive Officer of InEnTec, commented: "I am truly
delighted to embark on this cooperation with HUI. I firmly believe that a
technology as versatile and innovative as InEnTec's is exceptionally
well-suited for the MENA region, where the need for sustainable and advanced
waste management solutions is both urgent and growing. InEnTec's system, with
its proven capability to be fully operational, commercially viable, and
scalable, represents a transformative leap forward in addressing the global
waste crisis. In a world where landfilling and incineration remain the
predominant and increasingly problematic methods of waste disposal, the
introduction of a cleaner, more efficient alternative is not only timely but
essential. HUI is the ideal partner to introduce, market, and implement this
groundbreaking technology across the region. Together, we can drive
significant progress toward a more sustainable and environmentally responsible
future."

Aleksandra Binkowska, Chief Executive Officer of HUI, commented: "The global
hydrogen market was valued at USD 262.13 billion in 2024 and is projected to
grow to approximately USD 556.56 billion by 2034, representing a compound
annual growth rate (CAGR) of 7.82%. In this rapidly expanding sector, numerous
companies, including InEnTec, and HUI, are actively working to address two of
the most pressing global challenges: the transition to clean energy and the
mitigation of landfill waste. It is a distinct privilege to participate in the
development of a project within the MENA region, utilising the most advanced
waste-to-energy technology in the world.  We are aligned in our mission, and
I am deeply appreciative of the opportunity to contribute to this important
and impactful initiative."

 

Howard White, Non-Executive Chairman of HUI, commented: "After working
tirelessly to find funding for an early-stage technology, the opportunity of
working with a re-purposed plasma technology that I first engaged with back in
2008 is very exciting. With the low power costs and labour costs in the
regions we are focusing on, I anticipate substantial interest considering that
the 3 primary functions, elimination of waste plastic and tyres, production of
low-carbon hydrogen for construction materials and CO2 for CCUS, meet primary
goals in both Saudi Arabia and UAE. We anticipate substantial support from the
60-plus steel mills and 40-plus cement plants that we will be targeting
immediately. One line of the InEnTec Technology with gas water shift produces
4000 tons of hydrogen, 50,000 tons of CO2 from 20,000 tons of plastic
feedstock."

 

For further information, please contact:

 

Hydrogen Utopia International PLC

Aleksandra Binkowska

+44 20 3811 8770

 

Alfred Henry Corporate Finance Limited (LSE Corporate Adviser)

Nick Michaels/Maya Klein
Wassink

+44 20 8064 4056

 
 
 

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
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 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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