REG - Hydrogen Utopia Intl - Successful EU Grant Application

Hydrogen Utopia InternationalAnnouncement

04/07/2023 07:00

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RNS Number : 8312E  Hydrogen Utopia International PLC  04 July 2023

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 4 July 2023

Hydrogen Utopia International PLC

 (the "Company" or "HUI")

 

Successful EU Grant Application

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 that its
Irish subsidiary, Alister Future Technologies (AFT) Limited ("AFT"), has been
notified that it has been successful in its application for an EU grant as
part of a transnational European consortium established to foster the fight
against ocean borne plastic pollution in the Atlantic regions of Europe. The
grant is expected to reimburse AFT for 75% of expenditure of up to EUR450,000
to be incurred by it in Ireland in identifying a solution for creating value
from such plastic waste through processing it into syngas and hydrogen.

The consortium of which AFT is part brings together organisations across the
entire European Atlantic region and comprises 7 partners from 4 countries: 3
universities, 1 public regional body, 1 Not-for-profit private organization,
and 2 specialized SMEs, of which AFT is one.

The grant will be provided as part of the Interreg Atlantic Area 2021-2027
European Development Fund, which covers the western part of the Atlantic Ocean
and includes all regions of Ireland and Portugal, as well as several French
and Spanish regions close to or on the Atlantic Ocean. The Interreg Atlantic
programme budget for 2021-2027, which was formally approved by the European
Commission on 8th September 2022, is EUR 113 million and provides funding for
up to 75% of investments through the European Regional Development Fund
(ERDF).

 

Aleksandra Binkowska, CEO of HUI, commented:

"I would like to thank our partner, Universitad de Cantabria (Spain) for
embracing our technology, including us in this prestigious project and
recognising the potential of turning plastic into a clean source of energy -
hydrogen. I believe that the combined efforts of academics and entrepreneurs
will lead to the development of a HUI facility despite the challenging times
we are facing. It is encouraging to know that there is belief in what we do.
As an EU citizen I have always believed that HUI's plastic to hydrogen
technology will attract an EU grant. I believe in the ability of the EU to
build a better future. Our efforts are finally being rewarded."

Guy Peters, Executive Chairman of HUI, commented:

"Our business strategy from the outset has been to seek third party and EU or
other governmental funding for the development of HUI facilities. We are
delighted to have been awarded this grant, which I would hope will be the
first of many to come."

"Equally gratifying for us is that this funding comes as part of an EU funded
project to address marine plastic pollution and the blue and green environment
move to a greener Europe and a circular and resource efficient economy, all of
which totally align with our objectives."

 

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 (LSE Corporate Adviser)

Nick
Michaels

+44 20 3772 0021

 
 
 

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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