REG - Hydrogen Utopia Intl - Update on HUI’s Engagement with SIRC in KSA

Hydrogen Utopia InternationalAnnouncement

28/11/2025 07:00

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RNS Number : 3573J  Hydrogen Utopia International PLC  28 November 2025

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28  November 2025

Hydrogen Utopia International PLC

 

(the "Company" or "HUI")

Update on HUI's Engagement with SIRC in KSA

Hydrogen Utopia International PLC ("HUI" or the "Company"), a company holding
the right to negotiate access to exclusive licenses for the deployment of
InEnTec's proven PEM Melter technology and developing its own technology to
convert non-recyclable plastic waste into hydrogen and other low-carbon fuels,
is delighted to update investors on its engagement with the Saudi Investment
Recycling Company ("SIRC"), as SIRC is undertaking the validation of InEnTec's
Technology, represented by HUI in KSA.

SIRC is the Kingdom of Saudi Arabia's national authority for waste management,
recycling, and circular-economy development, wholly owned by the Public
Investment Fund (PIF). It serves as the central state platform mandated to
oversee the transformation of the Saudi waste sector under Vision 2030,
shifting the Kingdom from landfill dependency to an integrated,
industrial-scale circular economy.

SIRC is responsible for aggregating, organising, and modernising waste streams
across all regions of Saudi Arabia, including municipal solid waste, plastics,
tyres, construction and demolition waste, and a wide range of industrial
waste. It develops strategic recycling, waste-to-energy, resource-recovery and
decarbonisation facilities nationwide, while partnering with leading global
technology providers. Its mandate includes achieving full landfill diversion
by 2035 and supporting national objectives in hydrogen production, industrial
competitiveness, and the large-scale development of circular-economy
industries.

HUI commenced discussions with SIRC in July 2025. Since then, the relationship
has advanced rapidly. A key factor behind the accelerated pace of engagement
has been the recent addition of Iman Ramani to the HUI team. As announced in
the Company's RNS on 15 September 2025, Imam Ramani joined HUI as its regional
lead for the Gulf Cooperation Council, bringing extensive experience, deep
governmental and industrial relationships, and proven capability in advancing
strategic projects across Saudi Arabia and the wider GCC.

His appointment has been instrumental in enabling the speed and efficiency
with which discussions with SIRC progressed, taking the relationship from
initial contact in July to SIRC actively conducting the validation process of
InEnTech's technology since late September, following HUI's submitted value
proposition.

On 29 September, HUI issued a formal letter to SIRC summarising the value
proposition and requesting endorsement of the InEnTec technology for
deployment in the Kingdom. The letter explained that the plasma-assisted
process is capable of producing low-carbon hydrogen at approximately USD 2 per
kilogram while simultaneously addressing two of the Kingdom's highest-priority
challenges: the treatment of municipal and industrial waste and the
decarbonisation of heavy industries.

The letter further detailed the ability of the system to produce a
concentrated CO₂ stream suitable for Carbon Capture, Utilisation and Storage
(CCUS), potentially supporting Enhanced Oil Recovery (EOR) while also
supplying high-purity CO₂ to major national industrial companies such as
SABIC.

In addition, during ongoing discussions with SIRC, the potential to deploy the
InEnTec technology within Hadeed,  the Kingdom's primary steel producer, was
identified as another potential application. Such deployment could enable the
production of low-carbon steel at a cost below that of the grey steel
currently manufactured in Europe. This would give the Kingdom a decisive
competitive advantage in global steel markets and establish a commercially
viable pathway to large-scale industrial decarbonisation.

The response from SIRC has been exceptionally swift. Shortly after receiving
HUI's submission, SIRC moved to technical and commercial evaluation of the
InEnTec waste-to-hydrogen technology, which is represented exclusively in the
Kingdom of Saudi Arabia by HUI.

This advancement underscores the strong strategic alignment between InEnTec's
technology and the Kingdom's Vision 2030 objectives, including landfill
diversion, hydrogen production, circular-economy expansion and industrial
competitiveness. HUI will continue to cooperate closely with SIRC throughout
the upcoming stages of the evaluation process and remains ready to provide any
additional engineering, environmental or commercial documentation required.

HUI looks forward to updating the market as discussions with SIRC continue.

Sultan Al-Saif, Executive Director, Saudi Investment Recycling Company,
commented: "Having had meetings and information from Hydrogen Utopia, we are
now progressing to further steps in the technology validation and business
reviews, with a view to InEnTec technology potentially being adopted in the
future in the Kingdom of Saudi Arabia."

 

Iman Ramani, commented: "It has been an honour to work closely with SIRC as
they evaluate the potential of InEnTec's waste-to-hydrogen technology for
deployment in Saudi Arabia. The speed and depth of engagement reflect both the
urgency of the Kingdom's Vision 2030 agenda and SIRC's commitment to
world-class solutions. I am proud to support Hydrogen Utopia International in
building this strategic relationship and helping bring cutting-edge
circular-economy technologies to the Kingdom. I truly believe that this is
just the beginning of what we will achieve with our allies in the Kingdom."

 

Aleksandra Binkowska, CEO of Hydrogen Utopia International PLC, commented:

"I would like to express my sincere thanks to SIRC and especially to  Mr
Sultan Al Saif for their support in helping to showcase and advance the
InEnTec technology within the Kingdom of Saudi Arabia. I firmly believe, as I
have said before, that InEnTec's process is a technology the world has been
waiting for, and in the Kingdom it represents not only a pivotal solution for
the future but a cornerstone in strengthening Saudi Arabia's global leadership
in low-carbon technologies. I would also like to extend my gratitude to Iman
Ramani for his exceptional work on behalf of HUI in the Kingdom, which has
been instrumental in the rapid progress we have achieved."

 

For further information, please contact:

 

Hydrogen Utopia International PLC

Aleksandra Binkowska

+44 7795235181

 

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

 

Capital Plus Partners Limited (Broker)

Dominic Berger

+44 (0)207 432 0505

 

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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