Hydrogen Utopia International (HUI) has been listed on the AQSE Growth Market as the company looks to find the funds to continue the rapid expansion of non-recyclable waste plastics-to-hydrogen technology.
Revealed today (Jan 6), the funding from this growth listing will look to support the company’s primary target which is to build the first plastic-to-hydrogen system on the European Continent ahead of a worldwide project pipeline.
In doing so, the company will incorporate Powerhouse Energy’s DMG technology to enable the production of hydrogen from waste.
Read more: Hydrogen Utopia and Linde to deploy Powerhouse Energy’s waste-to-hydrogen technology
Read more: Linde Engineering signs agreement to supply Powerhouse’s waste-to-hydrogen production technology
HUI gained exclusive rights to market the DMG technology in European nations such as Hungary, Greece and Poland and this has seen extensive ties sowed between relevant companies including Linde and Sweco.
In providing a solution to decrease the amount of plastic pollution whilst additionally producing hydrogen as a result, the new technology has significant potential in achieving climate goals such as net zero whilst also reducing the strain on the world.
The HUI units will typically see an output of up to 2.7 tonnes of pure road fuel quality hydrogen from 40 tonnes of plastic feedstock.
The model has the capacity to be rolled out across the globe and is adaptable in line with site specifics and characteristics – for example the electrified thermo chemical conversion chamber could be supplied from local renewable sources, rendering the production step of valuable syngas with zero or low carbon emissions.
Guy Peters, Executive Chairman of Hydrogen Utopia International, said, “Today’s listing is an important milestone in HUI’s development.
“We are pioneering the use of technology to turn non-recyclable waste plastics into hydrogen – addressing the major environmental threat posed by waste plastic and providing alternative energy sources which are not dependent upon the use of coal, natural gas, oil and fossil fuel derived electricity.
“I would like to thank our new and existing shareholders for their support and I look forward to providing updates on our progress as our business develops.”
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