Hydrogen Utopia in Joint Venture with Powerhouse Energy for Waste Plastic to Hydrogen Plant in Ireland￼￼
Hydrogen Utopia International PLC, a company pioneering non-recyclable waste plastics to hydrogen technology, announced that it has agreed heads of terms (HoTs) with Powerhouse Energy Group PLC for the joint development of a site at Lanespark in Co.Tipperary in the Midlands in Ireland.
The Lanespark Project is anticipated to lead to HUI’s first operational full scale waste plastic to hydrogen facility in Europe.
It is anticipated that the Lanespark Project will not only bring a site that can benefit from either local, national or EU grant funding or a combination of them, but which will also offer significant potential for local feedstock supply and offtake agreements with potential tier 1 customers.
The proposed waste plastic to hydrogen plant will be built on part of the site currently leased to Trifol Resources Limited (“TRL”). The site was referred to in HUI’s announcement of its investment in TRL and the proposed plant in Ireland on 26 April 2022.
Guy Peters, Executive Chairman of HUI, commented: “This deal offers us the opportunity to jointly pioneer a European waste plastic to hydrogen plant in an area that offers plentiful feedstock supply and offtake potential in an attractive jurisdiction.
“Utilising the technological expertise and skills of both companies’ teams and our wider network of suppliers and experts should enable us to deliver a plant that will act as a circular economy showcase to the world.”
Aleksandra Binkowska, CEO of HUI, commented: “We are at a critical point in modern world history as a result of global forces beyond our control. The global pandemic and the invasion of Ukraine caused an economic and geopolitical crisis which changed the world as we knew it.
“That reinforces a need for strong alliances and partners who share our goals and vision. HUI joining forces with PHE for our project in Ireland is a natural and complementary alliance: together, sharing knowledge and resources, we can realise our vision more quickly and efficiently. United we stand, divided we take a lot longer.”