- Press Releases
January 18 (Renewables Now) - UK-based waste-to-fuel start-up Hydrogen Utopia International Pls (AQSE:HUI) announced on Tuesday that it has signed a letter of intent (LOI) with Mitsubishi Heavy Industries Ltd (TYO:7011) that could lead to the introduction of HUI’s waste plastic-to-hydrogen facilities in Japan.
Under the terms of the LOI, the Japanese engineering giant will review the technology and explore the commercial opportunities for the development of plants that would use non-recyclable mixed waste plastic for hydrogen production.
These plants would incorporate proprietary DMG technology developed by HUI’s partner Powerhouse Energy Group Plc (LON:PHE).
Mitsubishi will have one year to review the technology unless extended by mutual consent, HUI said. The potential deployment of the technology will be subject to separate agreements between the parties.
London-based HUI was launched in late 2020 by its CEO Aleksandra Binkowska. The company is dedicated to developing facilities capable of converting non-recyclable plastics into carbon-free fuels, new materials or distributed renewable heat. Its activities will range from the production of energy for local communities to the sale of syngas, hydrogen, power and heat to end customers, according to HUI’s website.
Earlier this month, HUI completed the listing on the AQSE Growth Market.