Hydrogen Utopia International (HUI), a company pioneering non-recyclable waste plastics to hydrogen technology, is providing this market update as to the implications it anticipates for its business as a consequence of the current invasion of Ukraine by Russia.
As a consequence of the war in Ukraine, current sanctions against Russia, and an increasing reluctance to place any significant dependence upon Russian gas and oil supplies, Western and Central European countries are moving to seek alternative sources of energy and energy supply.
HUI’s waste plastic to energy plants will produce syngas that could be used as a fuel in its own right, as a gas engine fuel to produce electrical power or to produce methane or hydrogen. Heat produced as a by-product of the process can be sold and fed into district heating systems, for example, which in Eastern Europe are used extensively.
HUI believes that building new HUI waste plastic to energy plants could be significant in allowing local communities across Europe to ameliorate the effects of the resultant gas and energy supply crisis and the anticipated market changes brought about by ongoing sanctions against Russia and the reluctance to rely upon it as an energy supplier in the future.
HUI plants were always anticipated to have the flexibility to switch between different outputs and their modularity and flexibility should enable HUI to build bespoke units to satisfy local demand.
Even if there were regime change, the Board of HUI believes that it is unlikely that Russia would be invited back to the fold in terms of energy production any time soon. Consequently the adaptability of its plants would not only provide a positive contribution to the present gas price and supply crisis, but it would also extract value for HUI shareholders from the technology being employed in this proactive way.
Aleksandra Binkowska, CEO of HUI, commented:
” This tragic war is a cold shower and a lesson to Continental Europe, nevertheless I am confident that it will provoke the creation of a New World Order. In that order, independence will be crucial and I am proud that HUI’s technology has the potential to help European cities and businesses to become and remain self-reliant. I hope that European Governments and Investors will understand that our technology is an important piece of the puzzle in creating their new energy strategies for many years to come.”
For further information please contact:
Hydrogen Utopia International PLC
Aleksandra Binkowska/Guy Peters +44 20 3811 8770
Alfred Henry Corporate Finance Limited (AQSE Corporate Adviser)
Jon Isaacs +44 20 3772 0021