LONDON: Hydrogen Utopia International PLC (HUI), a company that converts non-recyclable mixed waste plastic into hydrogen and other green fuels, has announced a new partnership with Powerhouse Energy Group Plc (PHE), a leader in low-carbon hydrogen production technology.
The two companies have signed a subscription and shareholder agreement to build a waste plastic to hydrogen plant on a greenfield site at Fisherstown Energy Park in County Longford, Ireland. The project, which was previously deferred by PHE in October 2023, will be developed by Eranova Longford Limited (Eranova), a joint venture between HUI’s Irish subsidiary, Alister Future Technologies Limited (AFT), and PHE’s subsidiary, Powerhouse Energy International Limited (PHE International).
Under the agreement, AFT and PHE International will each own 50% of Eranova and share the development costs equally. They will also have the right to appoint up to two members to the board of Eranova. The initial financing will be provided by shareholder loans of up to € 200,000 each, with the possibility of raising more funds through further loans or share subscriptions.
HUI will receive a total of £300,000 from PHE for the project, with £100,000 paid upon signing the agreement, £100,000 paid when the heads of terms were signed in March 2023, and £100,000 to be paid once planning permission is granted. The landowner, Fisherstown Property Holdings Limited (FPHL), will also have the option to acquire 5% of the shares in Eranova, resulting in an equal dilution of the shareholdings of AFT and PHE International.
The project is expected to benefit from the EU Just Transition Fund, which aims to support regions affected by the transition to a low-carbon economy. Longford, a county in the Irish Midlands, is one of the main recipients of the fund in Ireland, with €169 million allocated for the period to 2027. The Irish Government’s plan for the fund was approved by the European Commission in December 2022.
The project will use PHE’s proprietary technology, which can process up to 25 tonnes of waste plastic per day and produce up to 2 tonnes of hydrogen and 58 MWh of electricity. The hydrogen can be used as a clean fuel for transport, industry, or power generation, while the electricity can be fed into the grid or used for local consumption. The technology also reduces greenhouse gas emissions and landfill waste.
The next phase of the project will be developing the planning application and securing the necessary permits and approvals. The project is expected to create up to 30 jobs during the construction phase and 10 permanent jobs once operational. The project will also support the local economy and the circular economy by sourcing waste plastic from local suppliers and providing hydrogen and electricity to local customers.
Aleksandra Binkowska, CEO of HUI, commented: “Maintaining a strong allegiance with PHE has been a cornerstone for HUI, and I am thrilled about finalising the Irish joint venture agreement. Both HUI and PHE are dedicated to establishing what we believe will be one of the first plastic waste to hydrogen facilities. We look forward to working with the Powerhouse team to deliver this exciting project. .”
Paul Emmitt, Chief Executive Officer of Powerhouse, commented: “PHE have always been committed to this JV and after working with Aleksandra Binkowska and the HUI team, I am pleased that agreeable terms have been met. I look forward to getting the Longford development moving alongside our other projects.”
HUI signs deal with Trifol Resources for a waste plastic to hydrogen facility in Europe
Powerhouse Energy Group acquires engineering consultancy Engsolve
