Hydrogen Utopia International PLC (LSE:HUI, OTCQB:HUIPF) told investors it has signed a memorandum of understanding with Hydrogen Systems LLC to support planned facilities in Saudi Arabia.
The company, in a statement, announced the non-binding agreement which is said to cover engineering, procurement and construction services plus operations and maintenance support.
Hydrogen Systems is described as a Saudi-based hydrogen infrastructure developer and an operator of Shell-branded hydrogen refuelling stations across the region, according to the statement.
The MoU is intended to help HUI convert mixed waste and “indestructible plastics” into hydrogen in Saudi Arabia, the company said.
The MoU builds on HUI’s collaboration with InEnTec Inc, where HUI holds an exclusive licence to deploy InEnTec’s plastic waste-to-hydrogen technology across the MENA region.
Hydrogen Systems’ chief executive Sattam Alsuwailem said: “By combining Hydrogen Systems' regional EPC and O&M expertise with HUI's proven gasification technology and InEnTec's process innovation, we aim to deliver cutting-edge projects that convert waste into clean energy.”
HUI said the framework is expected to progress into definitive agreements as individual projects advance and is also expected to support engagement with the Saudi Investment Recycling Company.