Hydrogen Utopia International PLC (OTCQB:HUIPF, LSE:HUI) traded at 2.10p, up 1.45% at the time of writing, after securing a UK licence to deploy waste-to-fuel gasification technology.
The company acquired the rights to build and operate Plasma Enhanced Melter systems from InEnTec, the technology developer, for a total consideration of $500,000.
This technology converts non-recyclable mixed waste plastics and other hazardous materials into clean syngas without using combustion.
The resulting syngas serves as a primary building block for sustainable aviation fuel (SAF) production.
The agreement follows an earlier exclusive licence covering the Middle East and North Africa.
Management expects the UK market to offer significant growth potential due to new government policies supporting domestic low-carbon fuel production.
The Department for Transport recently launched the £219 million Low Carbon Fuels Fund to scale SAF infrastructure.
This government fund prioritises projects nearing commercial deployment and will distribute £93 million over the next two years to UK-based companies.
The government introduced a statutory mandate requiring SAF to constitute 10% of UK jet fuel demand by 2030.
This requirement will rise to 22% by 2040 and could deliver up to 6.3 million tonnes of annual carbon savings.
The mandate remains technology-neutral across eligible production pathways.
The company believes its distinct feedstock-driven approach positions it strongly to seek financial support from the new government fund.
The business has paid an initial $250,000 for the UK licence and will settle the remaining balance through a promissory note.
Executives will now engage with feedstock suppliers and seek offtake agreements to accelerate UK operations.
The team will also finalise discussions regarding the location of the first SAF facility.