Hydrogen Utopia International PLC (AQSE:HUI) has agreed to create its first European waste-plastic-to-hydrogen technology facility in County Tipperary, Ireland.
An agreement has been struck between HUI, which has a licence to use the technology of Powerhouse Energy Group PLC (AIM:PHE, ETR:BT81) to turn non-recyclable waste plastic into hydrogen, and Trifol Resources Ltd.
The deal encompasses a 2.64 hectare site and “potential” access to a plastic feedstock supplier and the “potential” to agree an offtake with a substantial customer.
HUI has agreed to invest €500,000 for a 3.3% stake and a seat on the board of Trifol, which owns a patented technology to turn waste plastic to wax, using a pyrolysis process similar to HUI’s.
The slack wax can be used in various applications such as rust proofing, moisture proofing, polishes and emulsions and is used around the world, HUI said.
Situated on the site of a former railway locomotive repair shop in Littleton, Trifol has planning permission for its plastic-to-wax pyrolysis business, with HUI planning to apply for any necessary regulatory permissions required for its facility.
Using Trifol founder Pat Alley’s connections in the waste industry in Ireland, HUI said it has held meetings with a potential waste plastic supplier that could provide all of the feedstock necessary to run its facility, as well as with a potential customer that could take the facility's anticipated hydrogen and syngas output.
“HUI anticipates that this could lead to long-term supply and offtake agreements at a suitable juncture.”
HUI also said it is “in discussions with a third party in relation to a joint venture to build the HUI facility in Ireland” and had “indications of funding support for the shorter-term funds likely to be required”.