IN BRIEF: Hydrogen Utopia signs accord to license tech for Middle East

Hydrogen Utopia International PLC - London-based company focused on the conversion of non-recyclable mixed waste into clean hydrogen, new materials and renewable heat - Signs binding outline agreement to license waste-to-hydrogen technology from Richland, Washington-based InEnTec Inc. The accord gives Hydrogen Utopia the right to negotiate exclusive licences for InEnTech's technology in the Middle East North Africa region. Hydrogen Utopia pays USD100,000 for a six month exclusive negotiation period. The funds come from no-interest loans provided by Chief Executive Officer Aleksandra Binkowska and Executive Director Howard White.

InEnTech's technology has "technology readiness level 9" certification, and Hydrogen Utopia says there is limited risk appetite in countries such as Saudi Arabia, Oman and the UAE for technologies that have not yet reached TRL9. "As a result, the company has decided to pivot its near term focus immediately towards the InEnTec technology," Hydrogen Utopia says.

"The GCC countries have shown immense interest in cleaning their nations from accumulating waste, driven by both internal sustainability goals and growing international scrutiny," Hydrogen Utopia says. "In this context, a TRL9 waste-to-hydrogen solution presents a highly attractive alternative, simultaneously addressing an immense waste crisis and supplying clean hydrogen for heavy industry." It says the potential market for this in the Gulf region is "vast".

Current stock price: 1.39 pence, down 9.2% in London on Monday

12-month change: down 80%

By Tom Waite, Alliance News editor

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