Prime Highlights
- HUI to purchase single rights under 10 MENA clean hydrogen project licenses.
- UAE and Saudi Arabia development projects are profitable for InEnTec’s new plasma gasification technology.
Key Facts
- License would be a $50–100 million joint venture with local joint venture partners, and EPC guarantees.
- HUI to increase revenues from minority interests, license fees, and long-term management contracts.
Key Background
Hydrogen Utopia International (HUI) world-wide waste-to-hydrogen industry leader zeroes in on MENA strategic growth. HUI acquires ten sole licences for use of US-headquartered InEnTec Inc.’s plasma-enhanced melter (PEM) technology. Groundbreaking solution cleanses range of waste streams—from mixed plastics to hazardous waste—into high-purity hydrogen and high-value CO₂.
Rather than investing the total capital funds, HUI is investing the capital funds in ventures such as joint ventures with the local partners wherein the local partners will be investing the capital funds of around $50–100 million for a plant. HUI will be investing minority equity in all the ventures and will be reaping repeat revenues in terms of operating fees and management fees. The company is anticipated to post high teens of IRR without any Herculean first-time capital outlays. The company is building commercial operations within the United Arab Emirates and Saudi Arabia—two MENA region marketplace hydrogen development leaders.
Saudi Arabia plans to produce 1.2 million tonnes of low-carbon hydrogen per annum by 2030, while the UAE is bold enough to plan 1.4 million tonnes by 2031 and then go on to achieve ambitious long-term targets at 15 million tonnes per year by 2050. All these are in complete synch with the HUI vision to enable industrial decarbonisation and green fuel creation. The technology of PEM is applied to cement, steel, and high-grade EOR production of CO₂. The twinned product thus places such economies that are in the greatest need of the technology in a position to be decarbonized but also possess industrial efficiency that can be optimized. It is a connection that HUI believes represents an opportunity to construct more hydrogen plants of this capacity in Europe once the regulatory paradigms have been established.
