Hydrogen Utopia International (LSE:HUI) said its wholly owned Saudi unit HUI KSA has entered a non-binding Memorandum of Understanding with RECYCLEE to establish a long-term strategic collaboration for feedstock supply in the Kingdom.
HUI, which converts non-recyclable mixed waste plastic into hydrogen, clean fuels and materials and holds exclusive MENA rights to the InEnTec PEM melter system, said RECYCLEE will aggregate unrecyclable plastics and end-of-life tyres across its operational network to create a structured and reliable feedstock stream.
The parties intend RECYCLEE to supply and HUI KSA to offtake up to 200,000 tonnes per annum of qualifying waste for a planned waste-to-energy and Sustainable Aviation Fuel production facility in Jubail Industrial City using InEnTec technology.
The MoU establishes a framework for negotiating a definitive long-term feedstock supply agreement, remains non-binding except for customary confidentiality provisions and allows either party to withdraw from discussions.
"Securing access to a scalable and reliable stream of unrecyclable waste feedstock is fundamental to the successful deployment of our technology and the delivery of commercially viable projects in the region," Aleksandra Binkowska, Chief Executive Officer of HUI, said.
The parties will now progress technical, commercial and regulatory workstreams with a view to finalising a definitive agreement.
