Proposed Letter of Intent and Licence Request

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018.  Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.  

7 April 2026

Hydrogen Utopia International PLC 

 (the "Company" or "HUI") 

Proposed Letter of Intent and Licence Request

Hydrogen Utopia International PLC (LSE: HUI), a company focused on converting non-recyclable waste plastic into hydrogen, clean fuels and advanced materials, and which holds exclusive rights to the Inentec PEM melter system in the MENA region, announces that HUI has received a proposed letter of intent from Mithra Energy S.A., a Poland-based energy company, regarding potential cooperation for the roll out of waste plastic to hydrogen facilities in Poland. In connection with the matters set out in the proposed letter of intent, HUI further announces that it is seeking a non-exclusive licence from Powerhouse Energy Group plc (AIM: PHE) to promote its Distributed Modular Generation ("DMG") technology across selected European markets.

This initiative follows the Board's observation of an acceleration in commercial engagement regarding the need for secure energy supplies that are not based on oil and gas feedstock across Central and Eastern Europe. This, the Board believes, could represent the early stages of a broader regional opportunity for decentralised waste-to-hydrogen infrastructure in Europe. HUI's previously formed team in Poland through whom the proposed letter of intent came, is also having early discussions with counterparties in Slovenia and Croatia.

The Board believes this growing interest reflects both increased investor focus on the progress of waste plastic-to-hydrogen and waste-to-energy technologies, including the Inentec TRL9 system and the Powerhouse DMG demonstration plant, which many stakeholders continue to follow closely, as well as a broader shift in European energy priorities. Ongoing geopolitical instability, including the Russia-Ukraine war and broader conflict and instability in the Middle East, has accelerated demand for secure, localised and sustainable energy solutions, positioning the DMG technology as a potentially compelling alternative.

Projects are expected to be funded principally by third-party developers and financing partners, including through access to European Union funding mechanisms. The Board notes that certain counterparties, including Mithra Energy S.A., are well positioned with strong balance sheets and experience in accessing grant funding.

The Board believes that, if successfully implemented, this model could enable the development of multiple DMG facilities across the region, creating the potential for a scalable pipeline of projects and recurring revenue streams for HUI through licence and origination fees.

Following a period of slower progress within the European hydrogen sector, partly driven by policy emphasis on "green hydrogen", the Board is encouraged by the re-emergence of demand for alternative hydrogen solutions that address both waste management and energy security challenges. It is no longer just about a cleaner planet, but about ensuring energy security on a global scale.

The Board believes that this strategy has the potential to materially enhance HUI's commercial profile, providing exposure to a growing European market through a scalable, low-capital model with the potential for meaningful long-term value.

The Company remains focused on originating and facilitating large-scale projects in the MENA region especially KSA based on HUI's licensed Inentec PEM melter system technology, targeting developments with the potential to reach values in the hundreds of millions of euros, including applications such as sustainable aviation fuel (SAF), green steel, cement, and urea/ ammonia production. In the future, it is the intention to develop HUI's own proprietary technology.

There can be no certainty that a non-exclusive licence will be obtained or that any letter of intent will be agreed. HUI will provide further updates as appropriate.

Aleksandra Binkowska, Chief Executive Officer of HUI, commented:

"It is no longer just about a cleaner planet, but about ensuring energy security on a global scale. It's about saving lives here and now, not just for the generations to come. Europe is a market that takes time to mature; however, the level of engagement we are now seeing has been encouraging and, in some cases, notably swift.

I sincerely hope that Europe now becomes a faster and more robust environment in which to operate, and one where waste-to-energy facilities can truly scale. There is space for multiple solutions, and the growing need for energy security, combined with persistently high energy prices and ongoing geopolitical tensions, should serve as a clear signal to policymakers that the time to act is now. Technologies such as ours can play an important role, and we hope to see increased support and a clearer pathway to deployment across the region.

The team in Poland driving this initiative has operated independently of HUI's current core activities in MENA. I originally brought this group together in the early days when HUI was entirely focussed on Europe, and I am delighted that, after all this time, their persistence is now translating into tangible opportunities for HUI.

I would like to congratulate them on their continued commitment and professionalism, and I look forward to seeing this initiative develop further."

Hydrogen Utopia International PLC 

Aleksandra Binkowska  

+44 7795 235 181 

Alfred Henry Corporate Finance Limited (LSE Corporate Adviser) 

Nick Michaels/Maya Klein Wassink  

+44 20 8064 4056 

Novum Securities Limited (Broker)  

Jon Belliss/Colin Rowbury  

+44 20 7399 9400 

About Hydrogen Utopia International PLC  

HUI aims to become one of the leading new companies specialising in converting non-recyclable mixed waste plastic into hydrogen and other carbon-free fuels, new materials or distributed renewable heat.  

A HUI facility uses non-recyclable mixed waste plastic as feedstock and turns it into syngas from which new products and energy can be produced. HUI anticipates that its revenues will be derived from a variety of sources, dependent upon location and configuration of the HUI facilities, including the sale of syngas, hydrogen and other gases, electricity and heat sales, and the payment to it of fees for a given quantity of non-recyclable mixed waste plastic received at a HUI facility.  

HUI will target areas where there is significant private sector interest or potential, financial backing is accessible and or where substantial government funded sources of grants and loans are or may be available. The global increase in fossil fuel-based energy prices reinforces the need for alternative, price competitive energy sources, which HUI's business model can provide.