Powerhouse Energy Group and Hydrogen Utopia International have reached an agreement for the cooperative development of a non-recyclable waste plastic hydrogen facility in Konin, Poland.
Declares that it will split the development expenditures for the project with HUI. Powerhouse Energy undertakes to pay a fixed amount of €250,000 for any expenditures spent by HUI in developing the site, and the Konin project will be recognized as part of HUI’s contribution to the development costs of the JV. HUI will additionally receive a premium of €250,000, increasing Powerhouse’s total commitment to HUI to €500,000.
London-based Hydrogen Utopia International is a pioneer in the conversion of non-recyclable waste plastics to hydrogen. This joint venture follows an agreement struck between the two companies last month on a 50:50 JV for a waste plastic-to-hydrogen factory in Tipperary, Ireland.