HUI and PHE have agreed, subject to obtaining an acceptable title to the proposed site and relevant project documentation being completed, to establish a joint venture vehicle owned equally by each company with development costs being contributed to on a 50:50 basis.
The Lanespark Project will not only bring a site that can benefit from either local, national or EU grant funding or a combination of them, but will also offer significant potential for local feedstock supply and offtake agreements with potential tier 1 customers.
The proposed waste plastic to hydrogen plant will be built on part of the site currently leased to Trifol Resources Limited (TRL).
“This deal offers us the opportunity to jointly pioneer a European waste plastic to hydrogen plant in an area that offers plentiful feedstock supply and offtake potential in an attractive jurisdiction” said Guy Peters, Executive Chairman of HUI. “Utilising the technological expertise and skills of both companies’ teams and our wider network of suppliers and experts should enable us to deliver a plant that will act as a circular economy showcase to the world.”
Aleksandra Binkowska, CEO of HUI, added that the global pandemic and the invasion of Ukraine caused an economic and geopolitical crisis which changed the world as we knew it and that this reinforces a need for strong alliances and partners who share the company’s goals and vision.
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