Hydrogen Utopia International plc and Powerhouse Energy Group plc Enter Marketing Agreement
Hydrogen Utopia International PLC entered into a Non-Exclusive Marketing Agreement with Powerhouse Energy Group PLC to promote Powerhouse Energy Group PLC’s Distributed Modular Generation technology in Central and Eastern Europe. The Distributed Modular Generation technology converts waste plastic into syngas and hydrogen. Under the terms of the Marketing Agreement, Hydrogen Utopia International PLC will actively promote and originate potential projects utilising Powerhouse Energy Group PLC’s Distributed Modular Generation technology on a non-exclusive basis.
The structure of the agreement, which includes no fees payable by Hydrogen Utopia International PLC, provides the company with a highly capital-efficient platform to accelerate project origination without balance sheet exposure. Where Hydrogen Utopia International PLC identifies opportunities, it will submit these to Powerhouse Energy Group PLC for independent evaluation, with Powerhouse Energy Group PLC retaining discretion to enter into separate operating licence agreements directly with project developers. Any commercial return to Hydrogen Utopia International PLC is expected to be agreed directly with project developers and will be in addition to any fees payable to Powerhouse Energy Group PLC.
The current structure does not envisage any investment by Hydrogen Utopia International PLC. The Marketing Agreement has an initial term of three years and may be extended subject to successful project delivery.
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Hydrogen Utopia International plc and Powerhouse Energy Group plc Enter Marketing Agreement, source
