Hydrogen Utopia International PLC (LSE:HUI) has incorporated a wholly owned subsidiary, Hydrogen Utopia KSA, in Saudi Arabia as it steps up plans to roll out InEnTec’s waste-to-hydrogen technology across the Middle East and North Africa.
The new Saudi-based entity is intended to support project development aligned with the Kingdom’s Vision 2030 objectives, particularly around waste management, recycling, decarbonisation, and the circular economy. The move is backed by engagement and endorsements from several Saudi government-linked organisations, including Ministry of Investment of Saudi Arabia (MISA), Saudi Investment Recycling Company (SIRC), and the Research, Development and Innovation Authority (RDIA).
To support execution on the ground, the company has appointed Iman Ramani as Vice President. In this role, she will coordinate activities between London and Saudi Arabia, oversee regional stakeholder engagement, and help lead fundraising initiatives. Management said the appointment and local incorporation provide the group with a tangible operational base in a strategically important market, enhancing its credibility with regional partners and positioning it for long-term participation in Saudi Arabia’s emerging clean-energy and waste-to-value infrastructure.
Despite the strategic progress, the company’s financial profile continues to weigh on sentiment. Hydrogen Utopia remains pre-revenue, with ongoing losses, recent cash outflows, declining equity, and increasing debt levels. While technical indicators point to positive momentum in the share price, valuation remains constrained by loss-making fundamentals and the absence of dividend support.
More about Hydrogen Utopia International PLC
Hydrogen Utopia International PLC is a waste-to-energy company focused on converting non-recyclable waste streams—including mixed plastics, tyres, and hazardous materials—into hydrogen and other low-carbon fuels. Using waste as feedstock, its technology produces syngas that can be further processed into hydrogen, electricity, heat, and other gases. The group expects future revenues to be derived from energy sales and waste-processing fees, particularly in markets with strong private-sector demand and supportive public funding frameworks for alternative energy solutions.
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