Master Services Agreement with io consulting

Hydrogen Utopia International PLC (LSE: HUI), a pioneering company focussed on transforming non-recyclable waste plastic into hydrogen and advanced fuels, such as jet fuel and Sustainable Aviation Fuel (SAF), is delighted to announce that it has entered into a Master Services Agreement ("MSA") with io consulting (energy) UK LLP ("io"), based in London. io is an engineering consultancy providing front-end loading and strategic advisory services across the energy, chemicals, resources and decarbonisation sectors, and is a strategic joint venture between McDermott and Baker Hughes.

Under the terms of the MSA, io will provide HUI with engineering and consulting services to support the development and commercialisation of HUI's waste plastic-to-hydrogen and waste plastic-to-SAF projects. Using its capital value process, io will support projects from initial feasibility through progressive project definition, helping establish the technical and commercial basis required to support investment decisions.

io brings together a multidisciplinary team of consultants, engineers and project management professionals with experience across complex energy and chemicals developments. Its engagement will provide HUI with specialist technical, commercial and project development capability, as HUI progresses its growing pipeline of project opportunities.

In particular, io will support HUI in the evaluation and development of its UK SAF opportunity, bringing together the technical, commercial and project development requirements needed to progress the opportunity. This will include consideration of potential routes to funding and financing, together with support for HUI's engagement with relevant stakeholders, partners and funding programmes.

The engagement follows HUI's announcement on 17 August 2026 that it has secured a UK licence from InEnTec Inc. for its proprietary PEM® (Plasma Enhanced Melter) gasification technology, enabling HUI to pursue the production of SAF from non-recyclable waste plastics in the UK.

The UK Government has identified SAF as a strategically important component of the transition to lower-carbon aviation. The Department for Transport (DfT) has enacted the SAF Mandate, requiring UK fuel suppliers to ensure an increasing proportion of SAF within the aviation fuel mix over time.

In June 2026, the DfT announced a £219 million Low Carbon Fuels Fund, including £93 million to be made available over the next two years to support the development and commercialisation of UK SAF production capacity, as part of the Government's ambition to develop the UK as a global hub for low-carbon fuels.

HUI intends to assess and pursue appropriate funding opportunities available under these programmes as its UK SAF proposition develops. io will apply its sector and project development expertise to support the continued development and definition of HUI's project opportunties, helping understand and address relevant technical, commercial and funding requirements and supporting discussions with potential partners and stakeholders.

Duncan Snelling, Chief Technical Officer of HUI, stated: "We are very pleased to be working with io consulting. Their experience as project architects across complex energy developments will be valuable as we advance our UK SAF opportunity and wider advanced fuels portfolio. io's ability to integrate the technical, commercial and project development elements of complex projects will help us progress these opportunities on a co-ordinated way as they move towards investment and delivery. We look forward to working closely with the io team on the UK SAF project and, as our pipeline develops, on future advanced fuels projects."

Imran Esmail, CEO of io consulting, commented: "We are delighted to be supporting HUI as it develops its UK SAF opportunity and wider advanced fuels portfolio. The combination of waste conversion, lower-carbon fuels and a developing UK market creates an interesting opportunity, but ultimately successful projects need to bring together the technology, commercial case, funding strategy and route to delivery. Our role is to help HUI develop the opportunity in a structured way, building the level of project definition needed to support sound investment decisions and constructive engagement with partners and stakeholders. We look forward to working closely with the HUI team as the UK SAF project progresses."

Hydrogen Utopia International PLC

Aleksandra Binkowska

Alfred Henry Corporate Finance Limited (LSE Corporate Adviser)

Nick Michaels/Maya Klein Wassink

Clear Capital Markets (Broker)

Bob Roberts