Zak Mir caught up with Howard White, Chairman of Hydrogen Utopia, to discuss the company’s strategy and progress in the fast-evolving hydrogen and clean energy space. The company pioneering leader in converting non-recyclable mixed waste plastics, tyres, and hazardous waste materials into hydrogen and carbon-free fuels, announces the signing of a Memorandum of Understanding (“MOU”) with Saudi Investment Recycling Company (“SIRC”), a wholly owned subsidiary of the Public Investment Fund of the Kingdom of Saudi Arabia. A practical route from waste plastics to sustainable aviation fuel Hydrogen Utopia has taken a major step forward with a signed Memorandum of Understanding with the Saudi Investment Recycling Company (SIRC), a wholly owned subsidiary of the Kingdom of Saudi Arabia's Public Investment Fund. The agreement frames a clear industrial pathway: convert non-recyclable mixed waste plastics, tyres and hazardous wastes into syngas, turn that syngas into hydrogen, and then use a Fischer-Tropsch route to produce sustainable aviation fuel (SAF). Why this matters Several factors make this announcement strategically important. First, the technology that Hydrogen Utopia deploys is already commercial at scale in the United States and elsewhere, removing the usual "pilot" uncertainty. Second, the supply chain in Saudi Arabia and the backing of state investment structures create a rapid route to large-scale deployment. Third, SAF is set to be in structural shortage for years as regulations and airline decarbonisation commitments push demand far ahead of current supply. There will be a shortage of SAF for the next 20 or 30 years. How the process works The core steps are straightforward: Feedstock: non-recyclable mixed plastics, tyres, hazardous wastes and potentially landfill-mined material. Thermal conversion: Hydrogen Utopia’s melter system produces a very clean syngas stream. Hydrogen production: the syngas is used to extract hydrogen and a carbon monoxide stream suitable for downstream synthesis. Fischer-Tropsch synthesis: CO and hydrogen are converted into long-chain hydrocarbons which are upgraded to kerosene-grade SAF. A critical technical advantage is the exceptionally clean syngas produced by the melter. Cleaner gas reduces catalyst contamination in the Fischer-Tropsch process, which is a 70-year proven pathway to synthetic fuels and a preferred industrial route for high-quality SAF. Saudi support and Vision 2030 alignment The project sits squarely within Saudi Arabia’s Vision 2030 ambitions: reducing waste, building new domestic industries and diversifying the economy. The level of enthusiasm reported from government ministries, local supply chain partners and state investment vehicles stands in contrast to the slower, more cautious approach seen in many European markets. Hydrogen Utopia emphasises that Saudi stakeholders are motivated not only by commercial returns but by national development goals. That outlook has translated into rapid progression from initial discussions to a greenlight for project development by the Public Investment Fund. Commercial and financial outlook The project team is building a business model during Ramadan with an expected internal rate of return close to 20% once finalised. Funding interest appears strong: in addition to PIF/SIRC engagement, multiple family offices and other agencies have signalled readiness to contribute to an estimated project capital requirement in the hundreds of millions of dollars. SAF typically carries a significant premium to conventional Jet A1 because of constrained supply and rising regulatory demand. Hydrogen Utopia targets a competitive production cost with a headline figure in the region of $200 per barrel, which would place the output among the cheaper SAF options globally. Scale, locations and feedstock security Practical deployment options are flexible. The chairman highlighted potential sites such as Jubail, which has suitable infrastructure. Importantly, feedstock is abundant: municipal waste streams, tyres, and legacy landfills can be tapped. Saudi authorities have even discussed the possibility of landfill mining to supply material, which would both unlock feedstock and remediate old disposal sites. The technology does not require brand-new, high-specification industrial customers. That means the solution can be exported and deployed across a wide range of countries, including developing markets that need affordable, fundable projects. The combination of a strong project IRR and state backing makes third-party financing more straightforward. Market access and offtake Offtake discussions are already feasible: PIF owns aircraft leasing and airline interests that could naturally absorb SAF volumes. Meanwhile, global aviation mandates are rising, with regulators in the EU, UK and elsewhere moving to require increasing shares of SAF in jet fuel. That regulatory tailwind is a major driver for long-term demand and supports the project’s commercial case. Why Hydrogen Utopia stands out Proven commercial pedigree — existing operational plants and a TRL9 classification reduce technical risk. Feedstock diversity — not dependent on limited biofeedstocks that constrain other SAF routes. Strategic partners — backing and interest from sovereign investment, local ministries and private capital. Exportable model — design and economics that can be replicated across the GCC and beyond. Risks and considerations Every industrial roll-out faces typical hurdles: final engineering design, securing long-term offtake contracts, refining plant siting and permits, and managing construction and operations. Market pricing of SAF will remain volatile as policy, feedstock availability and competing technologies evolve. That said, strong state support and an existing commercial track record materially lower execution risk. Where this could lead The combination of large-scale feedstock, clean syngas chemistry, an established Fischer-Tropsch route and committed capital creates a near-term pathway to SAF production at scale. If the project secures final approvals and funding as anticipated, it could become a replicable model for tackling global plastic waste while supplying a growing, high-value low-carbon fuel market. Final note Converting hard-to-recycle wastes into hydrogen and SAF is not only a strong climate and waste-management play. It is also a commercially sensible route that leverages industrial chemistry proven for decades. With strategic support and clear demand signals from aviation regulators, the coming years could see rapid scaling of projects that turn environmental liabilities into high-value, decarbonised fuels.
