Clear Capital Markets Broker Note

Clear Capital Markets, corporate broker to Hydrogen Utopia International PLC, has published a broker note on the Company, authored by Jonathan Plant and dated September 2026. Its conclusion is that HUI has moved from broad hydrogen optionality to a defined economic architecture: a business that creates waste-to-fuels projects and is paid through technology access, licence and development fees, recurring management income and carried participation — without having to fund or own the plants themselves. The note takes the Saudi waste-plastics-to-SAF model as its anchor case, adds the newly licensed UK territory as a second route backed by the SAF Mandate and potential Revenue Certainty Mechanism support, and sets out how certificate economics shape what compliant supply is worth to obligated fuel suppliers. It closes with a clear map of the milestones that would build on this — funded engineering, feedstock and offtake terms, and repeatable project economics. We are pleased to publish it here in full.