SHERIDAN, WYOMING – November 18, 2024 – Plagazi AB, a Swedish clean-tech innovator, has been awarded a €29.5 million grant from the EU Innovation Fund to accelerate its groundbreaking waste-to-hydrogen project. This significant funding will enable Plagazi to scale up its flagship project, converting non-recyclable waste into sustainable hydrogen, marking a major step towards a circular economy and a greener future.
EU Recognition of Plagazi's Innovative Technology
Plagazi's project was selected from a pool of 337 applications, highlighting the company's innovative approach and the potential of its technology to contribute to the EU's climate goals. The grant is a testament to Plagazi's commitment to sustainability and its dedication to developing solutions that address the global challenge of waste management.
Transforming Waste into Green Hydrogen
Plagazi's unique technology utilizes a plasma gasification process, exposing non-recyclable waste to temperatures exceeding 3,000 degrees Celsius. This process breaks down the waste into its molecular components, producing hydrogen gas that can be used as a clean and sustainable energy source.
A Milestone Achievement for Plagazi
Soran Shwan, CEO of Plagazi, expressed his gratitude for the EU grant and acknowledged the collaborative effort behind this achievement:
"This grant is a significant milestone for Plagazi and a validation of years of hard work by our talented team. We extend our gratitude to Zaz Ventures for their invaluable support and guidance throughout the application process. This achievement highlights the importance of teamwork, collaboration and shared vision in achieving groundbreaking results. Together with our partners, we look forward to making a lasting environmental impact."
Benefits of Plagazi's Technology
Plagazi's waste-to-hydrogen technology offers numerous benefits:
- Sustainable Waste Management: Diverts non-recyclable waste from landfills, reducing environmental impact and promoting a circular economy.
- Green Hydrogen Production: Produces clean hydrogen without relying on fossil fuels, contributing to decarbonization efforts.
- Resource Efficiency: Extracts valuable resources from waste, maximizing resource utilization and minimizing waste.
- Reduced Greenhouse Gas Emissions: Offers a cleaner alternative to traditional hydrogen production methods, reducing carbon emissions.
Plagazi's Contribution to a Greener Future
With the support of the EU Innovation Fund, Plagazi is poised to accelerate the development and deployment of its waste-to-hydrogen technology. This initiative has the potential to revolutionize waste management practices and contribute significantly to the transition towards a more sustainable and decarbonized future.