Zak Mir talks to Howard White, Chairman Hydrogen Utopia, in the wake of a report in the Financial Times, regarding airlines scrambling to source aviation fuel.

Airlines do not just worry about fares and demand. They worry about fuel. And when geopolitical tensions flare up, contingency planning starts quickly, including new approaches to aviation fuel supply.

That is the context Howard White, Chairman of Hydrogen Utopia, uses to frame today’s opportunity: rather than treating sustainable aviation fuel (SAF) as a niche ideal, he argues it should be treated as a practical, supply-secure alternative that can withstand disruption.

Why airline fuel shortages matter more than you think

Recent reporting has highlighted how airlines can be hit hard by fuel shortages and price shocks tied to geopolitical events. The headlines are blunt: airlines draw up contingency plans when jet fuel supply becomes uncertain, and disruptions can translate into very large financial impacts.

The underlying lesson is simple. When supply chains rely too heavily on a narrow set of locations and traditional production routes, the entire system becomes more fragile. In that environment, “strategy” is not a slogan. It is a risk management requirement.

The SAF problem: “great idea,” but can it compete on price and supply?

White’s view is that many conversations about SAF stall at a single question: can it reach parity with the price of conventional jet fuel?

He references a point made by a head of a major airline in discussions prior to the current crisis: SAF is welcome, but it needs to “get to par” with jet A1 pricing.

White positions Hydrogen Utopia’s approach as a direct response to that pricing pressure. He describes a SAF cost around $200 versus jet A1 at roughly $175 at the time of his comments, suggesting the “parity” goal is closer than many assume.

“All bases are loaded”: a contra perspective on where Hydrogen Utopia is positioned

White describes the market as myopic. In his framing, people see Saudi Arabia and immediately assume that everything becomes risky. His counterpoint is that the region is unlikely to disappear, and the strategic need for resilient fuel supply and internal investment only increases under stress.

He also reframes the location question. Traditional SAF pathways often require facilities and supply chains that are vulnerable to targeted disruptions. He argues Hydrogen Utopia’s model is more flexible because it is modular and can be deployed in safer jurisdictions.

Waste plastic as a feedstock: solving two problems at once

One of the most compelling parts of the argument is feedstock availability. White’s case rests on the idea that the company does not rely on a natural resource supply chain like oil or gas.

Instead, he points to mixed waste plastic, including unrecyclable plastic, as a “ubiquitous” input across the Middle East and North Africa (MENA) region. In other words: if waste plastic exists everywhere (because it is produced everywhere and often not properly managed), then production can follow demand without being trapped in one geopolitical footprint.

He adds a blunt economic twist: in most countries, authorities may even pay for solutions that remove plastic waste. Hydrogen Utopia, he says, is “not going to be paying for the plastic.” That can convert waste management into a supportive revenue stream rather than a cost centre.

Hydrogen at $2 a kilo: opening doors beyond SAF

SAF is the headline, but White argues the technology unlocks additional markets by producing hydrogen internally at a very low stated cost: $2 per kilo.

He ties this to more than one downstream opportunity:

He also gives a real-world example of supply pressure: Brazil being extremely short of urea due to logistics constraints. In his logic, if hydrogen is competitive, then fertiliser production becomes more scalable and less tied to the same geopolitical vulnerabilities.

Why the timing could be faster than investors expect

In technology markets, delays kill momentum. White pushes back on the typical “wait 2 or 3 years” expectation for development milestones.

He highlights a proposed $800 million project being evaluated for funding and moving toward FID (Final Investment Decision), with Saudi Arabia timelines suggesting movement within up to 15 months.

He also references the creation of a Saudi Arabia subsidiary, which he says can be used as a base for funding and execution in the region. The implication is that the company is not just discussing future potential. It is building the administrative and commercial pathway to scale.

Regulatory and commercial momentum: more than one country is looking

White points to ongoing engagement across the GCC during the Ramadan period, describing the process as active rather than slow.

He mentions discussions and communications involving countries including:

He also notes that one UAE-based company that deploys technologies across the region has begun due diligence to assess whether it should take a major involvement in SAF and other opportunities within the GCC.

What partnerships and monetisation could look like

The next stage, according to White, is not technology validation. It is monetisation: turning interest into financing, contracting, and commercial delivery.

He frames the “game” as one where money becomes available once projects are sufficiently underwritten and funded, and he indicates that this is the direction of travel after a period of embedded regional work and corporate validation through public announcements.

The bottom line: diversification that is strategic, scalable, and disruption-resistant

White’s core thesis is that the current climate is reinforcing a shift in thinking:

In his closing sentiment, White suggests that the situation does not reduce opportunity. It increases it. One catalyst event, he implies, could accelerate the next phase of funding and momentum.

For investors watching sustainable fuels, the question becomes less “is SAF needed?” and more “who can deliver it at scale, in the right places, with resilient supply and credible economics?” Hydrogen Utopia’s pitch is essentially that it has a modular route to get there.