RCS - Powerhouse Enrgy Grp - Plans for Global Technology and Innovation Centre

Powerhouse EnergyAnnouncement

24/05/2022 07:16

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RNS Number : 5170M  Powerhouse Energy Group PLC  24 May 2022

 

RNS Reach - non-regulatory release

 

Powerhouse Energy Group plc

("Powerhouse" or the "Company")

24th May 2022

 

POWERHOUSE UNVEILS LAUNCH PLAN FOR GLOBAL

TECHNOLOGY AND INNOVATION CENTRE

 

Centre to accelerate and support the technology readiness

 

Powerhouse Energy Group PLC (PHE), who are commercialising syngas and hydrogen
production from non-recyclable waste plastic, has today unveiled its plan to
create a UK based, Global Technology and Innovation Centre (GTIC), which it
aims to open in early 2023.

The GTIC is designed to add strength to building the technology readiness
level (TRL) of technologies and systems PHE has within its offering, so
reinforcing the company's growth strategy.

TRL rankings are an essential step in the commercialisation of new
technologies. It is a method for understanding and assessing the maturity of a
technology during its development phase, and PHE looks forward to bolstering
this at their Global Technology and Innovation Centre.

Powerhouse will build the GTIC in the UK after recently signing agreements
with suppliers to provide a turnkey solution for the centre.

A specific site search for the GTIC is in motion, and the objective is to
situate it close to manufacturing, technology, and research networks, and at
the same time make it accessible to customers. This will aid the continuous
development of the technology for commercial use.

Paul Emmitt, Powerhouse's Chief Technology Officer said "As well as generating
even more credibility on the process capability of our commercial scale
offering, the plant and equipment at GTIC is more representative of the
commercial design. It will be capable of handling more volume than the
equipment the company has used to-date for validation. Additionally, the GTIC
will support evaluations of customers' own feed stock blends - validating,
demonstrating, and testing in real-world conditions, and providing market
replication. This will enable deep and thorough assessment in the
pre-evaluation phase of onboarding projects, supporting business growth".

Chief Executive Officer of Powerhouse, Paul Drennan-Durose, said: "We are
delighted to make this announcement. The new centre will open doors to new
areas of research, innovation, and technology development. It will play a key
role in underpinning the established progress, and in increasing market
readiness. Crucially, it will play a role in intensifying sales pipeline
generation, and in showcasing how Powerhouse can be part of the solution to
the world's waste problems, and the energy transition".

 

-ENDS-

 

For more information, contact:

 

 Powerhouse Energy Group plc                       Tel: +44 (0) 203 368 6399  Paul Drennan-Durose
 WH Ireland Limited (Nominated Adviser)            Tel: +44 (0) 207 220 1666  James Joyce / Megan Liddell
 Turner Pope Investments (TPI) Ltd (Joint Broker)  Tel: +44 (0) 203 657 0050  Andrew Thacker / James Pope
 SisterSmith PR (media enquiries)                  Mob: +44 (0) 7766522305    Becca Smith

 

 

Notes to editors

 

About Powerhouse Energy Group plc

Powerhouse has developed a proprietary process technology - DMG® - which can
utilise waste plastic, end-of-life-tyres, and other waste streams to convert
them efficiently and economically into syngas from which valuable products
such as chemical precursors, hydrogen, electricity, and other industrial
products may be derived.

Powerhouse's process produces low levels of safe residues and requires a small
operating footprint, making it suitable for deployment at enterprise and
community level.

 

Powerhouse is quoted on the London Stock Exchange's AIM Market under the
ticker: PHE and is incorporated in the United Kingdom.

 

For more information see www.powerhouseenergy.co.uk
(http://www.powerhouseenergy.co.uk)

Follow developments @PowerHouseEG (https://twitter.com/PowerHouseEG) .

 

 

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