REG - Powerhouse Energy Gp - Framework Agreement with National Hydrogen

Powerhouse EnergyAnnouncement

22/02/2024 07:00

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RNS Number : 9961D  Powerhouse Energy Group PLC  22 February 2024

22 February 2024

 

Powerhouse Energy Group plc

("Powerhouse", "PHE" or the "Company")

 

Framework Agreement with National Hydrogen of Australia

 

Powerhouse Energy Group plc (AIM: PHE), a company pioneering integrated
technology that converts non-recyclable waste into low carbon energy,
announces the signing of an initial 5-year framework agreement ("the
Agreement") with Australian based, National Hydrogen Ltd ("National H2"). The
Agreement sets out the terms on which the Company's technology and engineering
expertise would be provided, on a project-by-project exclusivity basis, to
National H2 for its intended roll out of multiple hydrogen-based projects
across Australia, Italy, Switzerland, and Hong Kong.

 

Under the Agreement, Engsolve, now a wholly owned subsidiary of Powerhouse
Energy Group, will undertake the Front-End Engineering Design (FEED) for the
facilities, which would be fully funded by National H2, ensuring a seamless
and well-supported development process.

 

In addition, Powerhouse and National H2 would work closely with the chosen
Engineering, Procurement, and Construction (EPC) contractor. This collective
effort will harness the expertise of all parties involved, enabling the
successful realization of these projects, each of which would be subject to
further project specific documentation being entered into at the time between
PHE and National H2.

 

Powerhouse will not be required to contribute any capital for these projects.
Instead, the collaboration will be based on a license fee and royalties model.
This arrangement establishes a long-term relationship between Powerhouse and
National H2, while also potentially providing a long-term income stream for
the Group.

 

Development of the projects in Australia, Italy, Switzerland, and Hong Kong by
National H2, using PHE's technology, could mark a significant milestone for
Powerhouse, demonstrating our growing global reputation and our commitment to
driving the development of sustainable energy solutions.

 

Powerhouse looks forward to working closely with National H2 to deliver these
projects successfully, fostering innovation and creating a positive impact on
the global hydrogen landscape. Further updates on the collaboration will be
provided as and when appropriate.

 

Paul Emmitt, Chief Executive Officer, commented:

"We are excited to leverage our expertise and advanced technologies to
optimise these facilities, setting new benchmarks for the hydrogen industry."

 

"This is the culmination of several years of work, discussion and negotiation
between Richard Allen, Chairman of National Hydrogen and me. I am very pleased
that we have finally concluded today's agreement and I look forward to a long
and prosperous relationship with National Hydrogen. This a major milestone for
us, delivers a significant endorsement for our technology and know-how and
provides us with both a platform for growth and a potential long-term income
stream."

This announcement contains inside information for the purposes of the UK
version of the market abuse regulation (EU No. 596/2014) as it forms part of
United Kingdom domestic law by virtue of the European Union (Withdrawal) Act
2018, as amended.

 

 For more information, please visit www.phegroup.com (http://www.phegroup.com)
 or contact:

 Powerhouse Energy Group plc                                +44 (0) 203 368 6399

 Paul Emmitt

 Strand Hanson Limited (Nominated & Financial Adviser)      +44 (0) 207 409 3494

 Ritchie Balmer / James Harris / Rob Patrick

 Turner Pope Investments (TPI) Ltd (Broker)                 +44 (0) 203 657 0050

 Andrew Thacker / James Pope

 Tavistock (Financial PR)                                   powerhouse@tavistock.co.uk (mailto:powerhouse@tavistock.co.uk)

 Simon Hudson / Nick Elwes / Saskia Sizen

 

 

About Powerhouse Energy Group plc

Powerhouse Energy has developed a process technology 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, heat and other industrial products
may be derived. The process produces low levels of safe residues and requires
a small operating footprint, making it suitable for deployment at enterprise
and community level.

 

Powerhouse Energy Group also incorporates Engsolve Ltd, which offers
Engineering Services across all sectors with speciality services in the
development of new technologies and clean energy.

 

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

 

About National Hydrogen of Australia:

National Hydrogen of Australia is a renowned company dedicated to advancing
the hydrogen sector. Through strategic partnerships and cutting-edge projects,
National H2 plays a vital role in accelerating the adoption of hydrogen as a
clean energy source, contributing to a sustainable and secure future.

For more information see www.nationalh2.com.au (http://www.nationalh2.com.au)

 

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