REG-Powerhouse Enrgy Grp: Operational update

Powerhouse EnergyAnnouncement

06/05/2022 07:15

Powerhouse Energy Group plc

("Powerhouse" or the "Company")

6 May 2022

Operational Update

Powerhouse Energy Group plc (AIM: PHE), the UK technology company
commercialising hydrogen production from plastic, provides an operational
update.

Further to the recent appointment of Paul Drennan-Durose as Chief Executive
Officer, the management team has been working closely, and collaboratively,
with Peel NRE Ltd.’s leadership team on their Protos plant project in the
UK, and the Company has been very much involved in their process of
selecting world class construction partners for the ultimate build phase, and
the financial assessment of the SPV business plan.

In addition to this, the new CEO has been leading the Company’s management
team, meeting other members of the international waste and hydrogen ecosystem
Powerhouse operates within, including premium grade suppliers, other
technologists, and potential project partners, to explore other potential
routes for the Company to develop technology, and to commercialise the group.
As well as this, management is actively scoping opportunities to further
develop the technology readiness level of its offering, and to showcase
thisacross international platforms.

The Company has been examining and reviewing the Powerhouse business and its
operations, with a view to setting out in the near future an evolved business
model, to seek optimal results and value for all stakeholders. The
Company plans to be in a position to share this, and other developments, with
investors in more detailed announcements shortly, and the strategic path at or
around the time of the next AGM.

Paul Drennan-Durose states:

“It’s now been eleven or so weeks since becoming Powerhouse CEO, and in
joining the rest of the board in leading the business on the next phase of its
development. As you would expect in these early stages, I and the new board
members, and our new Chairman, have been in an intense discovery phase, which
has included rapidly meeting with many of the stakeholders and partners that
Powerhouse has entered relationships with, and with potential collaborators
and partners. We are confident in the future of the business, applying
learning from the Company’s prior experiences, and capitalising on the
increasing market relevance, and the increased relevant experience we are
building within Powerhouse and its network.”

-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) Becca Smith      Mob: +44 (0) 7766522305    

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
efficiently and economically convert them into syngas from which valuable
products such as chemical precursors, hydrogen, electricity and other
industrial products may be derived. Powerhouse’s technology is one of the
world's first proven, distributed, modular, hydrogen from waste (HfW) process.

The Powerhouse DMG® process can generate up to 2 tonnes of road-fuel quality
hydrogen or more than 58MWh of exportable electricity per day.

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. As announced on 11th February 2020 under its Supplemental
Agreement with Peel Environmental, Powerhouse will receive an annual license
fee of £500,000 in respect of each project which is commissioned.

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



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