REG-Powerhouse Enrgy Grp: Update re Development Partner, HUI

Powerhouse EnergyAnnouncement

16/02/2022 16:15

Powerhouse Energy Group plc

("Powerhouse" or the "Company")

16 February 2022

Announcement regarding development partner update, Hydrogen Utopia
International PLC

Powerhouse Energy Group plc (AIM: PHE), the UK technology company
commercialising hydrogen production from plastic, notes the announcement made
today by its development partner Hydrogen Utopia International PLC regarding
an update on its discussions with Mitsubishi Heavy Industries Ltd further to
that previously announced on 18 January 2022, a copy of which is repeated
below.

-ENDS-

For more information, contact:

 Powerhouse Energy Group plc                       Tel: +44 (0) 203 368 6399  
 James Greenstreet, Non-Executive Chairman                                    
                                                                              
 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

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED
STATES, AUSTRALIA, CANADA, JAPAN, OR SOUTH AFRICA OR ANY OTHER
JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

 16 February 2022

Hydrogen Utopia International PLC

 (the 'Company' or ‘HUI’)

Discussions update in Japan

Hydrogen Utopia International PLC (AQSE:HUI), a company pioneering
non-recyclable waste plastics to hydrogen technology, announces that following
recent discussions between HUI and Mitsubishi Heavy Industries, Ltd
(“MHI”)  it has been mutually acknowledged that no agreement exists on
exploring  any  potential commercial opportunities for developing waste
plastic to hydrogen facilities in Japan with MHI.

HUI continues to explore opportunities in Japan and is hopeful that it may
work with MHI in the future.

For more information about the Company, please refer to our website:
www.hydrogenutopia.eu

For further information please contact:

Hydrogen Utopia International PLC

Aleksandra Binkowska/Guy Peters                     +44 20
3811 8770     

Alfred Henry Corporate Finance Limited (AQSE Corporate Adviser)

Jon Isaacs       
                                                  
+44 20 3772 0021                                      
                           
                                                             

Novum Securities Limited (Broker)                            
                                        

Jon Belliss/Colin Rowbury                     
            +44 20 7399
9400                    
                                                                             

About Hydrogen Utopia International PLC

HUI aims to become one of the leading new European companies specialising in
turning non-recyclable mixed waste plastic into carbon-free fuels, new
materials or distributed renewable heat.

A HUI facility uses non-recyclable mixed waste plastic as feedstock and turns
it into syngas from which new products and energy can be produced. HUI
anticipates that its revenues will be derived from a variety of sources,
dependent upon location and configuration of the HUI facilities, including the
sale of syngas, hydrogen and other gases, electricity and heat sales, and the
payment to it of fees for a given quantity of non-recyclable mixed waste
plastic received at a HUI facility.

HUI will target areas where there is significant private sector interest or
potential, financial backing is accessible and or where substantial EU and/or
government funded sources of grants and loans are or may be available. The
global increase in fossil fuel-based energy prices reinforces the need for
alternative, price competitive energy sources, which HUI’s business model
can provide.

HUI’s initial strategic focus is to work closely with Powerhouse Energy
Group plc to create a project pipeline of HUI facilities.

The pressing need to deal with growing amounts of waste plastic combined with
a real momentum in the use of hydrogen from renewable sources may pave the way
for a rapid deployment of and investment in HUI facilities.



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