RCS - Powerhouse Enrgy Grp - Development partner, HUI, admitted to AQSE

Powerhouse EnergyAnnouncement

10/01/2022 07:05

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RNS Number : 8382X  Powerhouse Energy Group PLC  10 January 2022

10 January 2022

Powerhouse Energy Group plc

("Powerhouse" or the "Company")

Development partner, Hydrogen Utopia International, admitted to trading on
AQSE

 

Powerhouse Energy Group plc (AIM: PHE), the UK technology company
commercialising hydrogen production from waste plastic, is pleased to note
that its development partner, Hydrogen Utopia International PLC ("HUI"), has
had its ordinary shares admitted to trading on the AQSE Growth Market ("AQSE")
on 6 January 2022.

 

HUI aims to become one of the leading new European companies specialising in
turning non-recyclable mixed waste plastic into carbon-free fuels (such as
syngas, hydrogen and electricity), new materials or distributed renewable heat
and is a licensee of Powerhouse.

 

HUI raised gross proceeds of £3 million by way of a subscription and placing.
HUI's existing cash resources, together with the net proceeds of its
fundraising, will be used to fund the pre-build costs of a HUI facility,
marketing and business development and working capital, including the payment
of the amount due to Powerhouse for HUI exclusivity in Poland, Greece and
Hungary.

 

HUI's ordinary shares trade under the ticker "HUI". For more information,
please refer to the HUI's AQSE Admission Document which is available on the
Company's website: www.hydrogenutopia.eu (http://www.hydrogenutopia.eu)

 

 

-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)                        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
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
(http://www.powerhouseenergy.co.uk)

About Hydrogen Utopia

Hydrogen Utopia International PLC was founded in 2020 by Aleksandra Binkowska
and has subsequently received financial backing from a number of high net
worth investors. HUI will initially focus its proposed rollout of DMG®
technology on areas where substantial EU and/or government funded sources of
grants and loans are available, such as the EU's "Just Transition Fund" which
was set up to help fossil fuel dependent communities such as Konin in Poland
transition towards climate neutrality, or where substantial private sector
backing is accessible.

 

For more information see www.hydrogenutopia.eu/

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