REG - Powerhouse Energy Gp - Award of FEED to Engsolve

Powerhouse EnergyAnnouncement

18/11/2024 07:00

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RNS Number : 5013M  Powerhouse Energy Group PLC  18 November 2024

18 November 2024

 

Powerhouse Energy Group Plc

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

 

Award of FEED (Front End Engineering Design) to Engsolve

 

Powerhouse Energy Group Plc (AIM: PHE), a company pioneering integrated
technology that converts non-recyclable waste into low carbon energy together
with a revenue generating engineering consulting division (Engsolve),
announces that National Hydrogen Ltd of Australia ("National H2"), with whom
PHE has a five-year licensing and royalties framework agreement, has awarded
Engsolve the Front-End Engineering Design (FEED) study contract for its
Western Australia project.

 

The contract value of Three Hundred and Fifty Thousand pounds (£350,000) is
fully payable by National H2, data gathering will commence in December 2024
with the FEED scheduled to begin in January 2025

 

This award follows National H2 securing a two-hectare site from the Western
Australian Government within the Heavy Industrial Estate just south of Perth
in East Rockingham, Western Australia. This site is strategically located for
both electricity and hydrogen off-takers and is large enough to accommodate
two Powerhouse DMG plants.

 

The commencement of the FEED study will allow a planning and permitting
application to be submitted by National H2 as the required data is generated.

 

National H2 plans to develop projects in Australia, Italy, Switzerland, and
Hong Kong using the Company's technology, demonstrating PHE's growing global
reputation and commitment to driving the development of sustainable energy
solutions.

 

Paul Emmitt, Chief Executive Officer, commented:

 

"I am very pleased that Engsolve has been awarded this order for the FEED
study. This is a key milestone for both PHE and National Hydrogen and will
secure revenues for Engsolve, and thus Powerhouse, whilst also further
building our relationship with National Hydrogen. Given the agreement that we
have with National Hydrogen, we believe that 2025 will be an exciting time for
both companies as we not only look to progress the Western Australia project,
but also look to develop other new opportunities."

 

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018, as amended. The
information is disclosed in accordance with the Company's obligations under
Article 17 of the UK MAR. Upon the publication of this announcement, this
inside information is now considered to be in the public domain.

 

 

For more information, contact:

 

Powerhouse Energy Group Plc

Paul Emmitt, CEO
                                              +44 (0)
203 368 6399

 

Strand Hanson Limited (Nominated & Financial Adviser)

Ritchie Balmer / James Harris / Rob Patrick
                   +44 (0) 207 409 3494

 

SP Angel Corporate Finance LLP (Broker)

Stuart Gledhill / Adam Cowl
                                   +44 (0) 20 3470 0470

 

Tavistock (Financial PR)

Simon Hudson / Nick Elwes / Saskia
Sizen
+44 (0) 207 920 3150

powerhouse@tavistock.co.uk (mailto:powerhouse@tavistock.co.uk)

 

 

About Powerhouse Energy Group Plc

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

 

PHE also incorporates Engsolve Ltd, which is a revenue generating business
offering Engineering Services across all sectors, with speciality services in
the development of new technologies and clean energy.

 

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

 

 About National Hydrogen Ltd:

 National H2 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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