REG - Powerhouse Energy Gp - Change of directorate

Powerhouse EnergyAnnouncement

06/09/2023 07:00

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RNS Number : 4832L  Powerhouse Energy Group PLC  06 September 2023

6 September 2023

Powerhouse Energy Group Plc

(the "Company" or "PHE")

Change of directorate

Powerhouse Energy Group Plc (AIM: PHE), a company pioneering integrated
technology that converts non-recyclable waste into low carbon energy,
announces that, for personal reasons with immediate effect, Keith Riley has
stepped down as Acting Chief Executive Officer and as a director of the
Company.

Paul Emmitt, the Company's Chief Operating Officer, has agreed to become
Acting Chief Executive Officer and it has also been agreed in principle that
Mr Riley will continue his relationship with the Company as a consultant. This
will enable an orderly handover of Mr Riley's responsibilities through the
appointment process for Powerhouse's new CEO and will enable the Company to
continue to have access to Mr Riley's knowledge of the Company's business. A
further announcement will be made in due course as the process progresses.

Tony Gardner-Hillman, Non-Executive Chairman of PHE, commented:

"On behalf of the whole board I thank Keith warmly for his tireless work for
Powerhouse. We respect Keith's decision, after so many years of devoting
himself to business, to shift his focus. Under his full-time leadership as
Acting CEO the Company has made considerable progress and the foundations of a
sustainable and prosperous future have been laid. We are very pleased that
Keith will remain with us as a consultant so that we retain access to his
immense knowledge of the Company and its business sector."

Mr Riley will not be standing for re-election at the Company's Annual General
Meeting on 7 September 2023. The resolution for his re-election will be
withdrawn.

For more information, contact:

 

 Powerhouse Energy Group plc                       +44 (0) 7733 146326

 Antony Gardner-Hillman

 WH Ireland Limited (Nominated Adviser)            +44 (0) 207 220 1666

 James Joyce

 James Bavister

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

 Andrew Thacker

 James Pope

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

 Simon Hudson

 Nick Elwes

 Heather Armstrong

 

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. 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.

 

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.

 

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

 

For more information see www.powerhouseenergy.co.uk
(http://www.powerhouseenergy.co.uk)

 

END

 

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