REG - Powerhouse Energy Gp - Resolution of European Patent Challenge

Powerhouse EnergyAnnouncement

22/05/2024 07:00

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RNS Number : 3684P  Powerhouse Energy Group PLC  22 May 2024

22 May 2024

 

 

 

Powerhouse Energy Group Plc

 (the "Company" or "PHE")

 

Resolution of European Patent Challenge

 

Powerhouse Energy Group Plc (AIM: PHE), a company pioneering integrated
technology that converts non-recyclable waste into low carbon energy, is
pleased to announce that the claim originally issued on 6 October 2023 by
GetGo Recycling Limited (now called Onunda Ltd) ("Onunda") against its
European patent and patent applications has been resolved.

 

An agreement has been reached to resolve the issues and the Company looks
forward to progressing its other patent applications within Europe and the
rest of the world.

 

The agreement ensures that no additional challenge to Powerhouse's patents
worldwide will be raised by Onunda or any of its group companies, now or in
the future.

 

 

 

 

Paul Emmitt, CEO of PHE commented:

"This is a major step forward for Powerhouse and I am pleased that this matter
has been resolved.  The whole process has been extremely time consuming and a
significant diversion for the team over the last seven months. The closure of
this matter now allows us to return to our main goals of progressing our
R&D activities, the FTU and our project pipeline which we believe will
provide value to our shareholders."

 

 

 

This announcement contains inside information for the purposes of the UK
version of the market abuse regulation (EU No. 596/2014) as it forms part of
United Kingdom domestic law by virtue of the European Union (Withdrawal) Act
2018, as amended.

 

 

 For more information, contact:

 Powerhouse Energy Group plc                                +44 (0) 203 368 6399

 Paul Emmitt

 Strand Hanson Limited (Nominated & Financial Adviser)      +44 (0) 207 409 3494

 Ritchie Balmer

 James Harris

 Rob Patrick

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

 Andrew Thacker

 James Pope

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

 Simon Hudson

 Nick Elwes

 Saskia Sizen

 

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 Group also incorporates Engsolve Ltd, who offer Engineering
Services across all sectors with speciality services in the development of new
technologies and clean energy.

 

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.phegroup.com (http://www.phegroup.com)

 

 

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