REG-Powerhouse Enrgy Grp: AGM Statement

Powerhouse EnergyAnnouncement

30/09/2020 11:05

30 September 2020

Powerhouse Energy Group plc
(“Powerhouse” or the “Company”)

AGM statement

Powerhouse Energy Group plc (AIM: PHE), the UK technology company pioneering
hydrogen production from waste plastic, will hold its Annual General Meeting
(AGM) at 11.30am today. At the meeting, Tim Yeo, Chairman, will make the
following statement:

“In the past year Powerhouse has been transformed. The recent successful
fundraise has given us a strong financial base for building our first
commercial scale plant at Protos under the wing of our UK development partner
Peel.

Once construction at Protos begins we will intensify our engagement with
international partners to help us deliver DMG technology in overseas markets.
Many countries face an urgent and growing problem of plastic waste. Demand for
distributed sources of hydrogen and electricity is increasing. Powerhouse has
the answer to all these needs.

Today we are delighted to welcome our new director, Kirsty Gogan. Kirsty is
managing partner of LucidCatalyst and was Co-founder of Energy for Humanity,
organisations which are both focused on decarbonisation of the energy
industry. Her experience, skills and reputation will greatly strengthen our
communications with governments, regulators and consumers both in the UK and
abroad.

I am also pleased to report that Peel is expected to soon announce the next
two sites for which planning applications will be submitted for the
construction of the second and third DMG plants in the UK. Coupled with Peel's
£1 million investment in Powerhouse, this is a clear sign of confidence in
our future.

I have campaigned for greater protection of the environment on land and sea
and for a faster switch to a low carbon economy ever since I served three
decades ago as an environment minister. I am therefore excited and extremely
enthusiastic about my new role as your Chairman. 

I am confident that Powerhouse’s prospects have never been better. With the
help of our executive team under David Ryan and our strengthened board of
directors I will do all I can to ensure that, while placing sustainability at
the heart of everything we do, we deliver a highly profitable business for the
benefit of all shareholders.”

A strategic and operational update presentation and a shareholder questions
and answers session will be available to view on the Company’s website at
www.powerhouseenergy.net after the AGM.

For more information, contact:

 Powerhouse Energy Group plc                 Tel: +44 (0) 203 368 6399  
 David Ryan, Chief Executive Officer                                    
 WH Ireland Limited (Nominated Adviser)      Tel: +44 (0) 207 220 1666  
 James Joyce/Lydia Zychowska                                            
 Turner Pope Investments Ltd (Joint Broker)  Tel: +44 (0) 203 657 0050  
 Andrew Thacker/Zoe Alexander                                           
 Ikon Associates (Media enquiries)           Tel: +44 (0) 1483 271291   
 Adrian Shaw                                 Mob: +44 (0) 7979 900733   

Notes for 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 and 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.net

About the Protos project

The first application of the Powerhouse DMG® technology is to be built at the
Protos Site, a Peel L&P energy park development on a 54-hectare site known as
‘Protos’ near Ellesmere Port, Cheshire, England. The site is the first
development by Peel L&P under the Collaboration Agreement.

The planning permission for the application was submitted in September 2019
and, on 3 March 2020, the Cheshire West and Chester planning committee
approved the planning application for the DMG® Technology to be utilised on
the Protos Site.



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