REG-Powerhouse Enrgy Grp: Announcement regarding development partner, HUI

Powerhouse EnergyAnnouncement

18/01/2022 07:05

Powerhouse Energy Group plc

("Powerhouse" or the "Company")

Announcement regarding development partner,  Hydrogen Utopia International
PLC 

18 January 2022

Powerhouse Energy Group plc (AIM: PHE), the UK technology company
commercialising hydrogen production from plastic, notes the announcement made
today by its development partner Hydrogen Utopia International PLC regarding
its letter of intent with Mitsubishi Heavy Industries Ltd, a copy of which
is repeated below.

-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) Becca Smith      Mob: +44 (0) 7766522305    

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

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, OR
SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS
ANNOUNCEMENT.

18 January 2022

Hydrogen Utopia International PLC 

 (the 'Company' or ‘HUI’)

Agreement with Mitsubishi Heavy Industries Ltd to review and explore
opportunities to develop waste plastic to hydrogen facilities in Japan

Hydrogen Utopia International PLC (AQSE: HUI), a company pioneering
non-recyclable waste plastics to hydrogen technology, is delighted to announce
that it has signed a letter of intent (“LOI”) with Mitsubishi Heavy
Industries Ltd (“Mitsubishi”) whereby Mitsubishi will review the
technology and explore the commercial opportunities for developing waste
plastic to hydrogen facilities, incorporating Powerhouse Energy’s DMG®
technology, in Japan.

Mitsubishi will have a period of one year to review the technology under the
LOI, unless extended by mutual consent. Any decision to deploy the technology
would be subject to further detailed agreement(s) between the parties. 

Aleksandra Binkowska, CEO of HUI, commented:

“Mitsubishi Heavy Industries has led the development of environmentally
friendly technology in Japan for the last 40 years, helping to move towards a
carbon neutral world. We are privileged and honoured to have entered into this
agreement with Mitsubishi, which we are very hopeful will lead to a roll-out
of HUI facilities across Japan.”  

For more information about the Company, please refer to our
website: www.hydrogenutopia.eu

For further information please contact:

Hydrogen Utopia International PLC
Aleksandra Binkowska/Guy Peters                     +44
20 3811 8770

Alfred Henry Corporate Finance Limited (AQSE Corporate Adviser)
Jon
Isaacs                                                         +44
20 3772 0021   

Novum Securities Limited (Broker)
Jon Belliss/Colin
Rowbury                                  +44
20 7399 9400                     

About Mitsubishi Heavy Industries Ltd

Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading
industrial groups, spanning energy, logistics & infrastructure, industrial
machinery, aerospace and defense. MHI Group combines cutting-edge technology
with deep experience to deliver innovative, integrated solutions that help to
realize a carbon neutral world, improve the quality of life and ensure a safer
world.

MHI’s mission is to channel big thinking into solutions that move the world
forward - advancing the lives of everyone who shares our planet. By bringing
people and ideas together as one, we continue to pave the way to a future of
shared success. Passionately finding new, simpler and sustainable ways to
power our cities, improve infrastructure, innovate manufacturing and connect
people and businesses around the globe with ever-increasing speed and
efficiency.

This is the power of true harmony. This is what moving the world forward is
all about.
This is today's Mitsubishi Heavy Industries Group.

About Hydrogen Utopia International PLC

HUI aims to become one of the leading new European companies specialising in
turning non-recyclable mixed waste plastic into carbon-free fuels, new
materials or distributed renewable heat. 

A HUI facility uses non-recyclable mixed waste plastic as feedstock and turns
it into syngas from which new products and energy can be produced. HUI
anticipates that its revenues will be derived from a variety of sources,
dependent upon location and configuration of the HUI facilities, including the
sale of syngas, hydrogen and other gases, electricity and heat sales, and the
payment to it of fees for a given quantity of non-recyclable mixed waste
plastic received at a HUI facility.

HUI will target areas where there is significant private sector interest or
potential, financial backing is accessible and or where substantial EU and/or
government funded sources of grants and loans are or may be available. The
global increase in fossil fuel-based energy prices reinforces the need for
alternative, price competitive energy sources, which HUI’s business model
can provide.

HUI’s initial strategic focus is to work closely with Powerhouse Energy
Group plc to create a project pipeline of HUI facilities. 

The pressing need to deal with growing amounts of waste plastic combined with
a real momentum in the use of hydrogen from renewable sources may pave the way
for a rapid deployment of and investment in HUI facilities.



Copyright (c) 2022 PR Newswire Association,LLC. All Rights Reserved