REG-Powerhouse Enrgy Grp: Development partner signs letter of intent

Powerhouse EnergyAnnouncement

11/12/2021 19:15

30 November 2021

Powerhouse Energy Group plc

("Powerhouse" or the "Company")

Development partner, Hydrogen Utopia International, signs Letter of Intent
with Bulgarian city

Powerhouse Energy Group plc (AIM: PHE), the UK technology company
commercialising hydrogen production from waste plastic, is pleased to note
that its development partner, Hydrogen Utopia International PLC (HUI), has
signed a letter of intent with the City of Simitli, Bulgaria.

The letter sets out HUI's intention to build and manage a  Distributed
Modular Gasification plant (DMG®) using Powerhouse’s technology sited in a
commercial sector close to existing waste remediation facilities in Simitli in
the south-west of Bulgaria. The project would be subject to approval by
Powerhouse.

Powerhouse is pleased to see HUI’s progress in
Bulgaria. Powerhouse announced on 7 October 2021 that it had entered into a
binding collaboration agreement (the “Collaboration Agreement”) with
HU2021 International UK Limited, a wholly owned subsidiary of Hydrogen Utopia
International PLC, to market the deployment of DMG® technology in territories
outside the UK. 

All potential projects under the Colloboration Agreement are subject to
approval by Powerhouse and the formal IP Implementation licence to HUI for
construction of its projects approved by Powerhouse, which will cover the
licence fees to be received by Powerhouse for any deployment of the DMG
technology, has yet to be agreed.

-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

About Hydrogen Utopia

Hydrogen Utopia International PLC was founded in 2020 by Aleksandra Binkowska
and has subsequently received financial backing from a number of high net
worth investors. HUI will initially focus its proposed rollout of
DMG® technology on areas where substantial EU and/or government funded
sources of grants and loans are available, such as the EU’s “Just
Transition Fund” which was set up to help fossil fuel dependent communities
such as Konin in Poland transition towards climate neutrality, or where
substantial private sector backing is accessible.

For more information see www.hydrogenutopia.eu/



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