REG-Powerhouse Enrgy Grp: Development partner update

Powerhouse EnergyAnnouncement

14/09/2021 07:05

14 September 2021

Powerhouse Energy Group plc 

("Powerhouse" or the "Company")

Development Partner Update

Powerhouse Energy Group plc (AIM: PHE), the UK technology company
commercialising hydrogen production from waste plastic, announces that its
partner, Hydrogen Utopia International (HUI), that has exclusivity rights over
the Company’s DMG technology in Poland, Greece and Hungary has closed a
fundraise on 9 September 2021 of £2.2 million. 

HUI intends to use the funds raised to purchase long lead items to build a
basic syngas model for the first proposed operating plant in Konin, Poland
which would use Powerhouse DMG® technology as a proof of concept. The
proposed plant remains subject to permitting, approvals and raising the
necessary finance

James Greenstreet, Powerhouse’s Non-Executive Chair, said: “We
congratulate HUI for their successful fundraise and progress in moving forward
the commercialisation of DMG® in Europe. We look forward to our technology
accelerating Poland’s clean energy transition”.

-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                                                                  
                                                                              
 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 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.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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