REG-Powerhouse Enrgy Grp: Development partner update

Powerhouse EnergyAnnouncement

12/11/2021 07:05

12 November 2021

Powerhouse Energy Group plc

("Powerhouse" or the "Company")

Development partner, Hydrogen Utopia International, sign framework agreement
with Linde Engineering

Powerhouse Energy Group plc (AIM: PHE), the UK technology company
commercialising hydrogen production from waste plastic, is pleased to announce
its development partner Hydrogen Utopia International PLC (HUI) has signed a
framework agreement with Linde Engineering.  

The framework agreement provides Linde Engineering with a five year
exclusivity to supply HUI in HUI’s development of Powerhouse DMG®
technology particularly in Poland, Hungary and Greece where HUI holds
exclusivity for promotion and marketing of DMG® technology and potentially on
the wider European Continent on a project by project basis. It permits Linde
Engineering at their discretion to engage on any individual project, from
equipment supply through to design and build, and, subject to Chemical Thermal
Conversion Chamber supply approval, to a full EPC in the areas of the European
Economic Area on any HUI developed project.

Linde Engineering has finalised a technical feasibility evaluation to deploy
the syngas clean-up and hydrogen extraction of Powerhouse DMG® technology at
a planned plant to be located in Konin, Poland. The project, if completed, is
expected to contain ten DMG® units in one geographical area. 

This project is subject to funding approval by the European Union’s Just
Transition Fund which will be matched by funds from the Polish Government. 

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. Any opportunities identified by Linde and HUI will be subject
to the terms of the Collaboration Agreement.

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 

James Greenstreet, Non-Executive Chairman of Powerhouse Energy Group, said:

“We are delighted HUI is moving forward with seeking the commercialisation
of DMG® in Europe, having signed a framework agreement with Linde
Engineering, at our roundtable event to mark the 26th UN Climate Change
Conference of the Parties (COP26) in Glasgow. We look forward to HUI and
Linde’s collaboration which would use Powerhouse technology to help
accelerate Poland’s clean energy transition. HUI is championing our
technology across Europe and potentially the world – helping provide a
global solution to plastic waste.”

More information about plans for the rollout of the DMG® technology will be
announced in due course.

-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 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/



Copyright (c) 2021 PR Newswire Association,LLC. All Rights Reserved