REG-Powerhouse Enrgy Grp: Exclusivity agreement - technology in Greece and Hungary

Powerhouse EnergyAnnouncement

10/05/2021 07:05

10(th) May 2021

Powerhouse Energy Group plc

("Powerhouse" or the "Company")

Powerhouse exclusivity agreement to deploy technology in Greece and Hungary

Powerhouse Energy Group plc (AIM: PHE), the UK technology company
commercialising hydrogen production from waste plastic, is pleased to announce
that it has agreed to enter into non-binding Heads of Terms with Hydrogen
Utopia International (“HUI”) with a view to granting an exclusive
non-transferable licence for the application of its DMG® technology in Greece
and Hungary. Under the heads of terms HUI will pay Powerhouse €250,000, of
which €25,000 is payable immediately with the balance becoming payable when
the conditions of the heads of terms are satisfied. Powerhouse will continue
to receive a licence fee for any DMG® plant which becomes operational in any
location so the Company’s worldwide rights to the technology are not
affected by these heads of terms.

The use of this technology, which is designed to convert waste plastic into a
syngas and/or hydrogen, is subject to a formal agreement being reached between
Powerhouse and HUI.

Tim Yeo, Executive Chairman of Powerhouse Energy Group, said:

“Powerhouse is pleased to extend the countries in which it is intended HUI
will help deploy its DMG® technology to include Greece and Hungary having
already entered a MOU in relation to Poland. This is part of our long-term
vision for rolling out sustainable hydrogen technology internationally. We
believe this will accelerate the clean energy transition in both Hungary and
Greece and provide those countries with a solution to end-of-life
plastic”. 

Aleksandra Binkowska, CEO of HUI, said:

"I am delighted that the alliance between Powerhouse and HUI has become
stronger. Since our first MOU in November our mutual work has been very
successful. Now with potentially three territories under our umbrella, I
believe that this will help speed up the DMG® system rollout. The Polish
Centre of Hydrogen is still our main target, but we are more than pleased to
have new opportunities in new markets to target for the proposed expansion of
DMG® to the mutual benefit of Powerhouse and HUI".  

More information about HUI's plans for the rollout of the technology in Greece
and Hungary and the partners with whom it will be working with will be
published in due course.

-ENDS-

For more information, contact: 

 Powerhouse Energy Group plc                       Tel: +44 (0) 203 368 6399  
 Tim Yeo, Executive Chairman                                                  
                                                                              
 WH Ireland Limited (Nominated Adviser)            Tel: +44 (0) 207 220 1666  
 James Joyce/ Lydia Zychowska                                                 
                                                                              
 Turner Pope Investments (TPI) Ltd (Joint Broker)  Tel: +44 (0) 203 657 0050  
 Andrew Thacker                                                               
                                                                              
 SisterSmith PR (media enquiries) Becca Smith      Mob: +44 (0) 7766522305    

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.co.uk

About Hydrogen Utopia International 

Hydrogen Utopia International was founded in 2020 by Aleksandra Binkowska. The
UK based technology company is actively working with the EU to gain funding
and subsidies for the first waste to energy DMG plant in Konin, Poland.

 https://www.hydrogenutopia.eu/



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