REG-Powerhouse Enrgy Grp: Extension of SPV loan facility

Powerhouse EnergyAnnouncement

28/02/2022 07:15

Powerhouse Energy Group plc

("Powerhouse Energy" or the "Company")

28 February 2022

Extension of SPV Loan Facility

Powerhouse Energy Group plc is the UK headquartered technology company
commercialising hydrogen production from non-recyclable plastic waste. The
company has an update on the loan facility it provided to Protos Plastics to
Hydrogen No. 1 Limited, the special purpose vehicle (“SPV”) established by
the Company’s partner, Peel NRE, to develop the plant at the Protos site
(the “Loan Facility”).

Further to the announcement issued on 1 November 2021, the Company has agreed
to extend the availability period for the Loan Facility to the SPV until 31
August 2022. As a result of progression made by the SPV, Peel NRE and
Powerhouse Energy, the loan has been extended to support the expected
timeframes for negotiation and completion of contractual arrangements by the
SPV, required for the commencement of the first build at Protos, in the UK.

Upon taking the helm, Powerhouse Energy’s new leadership has been quick in
engaging with Peel NRE, and this has secured a mature open culture, and
focused level of engagement. 

The Company’s priority remains to ensure the first hydrogen facility using
its DMG technology, based at its UK partner Peel NRE’s Protos site, becomes
operational during 2023.

-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 Energy has developed a proprietary process technology - DMG® -
which can utilise waste plastic, end-of-life-tyres, and other waste streams to
convert them efficiently and economically 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 process.

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



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