REG-Powerhouse Enrgy Grp: Progress update

Powerhouse EnergyAnnouncement

23/03/2021 07:05

Powerhouse Energy Group plc

("Powerhouse" or the "Company")

 23 March 2021

Progress update

PowerHouse Energy Group plc (AIM: PHE) ("Powerhouse" or the "Company"), the
sustainable hydrogen company pioneering hydrogen production from waste
plastic, announces an update on its progress in the UK and Poland.

The Company’s priority is to ensure the first hydrogen facility using its
DMG technology, based at Peel NRE’s Protos site, meets the target of being
commissioned and operational by the end of Q1 2022. 

77 sites have been identified as potential locations for Powerhouse plants in
the UK. The development of the UK pipeline will form the springboard for the
international expansion of the Powerhouse business model.

Last November Powerhouse signed non-binding Heads of Terms with Hydrogen
Utopia International Limited (HUI) with a view to granting HUI an exclusive
non-transferable licence for the application of its DMG® technology in the
country. Progress in Poland since then has been so satisfactory and the
Company believes that, subject to agreeing a binding agreement with HUI, a
first plant in Poland may be commissioned within a similar timeframe to the
one proposed at the Protos site.

The Company also intends to examine market conditions in other east and
Central European countries later this year. The Company intends to seek
partners in other geographies to work with, adopting a similar business model
to that envisaged with Peel NRE in Britain and HUI in Poland.  

Tim Yeo, Executive Chairman of the Company, said:

“This is an exciting year for Powerhouse Energy as we focus on the Protos
build and aim to see good progress of our technology in Poland. As we look
ahead to the all-important United Nation’s Climate Change Conference of the
Parties (COP26) in Glasgow later this year, we hope Powerhouse technology can
be championed as a part of the solution to the world’s environmental
challenges.

As announced on 19 March, I am delighted that TPI were able to place existing
Powerhouse shares with a significant institutional shareholder and a small
number of other investors.”

END

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 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, the sustainable hydrogen company, 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 GBP500,000 in respect of each project which is commissioned. 

Powerhouse Energy Group’s unique technology provides a solution to
non-recyclable plastic and produces a clean fuel that can help improve air
quality by replacing diesel with hydrogen as a transport fuel.   

Powerhouse technology aims to be used at a local level providing a closed loop
solution within the community for non-recyclable plastic waste, cleaning up
our oceans and helping to accelerate the clean energy transition to reach the
target of net zero emissions by 2030.  

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.net



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