REG-Powerhouse Enrgy Grp: Project update

Powerhouse EnergyAnnouncement

01/11/2021 07:05

Powerhouse Energy Group plc

("Powerhouse" or the "Company")

1 November 2021

Project Update

Powerhouse Energy Group plc, the UK technology company commercialising
hydrogen production from non-recyclable plastic waste, is pleased to provide
an update on its progress in the UK.

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
fully operational during 2023.

Protos Plastics to Hydrogen No. 1 Limited, the special purpose vehicle
(“SPV”) has been established by the Company’s partner, Peel NRE, to
develop the plant and to own rights to the first project at the Protos site.
The SPV has been making progress on contracting arrangements necessary to
reach construction start with support from the Company and Peel NRE with
significant works carried out on aspects of the site including the access road
and with further enabling works ongoing. Peel NRE submitted a planning
application for a complimentary Plastic Park at Protos in October this year
which provides for further materials recovery and plastics sorting, together
with recycling activities.

Peel NRE has also submitted a planning application for a second facility at
Rothesay Dock on the north bank of the River Clyde, West Dunbartonshire.

In light of this progress and the continued commitment from both parties to
work collaboratively towards the delivery of a pipeline of DMG facilities in
the UK, the Company and Peel NRE have agreed extensions to the date of
termination rights within the Collaboration Agreement (to 31 August 2022) and
to Peel NRE’s Exclusivity Option End date (to 31 August 2022). This reflects
the confidence the parties have in completing Protos and in their ongoing
collaborative arrangements.

The Company has also agreed to extend the availability period for the Loan
facility provided to the SPV, announced on 12 May 2021, until 28 February
2022. 

-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 or 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



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