REG-Powerhouse Enrgy Grp: Response to speculation

Powerhouse EnergyAnnouncement

11/05/2022 12:00

Powerhouse Energy Group plc

("Powerhouse" or the "Company")

11 May 2022

Response to speculation

Powerhouse Energy Group plc (AIM: PHE), the UK technology company
commercialising hydrogen production from plastic, is aware of speculation on
an investor forum website that it may enter a Joint Venture with Hydrogen
Utopia International plc (“HUI”) in a proposed waste to hydrogen facility
in Ireland.

Whilst the Company has had dicussions with HUI on a project opportunity in
Ireland, the board is considering the proposal and how it may become involved
in the potential project which is at a very eary stage. However the Company
cautions that there is no agreement in place and that there is no certainty it
will decide to pursue any such opportunity.

-ENDS-

For more information, contact: 

 Powerhouse Energy Group plc                       Tel: +44 (0) 203 368 6399  
 Paul Drennan-Durose                                                          
                                                                              
 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 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



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