PowerHouse Energy Group
plc
("PowerHouse Energy" or the "Company")
1 February
2019
PowerHouse
Energy Group CEO Resigns
PowerHouse Energy Group plc (AIM: PHE), the UK technology
company pioneering hydrogen production from waste plastic and used
tyres and developer of the DMG® System must announce that its
CEO, Keith Allaun, has resigned,
effective 1 February 2019.
In a statement to all stakeholders, Mr. Allaun states:
“It is with great regret that I announce that, due to
extenuating personal circumstances, I must leave PowerHouse at this
time. The increase and upgrading to our management team this
past year has been of significant benefit which led to the
completion of our Commercial Design, our Statement of Feasibility
by DNV-GL, and the progress in finalising planning and
permitting. It’s become clear more recently that we require a
seasoned commercial and professional manager at the helm of the
company.
David Ryan, the current Technical
Director, with over 38 years of energy industry experience, and
nearly 5 years as MD of ThyssenKrupp’s UK’s Oil and Gas Operations,
acting as CEO of PowerHouse, will continue to build the team, drive
the commercial objectives, and will begin to implement the rigorous
performance metrics necessary to allow PowerHouse to continue to
contribute to enhancing our world by helping end mis-managed waste
plastic, creating electricity where it’s needed, and providing a
distributed system of hydrogen production for the burgeoning
hydrogen economy.
We have made significant strides to successfully commercialise
DMG® for world-wide roll-out. The team that PowerHouse
is building is up to the task. I intend to make myself
available as, or when, needed for consultation as I attend to
personal matters in the United States. I have every
confidence in this management team, in the Board of Directors, and
our varied partners, here in the UK, and around the world to bring
PowerHouse the success it deserves, and the world needs.”
Cameron Davies, Chairman of
PowerHouse Energy commented:
“Keith has stewarded PowerHouse through challenging and changing
times over his tenure on the board and leading the management team;
he has been responsible for considerable achievements for which we
are very grateful. We wish him every success in his future
challenges and we respect his privacy at this time.
ENDS
For more information, contact:
PowerHouse Energy Group plc
Tel: +44 (0) 203 368 6399
David Ryan, Chief Executive
Officer
WH Ireland Limited (Nominated Adviser)
Tel:
+44 (0) 207 220 1666
James Joyce /Chris Viggor
Turner Pope Investments Ltd (Joint
Broker) Tel: +44 (0) 203
621 4120
Ben Turner /James Pope
Ikon Associates (Media
enquiries)
Tel: +44 (0) 1483 271291
Adrian
Shaw
Mob: +44 (0) 7979 900733
Notes for editors:
About PowerHouse Energy
PowerHouse Energy 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 EcoSynthesis gas from which valuable products such as chemical
precursors, hydrogen, electricity and other industrial products may
be derived. The PowerHouse technology is one of the world’s first
proven, modular, hydrogen from waste (HfW) process.
The PowerHouse DMG® process can generate in excess of 1 tonne of
road-fuel quality H2, and more than 28MW/h of exportable
electricity per day.
The PowerHouse process produces low levels of safe residues and
requires a small operating footprint, making it suitable for
deployment at enterprise and community level.
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