9 May
2019
PowerHouse Energy
Group plc
("PowerHouse
Energy" or the "Company")
Developer W2T Sign
Power Agreement and Waste Feedstock MoU
PowerHouse Energy Group plc (AIM:
PHE), the UK technology company pioneering hydrogen and clean
energy production from waste plastic, is pleased to announce that
its exclusive development partner, Waste2Tricity Limited (“W2T”),
has agreed that electricity generated by W2T at Protos using DMG®
technology will be sold into a private grid operated by Protos and
W2T has also agreed a supply agreement for unrecyclable plastic for
the DMG® plant. This is a further step in the road to towards
achieving Financial Close for the first commercial site utilising
PHE’s DMG Technology.
A MOU (Memorandum of Understanding)
agreement has been agreed by W2T with the innovative recycler,
Advanced Sustainable Developments (ASD), which will see the two
companies work collaboratively at the Protos site in Cheshire. The
generated electricity from the DMG® process will be supplied back
to ASD from the Protos private grid at discount to current power
market prices, which will be commercially beneficial to all
parties.
W2T has also agreed a supply of
feedstock to W2T for processing by DMG® Energy Recovery Technology,
which is intended to come from un-recyclable plastic from ASD’s PET
plastic recycling project at the Protos site, at a price
significantly below current landfill prices. W2T has also arranged
back up supply lines for the DMG® plant in the event of delays.
David
Ryan, CEO of PowerHouse Energy, commented:
“We are very pleased that our DMG®
Energy Recovery Technology will be a key part of the solution at
Protos fostered by Peel Environmental with W2T and ASD, which
envisages the regeneration of plastics in a circular economy
approach to waste management. This matches our vision for the
application of the DMG® technology and we believe it heralds the
finalisation of a number of further DMG®projects.”
This
announcement contains inside information as defined in Article 7 of
the Market Abuse Regulation No. 596/2014 and is disclosed in
accordance with the Company's obligations under Article 17 of those
Regulations.
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 Savidge
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 and DMG
technology
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 syngas 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 50 MWh 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
About Waste2Tricity (Protos)
Limited
Waste2Tricity (Protos) Limited
(W2TP) is the SPV (Special Purpose Vehicle) for the implementation
of energy-from-waste facilities at the Protos site and has been set
up by W2T the development partners of PHE.
Waste2Tricity is a structured
solutions provider to the energy-from-waste (EfW) sector, an
industry supplying increasing amounts of electricity using
feedstock diverted from landfill.
Waste2Tricity works with clients and
partners to develop, fund and support EfW deployment projects that
use proven technology, are profitable and progressive; projects
that currently use high temperature gasification and either steam
cycle or internal combustion engines/gas turbines (ICEs/GTs) to
efficiently convert waste to energy.
For more information see www.waste2tricity.com