Powerhouse Enrgy Grp Directorate Changes
20 Noviembre 2020 - 09:11AM
UK Regulatory
TIDMPHE
Powerhouse Energy Group plc
("Powerhouse" or the "Company")
20 November 2020
Directorate changes
Powerhouse Energy Group plc (AIM: PHE), the UK technology company
commercialising hydrogen production from waste plastic, announces that David
Ryan will step down from his full-time role as Chief Executive Officer of the
Company on 30 June 2021. Thereafter he will continue to work for Powerhouse as
a consultant to help ensure the successful completion and commissioning of our
first DMG plant at Protos.
The board will now commence a search process to recruit Mr Ryan's successor.
The board has also accepted Mr Ryan's request to concentrate specifically on
the technology, delivering the application on the Protos project and on
building Powerhouse's executive management and operating teams. He will
therefore relinquish responsibility for PR, IR, stock market relations and for
some international business development work.
During the transitional period before a new Chief Executive Officer is in post
Tim Yeo, the Company's Non-Executive Chairman, will be responsible for these
functions and will be designated Executive Chairman.
Tim Yeo, Chairman of Powerhouse Energy Group said:
"David Ryan has rendered outstanding service to Powerhouse during his time as
Chief Executive and overseen enormous progress for which I am very grateful.
The board is very pleased that he will be continuing as a consultant after he
steps down as CEO to help us deliver the Protos plant. In addition to driving
this project forward David will spend the next seven months building the
executive management team which will complete Powerhouse's transition to a
fully operational company. We look forward to welcoming a new Chief Executive
Officer in due course."
David Ryan, Chief Executive Officer, said:
"Powerhouse is at a critical stage of its development, we are a company poised
for growth in the next decade. I believe that putting the team in place for
that delivery during the project in coming months will have the benefit of
providing them with the delivery experiences to guide future decisions. My
challenge will be to concentrate on the key issues to deliver an operating
process to specification and to nurture a younger team to deliver growth for
the next decade."
-ENDS-
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/Zoe Alexander
Ikon Associates (Media enquiries) Tel: +44 (0) 1483 271291
Adrian Shaw Mob: +44 (0) 7979 900733
SistersmithPR (Media enquiries)
Becca Smith
Mob: +447766522305
Notes for 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 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 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
END
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