7 October
2021
Powerhouse Energy
Group plc
("Powerhouse" or
the "Company")
Collaboration agreement to
deploy DMG® technology in territories
outside the UK signed with Hydrogen Utopia
Powerhouse Energy Group plc (AIM: PHE), the UK technology
company commercialising hydrogen production from waste plastic, is
pleased to announce that it has entered into a binding
collaboration agreement (the “Collaboration Agreement”) with HU2021
International UK Limited (“HUI”), a wholly owned subsidiary of
Hydrogen Utopia International PLC, to market the deployment of DMG®
technology in territories outside the UK.
Under the Collaboration Agreement, Powerhouse and HUI have
agreed to pursue the development and implementation of
distributed and modular production of hydrogen and power from waste
materials on a commercial basis to the mutual benefit of each of
the parties in Poland,
Greece and Hungary (where HUI has been granted
exclusivity) and in other territories outside the UK on a
non-exclusive basis. Powerhouse has also agreed that it may grant
HUI exclusivity over further territories outside the UK subject to
the agreement of a new exclusivity agreement for the relevant
territory. Proposed projects presented to Powerhouse outside the
territories in which HUI has been granted exclusivity can be
accepted or declined on a project-by-project basis, with fees being
generated for Powerhouse by IP licence agreements to be agreed at
the time and also, if appropriate, exclusivity agreements.
The Collaboration Agreement creates a framework for the
marketing and development of Powerhouse’s DMG® technology, the
use of Powerhouse’s design materials to identify projects and the
relevant intellectual property licences necessary to facilitate the
development and implementation of projects. The Collaboration
Agreement also provides for Powerhouse to provide services where
requested on payment of service fees to assist in developing and
implementing projects.
James
Greenstreet, Non-Executive Chairman of Powerhouse Energy
Group, said:
“Powerhouse is pleased to sign this collaboration agreement with
HUI which is championing our technology across Europe and potentially the rest of the world.
This agreement provides a framework for us to move forward with
projects with Hydrogen Utopia and will help to deliver our
long-term vision for DMG® technology to be deployed
internationally, helping the world transition to clean energy
whilst providing a solution to end-of-life plastic”.
Aleksandra
Binkowska, CEO of Hydrogen Utopia International PLC,
said:
"We are delighted to have formalised Hydrogen Utopia’s
collaboration agreement with Powerhouse for all territories outside
the UK. We continue to use our networks and relationships across
Europe and the rest of the world
to look to secure project approvals, finance and technical
expertise to facilitate the deployment of DMG® technology. Our
mission remains to accelerate the development of a circular and net
zero carbon economy in Europe and
potentially the rest of the world.”
More information about plans for the rollout of the DMG®
technology will be announced in due course.
-ENDS-
For more information,
contact:
Powerhouse Energy Group plc |
Tel: +44 (0) 203 368 6399 |
James Greenstreet, Non-Executive
Chairman |
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|
|
WH Ireland Limited (Nominated Adviser) |
Tel: +44 (0) 207 220 1666 |
James Joyce/ Megan Liddell |
|
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|
Turner Pope Investments (TPI) Ltd (Joint
Broker) |
Tel: +44 (0) 203 657 0050 |
Andrew Thacker / James Pope |
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|
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 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 £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
About Hydrogen Utopia
Hydrogen Utopia International PLC was founded in 2020 by
Aleksandra Binkowska and has
subsequently received financial backing from a number of high net
worth investors. HUI will initially focus its proposed
rollout of DMG® technology on areas where substantial EU
and/or government funded sources of grants and loans are available,
such as the EU’s “Just Transition Fund” which was set up to
help fossil fuel dependent communities such as Konin in
Poland transition towards climate
neutrality, or where substantial private sector backing is
accessible.
For more information see www.hydrogenutopia.eu/