PHE Powerhouse Energy Group Plc

 
TIDMPHE 
 
2nd July 2021 
 
                          Powerhouse Energy Group plc 
 
                        ("Powerhouse" or the "Company") 
 
                          Development Partner Update 
 
Powerhouse Energy Group plc (AIM: PHE), the UK technology company seeking   to 
commercialise hydrogen production from non-recyclable waste plastic, announces 
its partner, Peel NRE, part of Peel L&P, has signed a Letter of Intent to 
supply hydrogen from its planned roll out of plastic to hydrogen facilities to 
Element 2's proposed network of hydrogen refuelling stations. 
 
Peel NRE is Powerhouse's exclusive development partner for the technology in 
the UK 
 
Under the terms of the DMG Development UK Exclusivity Option Agreement between 
Peel NRE and Powerhouse (first announced on 9 March 2020), Peel NRE is 
proposing to develop a hydrogen refuelling station which will take hydrogen 
produced by Powerhouse technology, from the consented plastic to hydrogen 
facility at Protos, Cheshire. 
 
There are also plans to develop a hydrogen refuelling station at Peel NRE's 
planned plastic to hydrogen facility in North Clyde, near Glasgow. 
 
Whilst the Company is very encouraged by these developments it should be noted 
that there is no guarantee the facilities will be completed and that the 
arrangements remain subject to legally binding agreements 
 
Tim Yeo, Executive Chair, said: "We welcome Peel's plans to supply hydrogen to 
Element 2 at Protos with the hydrogen being produced by Powerhouse 
technology.  This would be a significant step in kickstarting the UK's 
infrastructure for the hydrogen economy, helping accelerate the country's clean 
energy transition". 
 
                                    -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  (TPI) Ltd (Joint Tel: +44 (0) 203 657 0050 
Broker) 
 
Andrew Thacker 
 
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 
 
 
 
END 
 
 

(END) Dow Jones Newswires

July 02, 2021 02:08 ET (06:08 GMT)

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