Powerhouse Enrgy Grp Heads of Terms agreed for licence of DMG technology
November 12 2020 - 1:00AM
UK Regulatory
TIDMPHE
12th November 2020
Powerhouse Energy Group plc
("Powerhouse" or the "Company")
Heads of Terms agreed for licence of DMG technology in Poland
Powerhouse Energy Group plc (AIM: PHE), the UK technology company
commercialising hydrogen production from waste plastic, is pleased to announce
that yesterday (11.11.2020) it signed non-binding Heads of Terms with Hydrogen
Utopia International Limited (HUI) with a view to granting HUI an exclusive
non-transferable licence for the application of its DMG® technology in Poland.
The use of this technology, which is designed to convert waste plastic into a
syngas and/or hydrogen, will be subject to a formal agreement being reached
between Powerhouse and HUI.
Tim Yeo, Chairman of Powerhouse Energy Group, said:
"We are delighted to have signed Heads of Terms with HUI. Powerhouse look
forward to working with HUI on the potential use of our DMG technology being
rolled out in Poland."
Aleksandra Binkowska, Founder of HUI, said:
"It is a privilege and honour for HUI to enter into heads of terms in relation
to rights to the technology of Powerhouse as the first company on the
Continent. At HUI we believe that the DMG System is the one that will help save
the world from unrecyclable plastic and we are thrilled that Poland will lead
the way in creating low cost hydrogen and we hope that other countries will
take our lead. On behalf of HUI I would like to thank the Board of Powerhouse
for this opportunity and partnership."
Following this signing HUI paid Powerhouse a non-refundable deposit of EUR
100,000.
More information about HUI's plans for the rollout of the technology in Poland
and the partners with whom it will be working in Poland will be published in
due course.
-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/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
About Hydrogen Utopia International
Hydrogen Utopia International was founded in 2020 by Aleksandra Binkowska with
the aim to turn Poland and the EU to net positive through using unrecyclable
plastic and transforming it into low cost hydrogen and electricity. The UK
based technology company is actively working with the EU to gain funding and
subsidies for the first waste to energy DMG plant in Konin, Poland.
https://www.hydrogenutopia.eu/
END
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