Powerhouse Enrgy Grp Comment re press speculation
September 06 2021 - 1:01AM
UK Regulatory
TIDMPHE
6th September 2021
Powerhouse Energy Group plc
("Powerhouse" or the "Company")
Comment regarding Press Speculation
Powerhouse Energy Group plc (AIM: PHE), the UK technology company
commercialising hydrogen production from waste plastic, has noted the comments
in the UK press at the weekend in relation to a potential agreement between DMG
® licensee Hydrogen Utopia International PLC ("HUI") and Linde.
Linde has finalised a technical feasibility evaluation to deploy the syngas
clean-up and hydrogen extraction of Powerhouse Energy DMG® technology. HUI and
Linde are in discussions to enter into an agreement to develop a plant in
Konin, Poland which would use Powerhouse's technology. There can be no
guarantee such an agreement would be finalised and any agreement regarding
building a facility would be subject to material conditions including
financing, permitting and planning permission.
Powerhouse will update the market with any further developments at the
appropriate time.
-ENDS-
For more information, contact:
Powerhouse Energy Group plc Tel: +44 (0) 203 368
6399
James Greenstreet, Non-Executive
Chairman
WH Ireland Limited (Nominated Adviser) Tel: +44 (0) 207 220
1666
James Joyce
Turner Pope Investments (TPI) Ltd Tel: +44 (0) 203 657
(Joint Broker) 0050
Andrew Thacker / James Pope
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/
END
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