18
November 2024
Powerhouse Energy Group Plc
("Powerhouse", "PHE" or the "Company")
Award of
FEED (Front End Engineering Design) to Engsolve
Powerhouse Energy Group Plc (AIM:
PHE), a company pioneering integrated technology that converts
non-recyclable waste into low carbon energy together with a revenue generating engineering consulting
division (Engsolve), announces that National Hydrogen Ltd of Australia ("National
H2"), with whom PHE has a five-year licensing and royalties
framework agreement, has awarded Engsolve the Front-End Engineering
Design (FEED) study contract for its Western Australia
project.
The contract value of Three Hundred
and Fifty Thousand pounds (£350,000) is fully payable by National
H2, data gathering will commence in December 2024 with the FEED
scheduled to begin in January 2025
This award follows National H2
securing a two-hectare site from the Western Australian Government
within the Heavy Industrial Estate just south of Perth in East
Rockingham, Western Australia. This site is strategically located
for both electricity and hydrogen off-takers and is large enough to
accommodate two Powerhouse DMG plants.
The commencement of the FEED study
will allow a planning and permitting application to be submitted by
National H2 as the required data is generated.
National H2 plans to develop
projects in Australia, Italy, Switzerland, and Hong Kong using the
Company's technology, demonstrating PHE's growing global reputation
and commitment to driving the development of sustainable energy
solutions.
Paul Emmitt, Chief Executive
Officer, commented:
"I
am very pleased that Engsolve has been awarded this order for the
FEED study. This is a key milestone for both PHE and National
Hydrogen and will secure revenues for Engsolve, and thus
Powerhouse, whilst also further building our relationship with
National Hydrogen. Given the agreement that we have with National
Hydrogen, we believe that 2025 will be an exciting time for both
companies as we not only look to progress the Western Australia
project, but also look to develop other new
opportunities."
The information contained within
this announcement is deemed to constitute inside information as
stipulated under the retained EU law version of the Market Abuse
Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law
by virtue of the European Union (Withdrawal) Act 2018, as amended.
The information is disclosed in accordance with the Company's
obligations under Article 17 of the UK MAR. Upon the publication of
this announcement, this inside information is now considered to be
in the public domain.
For
more information, contact:
Powerhouse Energy Group
Plc
Paul Emmitt, CEO
+44 (0) 203 368 6399
Strand Hanson Limited (Nominated
& Financial Adviser)
Ritchie Balmer / James Harris / Rob
Patrick
+44 (0) 207 409 3494
SP Angel Corporate Finance LLP
(Broker)
Stuart Gledhill / Adam Cowl
+44 (0) 20 3470
0470
Tavistock (Financial PR)
Simon Hudson / Nick Elwes / Saskia
Sizen
+44 (0) 207 920 3150
powerhouse@tavistock.co.uk
About Powerhouse Energy Group Plc
Powerhouse has developed a process
technology which can utilise waste plastic, end-of-life-tyres, and
other waste streams to convert them efficiently and economically
into syngas from which valuable products such as chemical
precursors, hydrogen, electricity, heat and other industrial
products may be derived. PHE's process produces low levels of safe
residues and requires a small operating footprint, making it
suitable for deployment at enterprise and community
level.
PHE also incorporates Engsolve Ltd,
which is a revenue generating business offering Engineering
Services across all sectors, with speciality services in the
development of new technologies and clean energy.
For more information see
www.phegroup.com
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About National Hydrogen
Ltd:
National H2 is a renowned company
dedicated to advancing the hydrogen sector. Through strategic
partnerships and cutting-edge projects, National H2 plays a vital
role in accelerating the adoption of hydrogen as a clean energy
source, contributing to a sustainable and secure future.
For more information see
www.nationalh2.com.au
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