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Powerhouse Energy Group plc
("Powerhouse" or the "Company")
27 September 2021
Change of Directorate
Powerhouse Energy Group plc (AIM: PHE), the UK technology company commercialising hydrogen production from plastic, announces that Allan Vlah has informed the board that he wishes to step down as Non-Executive Director of the Company on 31 December 2021 to concentrate on his other business interests.
The Company also announces that it has appointed Keith Riley, aged 72, as a Non-Executive Director with immediate effect. Keith Riley is currently proprietor and Chief Executive Officer of Vismundi Limited, a consultancy company providing services to the resources and waste management industry. Prior to that, between 2005 and 2012 he worked for Veolia Environmental Services plc as Group Managing Director for Technology and as Managing Director for Group Technical Services.
Over the course of his career Keith has worked with a number of specialist waste and resource management companies and most recently has been Non-Executive Director of Waste2tricity Limited. He continues to be a Partner of BH Energy Gap LLP on behalf of Vismundi, which develops projects in the renewables sector and raises the finance to implement them.
On joining the Board of Powerhouse Keith Riley said: “The DMG technology being developed by Powerhouse addresses two important issues – the need for energy free of climate change impacts, and the excess of plastic waste. I am pleased to be able to join the Board to help further the business of Powerhouse in addressing these two issues.”
James Greenstreet said “On behalf of the board I would like to thank Allan for his invaluable contribution over the last year and wish him well in his future ventures. I am delighted to welcome Keith who brings a wealth of relevant experience to the Board and very much look forward to working with him as we move Powerhouse forward.”
Further regulatory disclosures:
Other than as disclosed below, there are no further disclosures to be made in accordance with AIM Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies:
Name: Keith Riley
Keith Riley is, or has during the last five years been, a director or partner of the following companies and partnerships:
Vismundi Universal Ltd
BH Energygap (BINN) Ltd
BH Energygap (Bradford) Ltd
BH Energygap (Walsall) Ltd
BH Energygap (Doncaster) Ltd
The Aerobic Bin Co Ltd
Resource Parks Ltd
Keith Riley holds 12,128,986 ordinary shares in the Company.
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 / Megan Liddell
Turner Pope Investments (TPI) Ltd (Joint Broker)
Tel: +44 (0) 203 657 0050
Andrew Thacker / James Pope
SisterSmith PR (media enquiries)
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