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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.
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
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
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/