5 June 2017
PowerHouse Energy Group Plc
(“PowerHouse”, or the “Company”)
PHE Collaboration
Agreement of up to £500,000
PowerHouse Energy Group Plc (AIM: PHE), the company focused on
ultra high temperature gasification waste to energy systems, and
the creation of Distributed Modular Gasification© (DMG),
is delighted to announce a collaboration agreement with a UK
partner involved in the development of energy and waste
projects.
Subject to achieving certain performance milestones of the
G3-UHt demonstration unit sited at Thornton Science Park and to
entering into an option to lease land to site the units, the
partner has committed two tranches of funding of up to
£500,000 in aggregate to meet the cost of preparing and
funding applications for planning permission and environmental
permits of the initial demonstration unit and first five PHE
Waste-to-Energy G3-UHt systems.
The agreement will require PowerHouse to supply five systems at
locations of the partners' choosing on a prioritised basis, based
upon the completion of UK Certifications and demonstration of the
G3-UHt unit in active operation.
Keith Allaun, Executive Chairman
of PowerHouse, said: “It is gratifying and reassuring to have
attracted a significant and large corporate partner to work with
PHE and Waste2tricity Ltd in rolling out Distributed Modular
Gasification© in the UK. DMG systems allow for the
environmentally responsible conversion of waste into electricity
and the creation of distributed hydrogen for commercial uses. This
event marks a turning point in the commercial development of the
Company. Our engineering team continues to meet its objectives and
we look forward to the public demonstration of the G3-UHt system in
the coming period."
For more information, contact:
PowerHouse Energy Group
plc
Keith Allaun, Executive Chairman |
Tel: +44 (0) 203 368 6399 |
WH Ireland Limited (Nominated
Adviser)
James Joyce / James Bavister |
Tel: +44 (0) 207 220 1666 |
Turner Pope Investments Ltd
(Joint Broker)
Ben Turner / James Pope |
Tel: +44 (0) 203 621 4120 |
Smaller Company Capital Limited
(Joint Broker)
Jeremy Woodgate |
Tel: +44 (0) 203 651 2910 |
IFC Advisory (Financial PR &
IR)
Tim Metcalfe / Miles Nolan |
Tel: +44 (0) 203 053 8671 |
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About PowerHouse Energy
PowerHouse is the holding company of the G3-UHt Ultra High
Temperature Gasification Waste-to-Energy system, and the creator of
Distributed Modular Gasification© (DMG). The Company is
focused on technologies to enable energy recovery from municipal
waste streams that would otherwise be directed to landfills and
incinerators; or from renewable and alternative fuels such as
biomass, tyres, and plastics to create syngas for power generation,
high-quality hydrogen, or potentially reformed into liquid fuels
for transportation. DMG allows for easy, economical, deployment and
scaling of an environmentally sound solution to the growing
challenges of waste elimination, electricity demand, and
distributed hydrogen production.
PowerHouse is quoted on the London Stock Exchange's AIM Market.
The Company is incorporated in the United
Kingdom.
For more information see www.powerhouseenenergy.net