Powerhouse Energy Group PLC Amended:Waste2Tricity Report in The Sunday Express (8283L)
31 December 2018 - 10:37PM
UK Regulatory
TIDMPHE
RNS Number : 8283L
Powerhouse Energy Group PLC
31 December 2018
The following amendment has been made to the 'Waste2Tricity
Report in The Sunday Examiner' announcement released on 31/12/2018
at 07:38.
The name Sunday Examiner has been amended to Sunday Express
throughout.
All other details remain unchanged.
The full amended text is shown below.
London, 31 December 2018
PowerHouse Energy Group plc
("PowerHouse, "PHE," or the "Company")
Waste2Tricity Report in The Sunday Express
PowerHouse Energy Group plc (AIM: PHE), the UK technology
company pioneering hydrogen production from waste plastic and used
tyres and developer of the DMG(R) System would like to clarify the
reporting regarding ownership of intellectual property relating to
Thermal Conversion Technologies by Waste2Tricity, Ltd by the Sunday
Express on 30 December 2018.
While not mentioning PowerHouse specifically, the Sunday Express
inadvertently reported that Waste2Tricity, Ltd, the UK Project
Development Partner for PowerHouse for a number of distributed
electricity and distributed hydrogen projects within the UK and
elsewhere "has patented a method of heating plastic until it
'gasifies' into hydrogen...."
The actual patents related to the thermal conversion of waste
plastic to hydrogen and electricity have been developed, and are in
the process of being filed, by PowerHouse Energy Group, plc and all
proprietary IP related to the DMG(R) Thermal Conversion Process is
owned by PowerHouse and will be licensed to Waste2Tricity.
This inadvertent error in reporting has resulted in a number of
inquiries regarding the IP position of PowerHouse as it relates to
its DMG(R) System technology. To clarify, Waste2Tricity is a
licensee of PowerHouse Technology and IP and will pay to leverage
that IP to develop projects in a number of geographies including
the UK and Japan. The Sunday Express article further states that
Waste2Tricity has "teamed up with Toyota to open new recycling and
refueling stations...." However, to date, no agreements regarding
the deployment of the DMG(R) Technology for new recycling and
refueling stations have been finalised between the parties.
As announced on 26 November 2018 Waste2Tricity has been leading
discussions with Toyota Tsusho (Toyota) for a number of months. An
extensive review of the DMG(R) technology by Toyota Tsusho's
Chemical Business Development Division is under way subsequent to
PHE having achieved its recent "Statement of Feasibility" by
DNV-GL, a leading provider of technical assurance world-wide.
Toyota Tsusho is one of the 17 members of the Toyota Group. On
its website, Toyota Tsusho is described, "As the Toyota Group's
sole general trading company, we gather information and promote the
development of new business from a global perspective. As
automotive professionals with unique capabilities and know-how, we
strive to lead the Toyota Group in the challenge to develop the
evolution of next-generation mobility to contribute to the
development of both society and the Toyota Group."
For more information, contact:
PowerHouse Energy Group plc Tel: +44 (0) 203 368 6399
Keith Allaun, Chief Executive Officer
WH Ireland Limited (Nominated Adviser) Tel: +44 (0) 207 220 1666
James Joyce / Chris Viggor
Turner Pope Investments Ltd (Joint Broker) Tel: +44 (0) 203 621 4120
Ben Turner / James Pope
Ikon Associates(Media enquiries) Tel: +44 (0) 1483 271291
Adrian Shaw Mob: +44 (0) 7979 900733
About PowerHouse Energy
PowerHouse Energy has developed a proprietary process technology
- DMG(R) - which can utilise waste plastic, end-of-life-tyres, and
other waste streams to efficiently and economically convert them
into EcoSynthesis gas from which valuable products such as chemical
precursors, hydrogen, electricity and other industrial products may
be derived. The PowerHouse technology is one of the world's first
proven, modular, hydrogen from waste (HfW) processes.
The PowerHouse DMG(R) process can generate in excess of 1 tonne
of road-fuel quality H2, and more than 28MW/h of exportable
electricity per day.
The PowerHouse process produces low levels of safe residues and
requires a small operating footprint, making it suitable for
deployment at enterprise and community level.
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.net
About Waste2tricity Ltd
Established in 2008, Waste2Tricity is a structured solutions
provider to the energy-from-waste (EfW) sector, an industry
supplying increasing amounts of electricity using feedstock
diverted from landfill. Waste2Tricity works with clients and
partners to develop, fund and support EfW deployment projects that
use proven technology, are profitable and progressive. In the case
of PHE these projects will use high temperature gasification and
internal combustion engines to efficiently convert waste plastic to
energy and in the future can produce hydrogen to support the growth
of the hydrogen economy.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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