Powerhouse Enrgy Grp Project update
03 June 2021 - 4:00PM
UK Regulatory
TIDMPHE
3rd June 2021
Powerhouse Energy Group plc
("Powerhouse" or the "Company")
Project Update
Powerhouse Energy Group plc (AIM: PHE), the UK technology company
commercialising hydrogen production from non-recyclable waste plastic, is
pleased to announce that it has ordered the critical key alloy material to be
used in the manufacture for the DMG Advanced Thermal Conversion Technology
process. It is to be installed at the first plastic to hydrogen facility which
will be located at Peel NRE's - part of Peel L&P - strategic energy and
resource hub Protos in Ellesmere Port.
The alloy material has been ordered by Protos Plastics to Hydrogen No. 1
Limited, the Peel NRE Special Purpose Vehicle (the "SPV"). The procurement was
funded from the recent loan agreement from PHE which is set to provide up to £
3.8 million to the SPV.
The alloy material has the necessary high temperature corrosion resistance
whilst providing the strength and lifetime durability necessary for application
in the Thermal Conversion Chamber (TCC). The material was selected after four
years of research by the Powerhouse team our suppliers and material specialist
consultants.
With this commencement of the procurement process, the project development
managers King Associates are also engaging with all the long lead suppliers to
finalise contracts for other critical components.
David Ryan, Chief Executive Officer of Powerhouse Energy Group, said:
"Over four years of the technology development team's work has gone into this
procurement decision. I would like to thank all involved, including Peel NRE
for their commitment and I look forward to seeing the material worked into the
Protos chamber fabrication later in the year."
Myles Kitcher, Non-Executive Director of Powerhouse and Managing Director of
Peel NRE, part of Peel L&P, said:
"The material on order sets the path for delivery of this important project for
the creation of hydrogen from waste plastic in the UK."
-ENDS-
For more information, contact:
Powerhouse Energy Group plc Tel: +44 (0) 203 368
6399
Tim Yeo, Executive Chairman
WH Ireland Limited (Nominated Adviser) Tel: +44 (0) 207 220
1666
James Joyce/ Lydia Zychowska
Turner Pope Investments (TPI) Ltd Tel: +44 (0) 203 657
(Joint Broker) 0050
Andrew Thacker
SisterSmith PR (media enquiries)
Becca Smith Mob: +44 (0) 7766522305
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 Peel NRE - Re-energising Natural Resources
Peel NRE, part of Peel L&P, is at the heart of the nation's activity around
clean growth and the circular economy - helping the UK achieve net zero by 2050
and supporting regions in their actions to achieve climate emergency targets.
We reuse, repurpose and re-energise natural resources to develop and maintain
vital infrastructure across the UK and are experts in renewable energies,
district heating, waste to value, water management, materials management and
electric vehicle charging.
Our Protos Cheshire energy and resource hub leads the way in low carbon energy
and waste management through innovative technologies including the UK's first
plastic-to-hydrogen facility, a 50MW windfarm, a 26MW biomass plant, a 49MW
energy from waste plant in construction and a plastic park blueprint to
revolutionise plastic recycling nationwide.
More about Peel NRE at www.peellandp.co.uk/peelnre
END
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