6 March 2017
PowerHouse Energy Group
plc
(“PowerHouse” or the “Company”)
AFC Fuel Cell
Order
PowerHouse is pleased to announce that it has advised AFC Energy
plc (“AFC”) that it wishes to take delivery of a small scale fuel
cell system it ordered in April
2014.
As announced on 4 April 2014 the
Company made a deposit payment to AFC at that time.
Acceptance of delivery had been delayed by PowerHouse in order to
complete the engineering, design, construction, and testing of the
Company’s new G3-UHt ultra-high temperature gasification system. As
announced on 24 February 2017, the
G3-UHt demonstration unit is anticipated for delivery in late March
to the Thornton Science Park,
University of Chester, for re-commissioning and additional
testing of feedstock capable of generating a rich stream of
hydrogen. In addition to generating a hydrogen-rich stream of
syngas, the Distributed Modular Gasification© G3-UHt
system is capable of distributed waste elimination, and distributed
power creation through standard, conventional means.
Shortly after re-commissioning, the Company anticipates
commencement of the design and engineering work required to
construct the first commercially operating 25 tonne per day system.
PowerHouse is in active negotiations with Peel Environmental to
site that first commercial unit at its Protos development, adjacent
to the University of Chester Thornton Science Park, where the
Company will be taking offices.
The anticipated delivery time for the AFC fuel cell is expected
to be approximately eight months. Upon delivery of the fuel cell,
PowerHouse anticipates having a high quality hydrogen stream (a
component of the syngas produced) from the G3-UHt to successfully
integrate with the fuel cell, to provide production of electrical
power. Receipt of the fuel cell is contingent upon the G3-UHt unit
being capable of producing a hydrogen stream compatible with the
fuel cell. In accordance with the terms announced on 4 April 2014 the final payment for the system
will be due to AFC within 90 days of the system’s delivery to the
Thornton Science Park.
Keith Allaun, Executive
Chairman of PowerHouse, said, “AFC has demonstrated its
commitment to developing the “Hydrogen Economy”, and we’ve seen
tremendous progress on the part of both companies over the past two
years. Now is the time, and the opportunity, to demonstrate our
ability to use Distributed Modular Gasification© to
deliver hydrogen where, and when, it’s needed. AFC’s recent
successes in Germany and elsewhere
reaffirm our decision to work closely with them in the future. The
distributed hydrogen economy depends upon two things: the expansion
of the fuel cell market, and a consistent ability to deliver
inexpensive hydrogen. We are confident that our G3-UHt unit will do
its part to drive this environmental imperative.”
Adam Bond, Chief Executive
Officer of AFC Energy, said, “Following a relationship that
spans three years, we are very pleased that both AFC Energy and
Powerhouse are now in a position to move forward with plans to
demonstrate the technical integration of Powerhouse’s G3-UHt unit
and AFC Energy’s small scale systems for the first time. The
successful integration of these two technologies could create
significant new markets in clean distributed power generation and
continue to grow the increasing prominence of the hydrogen economy
in the UK and overseas. We look forward to working with Powerhouse
in delivering this exciting project.”
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 / Graham Herring / Heather Armstrong / 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 systems and the creator of
Distributed Modular Gasification© for distributed waste
elimination, distributed electrical generation, and distributed
hydrogen production.
The Company is focussed 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. These waste to
energy systems aim to provide the “best solution” to the on-site
energy market.
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