Powerhouse Enrgy Grp AFC Fuel Cell Order
March 06 2017 - 2:16AM
UK Regulatory
TIDMPHE
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 Tel: +44 (0) 203 368 6399
Keith Allaun, Executive Chairman
WH Ireland Limited (Nominated Adviser) Tel: +44 (0) 207 220 1666
James Joyce / James Bavister
Turner Pope Investments Ltd (Joint Broker) Tel: +44 (0) 203 621 4120
Ben Turner / James Pope
Smaller Company Capital Limited (Joint Broker) Tel: +44 (0) 203 651 2910
Jeremy Woodgate
IFC Advisory (Financial PR & IR) Tel: +44 (0) 203 053 8671
Tim Metcalfe / Graham Herring / Heather Armstrong /
Miles Nolan
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
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