Powerhouse Enrgy Grp Comment re press speculation

 
TIDMPHE 
 
6th September 2021 
 
                         Powerhouse Energy Group plc 
 
                        ("Powerhouse" or the "Company") 
 
                     Comment regarding Press Speculation 
 
Powerhouse Energy Group plc (AIM: PHE), the UK technology company 
commercialising hydrogen production from waste plastic, has noted the comments 
in the UK press at the weekend in relation to a potential agreement between DMG 
® licensee Hydrogen Utopia International PLC ("HUI") and Linde. 
 
Linde has finalised a technical feasibility evaluation to deploy the syngas 
clean-up and hydrogen extraction of Powerhouse Energy DMG® technology. HUI and 
Linde are in discussions to enter into an agreement to develop a plant in 
Konin, Poland which would use Powerhouse's technology. There can be no 
guarantee such an agreement would be finalised and any agreement regarding 
building a facility would be subject to material conditions including 
financing, permitting and planning permission. 
 
Powerhouse will update the market with any further developments at the 
appropriate time. 
 
                                    -ENDS- 
 
For more information, contact: 
 
Powerhouse Energy Group plc             Tel: +44 (0) 203 368 
                                        6399 
 
James Greenstreet, Non-Executive 
Chairman 
 
WH Ireland Limited (Nominated Adviser)  Tel: +44 (0) 207 220 
                                        1666 
 
James Joyce 
 
Turner Pope Investments  (TPI) Ltd      Tel: +44 (0) 203 657 
(Joint Broker)                          0050 
 
Andrew Thacker / James Pope 
 
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 Hydrogen Utopia 
 
Hydrogen Utopia International PLC was founded in 2020 by Aleksandra Binkowska 
and has subsequently received financial backing from a number of high net worth 
investors.  HUI will initially focus its proposed rollout of DMG® technology on 
areas where substantial EU and/or government funded sources of grants and loans 
are available, such as the EU's "Just Transition Fund" which was set up to help 
fossil fuel dependent communities such as Konin in Poland transition towards 
climate neutrality, or where substantial private sector backing is accessible. 
 
For more information see www.hydrogenutopia.eu/ 
 
 
 
END

(END) Dow Jones Newswires

September 06, 2021 02:01 ET (06:01 GMT)

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