Announcement regarding development partner update, Hydrogen Utopia International PLC
Powerhouse Energy Group plc (AIM: PHE), the UK technology company commercialising hydrogen production from plastic, notes the announcement made today by its development partner Hydrogen Utopia International PLC regarding an update on its discussions with Mitsubishi Heavy Industries Ltd further to that previously announced on 18 January 2022, a copy of which is repeated below.
For more information, contact:
Powerhouse Energy Group plc Tel: +44 (0) 203 368 6399
James Greenstreet, Non-Executive Chairman
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 or 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.
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