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.
@PowerHouseEG will be in focus this week after it emerged that its business partner, Hydrogen Utopia International (HUI), is close to signing a deal with German engineering giant Linde to roll out energy plants across Europe #PHEhttps://t.co/HIw32QA2IF via @thisismoney pic.twitter.com/dCYff47Xo1
— ShareTalkNews™ (@ShareTalkNews) September 5, 2021
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.
For more information, contact:
Powerhouse Energy Group plc Tel: +44 (0) 203 368 6399
James Greenstreet, Non-Executive Chairman
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.
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