POWERHOUSE ENERGY ESTABLISHES AN ENVIRONMENTAL SOCIAL AND GOVERNANCE COMMITTEE
Powerhouse Energy Group plc (AIM: PHE) (“Powerhouse” or the “Company”), the sustainable hydrogen company pioneering hydrogen production from waste plastic, is pleased to announce the establishment of an Environmental Social and Governance Committee (ESG).
The ESG Committee met for the first time yesterday with an aim to integrate sustainability best practice into all decision-making and support the board in developing their technology that could help to accelerate the UK’s clean energy transition.
The ESG Committee will ensure that Powerhouse promotes achievement of the UN Sustainable Development Goals throughout its business. The ESG Committee will scrutinise particularly closely the greenhouse gas emissions caused by Powerhouse’s own activities as well as those of its suppliers and customers with the aim of achieving continuous improvement in performance.
The ESG Committee is chaired by Non-Executive Director, Kirsty Gogan who has more than 15 years’ experience as a senior advisor to Government on climate and energy policy and is co-founder of Energy for Humanity (EFH), an environmental NGO focused on large scale deep decarbonisation.
Members of the ESG Committee include Powerhouse Chairman, Tim Yeo who brings his experience as Chair of the Getlink SE Corporate Social Responsibility and Ethics Committee, Mark Berry, independent non-executive director and current Powerhouse Chief Executive, Dave Ryan.
Chair of Powerhouse’s ESG Committee, Kirsty Gogan, said: “The creation of this Committee shows Powerhouse’s commitment to ensuring a sustainable and ethical best practice in all its work. As a business which is helping accelerate the clean energy transition, the welfare of our environment and the impact of climate change are issues the business is heavily engaged with and hope to support. Powerhouse technology aims to work at a local level, therefore engaging with communities will be a vital part of this Committee’s work. The Committee members bring an array of expertise which will benefit the Company in ensuring sustainable best practice.”
About Powerhouse Energy Group plc
Powerhouse, the sustainable hydrogen company, 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 GBP500,000 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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