Change of Directorate
Powerhouse Energy Group plc (AIM: PHE), the UK technology company commercialising hydrogen production from waste plastic, announces that after almost three years in the role of Chairman of the Board and a successful fund raise of £5 million, Dr Cameron Davies is handing over the Chair to Tim Yeo, a fellow non-executive director and deputy chair, with immediate effect. Dr Davies will continue to serve shareholders as a non-executive director of the Company.
Tim Yeo, Chairman of Powerhouse, said the following:
“On behalf of the whole Board and all our shareholders I would like to express my warmest thanks to Cameron for his dedication and hard work as Chairman. We are all pleased that we will still have the benefit of his wise counsel as he will continue as a non-executive director.
“I am honoured to be appointed Chairman of Powerhouse as it stands on the threshold of a new era in its history with the initiation of the Protos application of our DMG technology. Our urgent task now is to start building our first commercial-scale plant and bring forward the day when the world can benefit from the huge environmental benefits which our technology will deliver.”
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 H2, 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, PHE 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.net
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