Hydrogen Utopia International plc (‘HUI’), Powerhouse’s independent agent for its Distributed Modular Gasification (‘DMG®‘) technology, has announced a potentially far-reaching agreement with Linde AG (‘Linde’, NYSE: LIN).
Coming very shortly after having established a binding exclusivity agreement (the ‘PGH Exclusivity Agreement’) for deployment in Poland, Greece and Hungary, a press release from HUI confirms Linde has finalised the technical feasibility evaluation for a project in Konin, Poland which, when completed, will contain as many as ten DMG® units in one location, helping the city, which was originally built around coal, make a clean energy transition. Representing a significant step forward in Powerhouse’s ambitions to initiate an international roll-out of its technology, being able to partner with what is arguably the global leader in production, processing, storage, distribution and transition to hydrogen, adds considerably to international credibility for its technology to foster decentralised hydrogen utilisation.
Going forward, its relationship and dependence on HUI might be expected to deepen still further. Given that this comes on the back of Group operations having performed strongly during the first half of 2021 despite the impact of the lockdown, and with Peel’s financial closure of the Protos project anticipated during Q4 2021, execution of DMG®’s first application might be expected to commence before year end with activity levels moving into a much higher gear shortly thereafter.
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