TPI provides its latest research note on PowerHouse Energy Group Plc (PHE.L)

Powerhouse has signed a binding exclusivity agreement (the “PGH Exclusivity Agreement”) for deployment of its technology in Poland, Greece and Hungary with its independent agent, Hydrogen Utopia International plc (“HUI”).

This important step follows the non-legally binding heads of terms (‘HoT’) reached with HUI that were announced for Poland on 12 November 2020, followed by Greece and Hungary on 10 May 2021. It anticipates significant opportunity for deployment of DMG® technology going forward.

More information about HUI’s corporate mission to create such a project pipeline on the European Continent through its securing of funding from and partnering with states, regional authorities and the private sector in targeted regions, potentially also including various partners with whom it will be working, is expected to be published in due course.

With 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 the technology’s first application might be expected to commence before year end with activity levels moving into a much higher gear thereafter.

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We would draw your attention to the various disclaimers in the document both at the beginning and at the end of the note. Retail clients (as defined by the rules of the FCA) must not rely on the research document. In particular you should note that the research document is a non-independent marketing communication. The analyst who has prepared the research is aware that TPI provides research to PowerHouse Energy Group Plc. Accordingly the research has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibitions on dealing ahead of its dissemination.

The information in the document is published solely for information purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. The material contained in the document is general information intended for recipients who understand the risks associated with equity investment in smaller companies. It does not constitute a personal recommendation as defined by the FCA or take into account the particular investment objectives, financial situation or needs of individual investors nor provide any indication as to whether an investment, a course of action or the associated risks are suitable for the recipient.

Copyright © 2021 Turner Pope Investments (TPI) Limited, all rights reserved.

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