POWERHOUSE ENERGY GROUP PLC - Operational Update
PR Newswire
London, October 18
PowerHouse Energy Group plc
("PowerHouse" or the "Company")
Operational Update
PowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering hydrogen production from waste plastic and used tyres and developer of the DMG System continues to seek additional commercialistion opportunities for its technology.
In conjunction with its Project Development Partner, Waste2Tricity, Ltd("Waste2Tricity") , PHE has met with 2 substantial waste suppliers to advance negotiations, supply detailed technical information, discuss detailed operational matters, and explore realistic deployment opportunities interfacing with existing installations. Both negotiations have the possibility to lead to multiple DMG System deployments, however at this stage there is no assurance that either of these, or any other, negotiations that Waste2Tricity are engaged in on behalf of PHE will come to fruition.
PHE has also engaged with, and have provided significant technical detail to, a major UK-based, multi-national EPC (engineering, procurement, and construction) company to support Waste2Tricity's negotiations on behalf of both itself, and PHE, to obtain a system "wrap" and guarantee on the first deployment of the DMG System and that these negotiations are ongoing. However, as previously stated, these, and other negotiations, may not result in reaching a satisfactory commercial agreement.
Per our joint-development agreement of January 2017, PowerHouse Energy Group continues to support Waste2Tricity's efforts in building a pipeline of commercially viable potential projects.
PowerHouse yesterday announced the successful receipt of the "Statement of Feasibility" from DNV-GL under the RP-A203 Technical Assessment protocol.
For more information, contact:
PowerHouse Energy Group plc Tel: +44 (0) 203 368 6399
Keith Allaun, Chief Executive Officer
WH Ireland Limited (Nominated Adviser) Tel: +44 (0) 207 220 1666
James Joyce / Chris Viggor
Turner Pope Investments Ltd (Joint Broker) Tel: +44 (0) 203 621 4120
Ben Turner / James Pope
Ikon Associates(Media enquiries) Tel: +44 (0) 1483 271291
Adrian Shaw Mob: +44 (0) 7979 900733
About PowerHouse Energy
PowerHouse Energy has developed a proprietary process technology called DMG which can use waste plastic end-of-life-tyres and other waste streams to convert them into cost efficient energy in the form of electricity and ultra clean hydrogen gas fuel for use in cars and commercial vehicles (FCEV: Fuel Cell Electric Vehicles) and other industrial uses. The PowerHouse technology is the world's first proven, modular hydrogen from waste (HfW) process.
The PowerHouse DMG process can generate in excess of 1 tonne of road-fuel quality hydrogen, and in excess of 28 mW/h of exportable electricity per day.
The PHE process produces low levels of safe residues and requires a small operating footprint, making it suitable for deployment at enterprise and community level.
PowerHouse is quoted on the London Stock Exchange's AIM Market. The Company is incorporated in the United Kingdom.
For more information see www.powerhouseenergy.net
About Waste2tricity, Ltd
Established in 2008, Waste2Tricity is a structured solutions provider to the energy-from-waste (EfW) sector, an industry supplying increasing amounts of electricity using feedstock diverted from landfill. Waste2Tricity works with clients and partners to develop, fund and support EfW deployment projects that use proven technology, are profitable and progressive. In the case of PHE these projects will use high temperature thermal conversion and ultra-efficient gas engines to convert waste plastic to energy and in the future can produce hydrogen to support the growth of the hydrogen economy.
For more information see www.waste2tricity.com.
About DNV GL
Today DNV GL is a globally leading quality assurance and risk management company. With 100,000 customers across the maritime, oil and gas, energy, food and healthcare industries, as well as a range of other sectors, DNV GL helps companies to become safer, smarter and greener.
Driven by our purpose of safeguarding life, property and the environment, DNV GL enables organizations to advance the safety and sustainability of their business. Operating in more than 100 countries, our professionals are dedicated to helping our customers in the maritime, oil & gas, energy and other industries to make the world safer, smarter and greener.
In the power and renewables industry
DNV GL delivers world-renowned testing and advisory services to the energy value chain including renewables and energy efficiency. Our expertise spans onshore and offshore wind power, solar, conventional generation, transmission and distribution, smart grids, and sustainable energy use, as well as energy markets and regulations. Our experts support customers around the globe in delivering a safe, reliable, efficient, and sustainable energy supply.
For more information see www.dnvgl.com
