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WKN: A1JJGH ISIN: GB00B4WQVY43 Ticker-Symbol: BT81 
Tradegate
21.04.21
21:58 Uhr
0,067 Euro
+0,001
+2,14 %
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POWERHOUSE ENERGY GROUP PLC - Operational progress update

POWERHOUSE ENERGY GROUP PLC - Operational progress update

PR Newswire

17th December 2020

Powerhouse Energy Group plc

Operational progress update

Powerhouse Energy Group plc (AIM: PHE) ("Powerhouse" or the "Company"), the sustainable hydrogen company pioneering hydrogen production from waste plastic, is pleased to provide an update on operational progress since the AGM held in September 2020.

We are pleased to announce that Peel L&P Environmental ("Peel") has commenced site preparation for the first commercial DMG plant at Protos with initial ground works. Peel has also embarked on phase 2 of infrastructure works at Protos which include the preparation of access roads and laydown areas for the works and utility service installation on Protos Plot 10b where the DMG plant will be installed.

This site work is ongoing whilst contract and post FEED (Front-End Engineering Design) engineering definition proceeds for the site including:

  • Negotiations with potential construction delivery contractors;
  • Safety system procurement and the implementation of operational safety systems based on a HAZOP (Hazard and Operability Analysis study) study for Powerhouse's DMG process for the Protos application which has been successfully completed by a joint team of Powerhouse, Peel and the engineering consultants ;
  • Provision of operational definition material for a future Operations & Maintenance contract tender; and
  • Further refinement to the construction measures to be applied in line with modular build strategy.

Powerhouse has successfully recruited qualified and experienced operational and technical staff this quarter, building the team in engineering with senior process engineers, application engineers and support staff joining the team to be based at the Thornton research and development centre, supporting further technical advancements , Protos project activites and new business development.

To facilitate expansion of the DMG technology, Powerhouse has developed a design for a solution that can export larger volumes of hydrogen, broadening the scope for Peel to engage with smaller fleet consumers of hydrogen who require supply to their own or third party off-site locations. In this context, Peel has been progressing two sites through pre-planning engineering, to incorporate these new DMG technology improvements. Consultation with the local council authorities is expected to be initiated shortly.

Powerhouse has welcomed the UK Government's recent ten point plan for a green industrial revolution, which highlighted the need for hydrogen production in order to reach net zero and reduce carbon emissions.

Commenting on progress, Tim Yeo, Executive Chairman of Powerhouse Energy, said:

"We welcome the commencement of activity at Protos with clearance of the site where the first commercial scale plant will be built, which will help accelerate the UK's clean energy transition. Powerhouse is getting down to business ahead of intense activity expected in 2021 as demand for our waste plastic to hydrogen technology gains rapid momentum. The Company has strengthened the board and appointed a number of key experts to our operational team. I am looking forward to the next year as the opportunity for Powerhouse continues to grow and our clean energy technology can become part of the solution to air pollution and waste plastic".

ENDS

For more information, contact:

Powerhouse Energy Group plcTel: +44 (0) 203 368 6399
Tim Yeo, Executive Chairman
WH Ireland Limited (Nominated Adviser)Tel: +44 (0) 207 220 1666
James Joyce / Lydia Zychowska
Turner Pope Investments Ltd (Joint Broker)Tel: +44 (0) 203 657 0050
Andrew Thacker
Ikon Associates (media enquiries)Tel: +44 (0) 1483 271291
Adrian Shaw

SisterSmith PR (media enquiries)
Becca Smith
Mob: +44 (0) 7979 900733

Mob: +44 (0) 7766522305

Notes for editors:

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.

For more information see www.powerhouseenergy.net

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© 2020 PR Newswire
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