POWERHOUSE ENERGY GROUP PLC - Project update
PR Newswire
London, June 2
3rd June 2021
Powerhouse Energy Group plc
("Powerhouse" or the "Company")
Project Update
Powerhouse Energy Group plc (AIM: PHE), the UK technology company commercialising hydrogen production from non-recyclable waste plastic, is pleased to announce that it has ordered the critical key alloy material to be used in the manufacture for the DMG Advanced Thermal Conversion Technology process. It is to be installed at the first plastic to hydrogen facility which will be located at Peel NRE's - part of Peel L&P - strategic energy and resource hub Protos in Ellesmere Port.
The alloy material has been ordered by Protos Plastics to Hydrogen No. 1 Limited, the Peel NRE Special Purpose Vehicle (the "SPV"). The procurement was funded from the recent loan agreement from PHE which is set to provide up to £3.8 million to the SPV.
The alloy material has the necessary high temperature corrosion resistance whilst providing the strength and lifetime durability necessary for application in the Thermal Conversion Chamber (TCC). The material was selected after four years of research by the Powerhouse team our suppliers and material specialist consultants.
With this commencement of the procurement process, the project development managers King Associates are also engaging with all the long lead suppliers to finalise contracts for other critical components.
David Ryan, Chief Executive Officer of Powerhouse Energy Group, said:
"Over four years of the technology development team's work has gone into this procurement decision. I would like to thank all involved, including Peel NRE for their commitment and I look forward to seeing the material worked into the Protos chamber fabrication later in the year."
Myles Kitcher, Non-Executive Director of Powerhouse and Managing Director of Peel NRE, part of Peel L&P, said:
"The material on order sets the path for delivery of this important project for the creation of hydrogen from waste plastic in the UK."
-ENDS-
For more information, contact:
| Powerhouse Energy Group plc | Tel: +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 (TPI) Ltd (Joint Broker) | Tel: +44 (0) 203 657 0050 |
| Andrew Thacker | |
| SisterSmith PR (media enquiries) Becca Smith | Mob: +44 (0) 7766522305 |
Notes to Editors:
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 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 £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.co.uk
About Peel NRE - Re-energising Natural Resources
Peel NRE, part of Peel L&P, is at the heart of the nation's activity around clean growth and the circular economy - helping the UK achieve net zero by 2050 and supporting regions in their actions to achieve climate emergency targets.
We reuse, repurpose and re-energise natural resources to develop and maintain vital infrastructure across the UK and are experts in renewable energies, district heating, waste to value, water management, materials management and electric vehicle charging.
Our Protos Cheshire energy and resource hub leads the way in low carbon energy and waste management through innovative technologies including the UK's first plastic-to-hydrogen facility, a 50MW windfarm, a 26MW biomass plant, a 49MW energy from waste plant in construction and a plastic park blueprint to revolutionise plastic recycling nationwide.
More about Peel NRE at www.peellandp.co.uk/peelnre
