Powerhouse Energy Group PLC exclusive vendor agreement for Thailand
07 Maggio 2014 - 8:01AM
RNS Non-Regulatory
TIDMPHE
Powerhouse Energy Group PLC
07 May 2014
7 May 2014
PowerHouse Energy Group plc
("PowerHouse" or the "Company")
PowerHouse signs exclusive vendor agreement for Thailand
* PowerHouse signs exclusive vendor agreement with Waste2Tricity
(International) Thailand Limited (W2T)
* PowerHouse takes first steps to open large ASEAN market to Pyromex technology
* W2T granted an exclusive option for manufacturing and
distribution rights for Pyromex systems in Thailand dependent on a
minimum 10 orders in first four years
* First project has been identified and negotiations are under
way for delivery of 25TPD system this calendar year
* Thailand represents significant early revenue opportunities for both companies
PowerHouse announces that it has signed an agreement to grant
W2T an exclusive one year vendor licence to sell the Pyromex
technology in Thailand, with performance options to extend the
agreement.
W2T has previously announced two definitive contracts to develop
300,000 tonnes per annum facilities in Thailand and is in
negotiations to deliver three additional large-scale projects. W2T
has advised PowerHouse that it believes that the Pyromex Ultra High
Temperature Gasification technology could be complementary to its
other technologies.
Based on the success achieved in the first year of the
agreement, PowerHouse has also agreed to grant an exclusive five
year manufacturing licence to W2T to manufacture the Pyromex Ultra
High Temperature gasification unit in Thailand for sale in Thailand
on terms to be negotiated. This licence will run from the expiry of
the vendor licence. It is proposed that such licence would have a
minimum order level of two units per year and an aggregate of 10
units in the first three years of the second exclusivity period and
if W2T fails to meet these levels, PowerHouse will be entitled to
terminate the agreement with effect from the end of the second
exclusivity period.
"We continue to evaluate the Pyromex technology which has the
potential to be a perfect solution for small to medium scale Waste
to Energy challenges facing Thailand. The Pyromex 25 tonne-per-day
system, generating 1 MW of electricity, could be deployed in dozens
of locations, taking advantage of local/distributed electrical
generation, and benefiting the people and economy of Thailand. The
potential economic advantages of the Pyromex solution are obvious
and we are excited to be taking steps to be their exclusive partner
in this area of Asia. With our exclusive license for the AFC Fuel
Cell technology, we believe that this will be the most affordable
modular system available on the market for the delivery of clean
Waste-to-Energy projects, the optioned system will enable us to
work with our Thai partners to finalise that evaluation under local
conditions" said John Hall, MD of W2T.
Keith Allaun, Executive Chairman of PowerHouse Group, plc said,
"With W2T as our partner in Thailand, we can begin an aggressive
campaign to market our products into the ASEAN market. W2T is a
well-known project developer in Thailand and brings a wealth of
local experience and expertise. This allows us to accelerate our
intended growth in an area with significant demand for renewable
power."
"Along with our previously announced intention to open an office
in Singapore, this partnership with a leading provider of large
scale Waste-to-Energy technology and projects should demonstrate
our commitment to success in the region," Allaun stated.
"We envision integrating the Pyromex technology with the AFC
Fuel Cell in the future and delivering multiple, distributed,
systems throughout the country" said Mr. Hall.
The Pyromex system can generate significant amounts of pure
hydrogen, as has been demonstrated during the commissioning of
Pyromex's 5TPD unit in Switzerland. This hydrogen, produced
inexpensively from waste feedstock perfectly complements the AFC
Fuel Cell technology.
For additional information please contact:
PowerHouse Energy Group plc
Keith Allaun - Executive Chairman
Phone: +44 (0)20 7079 4407
Email: inquire@powerhousegroup.co.uk
About PowerHouse Energy Group plc
PowerHouse Energy Group plc is an alternative energy company
specialising in the sale of waste to energy systems. PowerHouse's
key advantages centre on its implementation of proprietary
technology and a wealth of industry knowledge. The Company's
technologies enable energy recovery from municipal waste streams
that would otherwise be directed to landfills and incinerators; or
from renewable and alternative fuels such as biomass, lignite
(brown coal), tires, and plastics to create syngas for power
generation or reformed into liquid fuels for transportation. For
more information, visit our website at
www.powerhouseenergy.net.
Waste2Tricity Ltd
Waste2tricity is a structured solutions provider for the waste
to energy sector and through its exclusive UK & Thai EfW
Licences and rights of first refusal to AFC Technology will act as
a platform developer for projects involving fuel cells using waste
as a feedstock. Its shareholders include Ervington Investments (UBO
Roman Abramovich), Age of Reason Foundation and Eturab, all of whom
are substantial shareholders in AFC Energy and/or Alter NRG
Westinghouse and represent approx. 30% of each company. For more
information, visit Waste2Tricity at www.waste2tricity.com
This information is provided by RNS
The company news service from the London Stock Exchange
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