Powerhouse Enrgy Grp Memorandum of Understanding
20 Febbraio 2018 - 8:00AM
UK Regulatory
TIDMPHE
20 February 2018
PowerHouse Energy Group plc
("PowerHouse" or the "Company")
Memorandum of Understanding
PowerHouse Energy Group plc (AIM: PHE), the UK Waste-to-Energy company seeking
to develop hydrogen production from waste plastic and used tyres, is pleased to
announce a partnership Memorandum of Understanding ("MOU") with Wrightbus Ltd
("Wrightbus"), a leading bus manufacturer whose products include innovative
hydrogen powered buses.
This MOU was negotiated in collaboration with Waste2tricity Ltd as part of its
commercial partnership with PowerHouse as its Project Development Consultant.
The MOU is non binding and although there can be no certainty a binding
agreement will be entered into, the Board of PowerHouse expects this to lead to
a definitive agreement under which Wrightbus will supply hydrogen fuel powered
buses and PowerHouse will provide access to its Distributed Modular
Gasification ("DMG®") system for the low cost and environmentally responsible
production of hydrogen.
It is expected that this first-of-its-kind turnkey solution will be marketed to
local authorities and public transport providers in the UK and internationally
with a particular focus on city centres, where the lack of emissions generated
by hydrogen fuel cell buses bring important environmental and quality-of-life
benefits. PowerHouse's compact DMG® system, has the capacity to process 25
tonnes of plastic per day, and would have the potential to provide hydrogen to
fuel buses and also provide electricity for sale to either the national grid or
private clients.
The DMG® system has the potential to enable hydrogen to be produced locally
from small-scale plastic processing plants and sold at a cost competitive with
petrol and diesel. To date the production and distribution costs of hydrogen
produced from Natural Gas has been prohibitive and produced considerable CO2
emissions. PowerHouse believes it can change the economics of that situation
with carbon neutral hydrogen.
Keith Allaun, CEO of Powerhouse, commented:
"We're delighted to announce this MOU with an alternative energy leader like
Wrightbus - an innovator in clean public transport. Together, we believe we
have the potential to offer a cost-effective turnkey solution in which we will
produce hydrogen using our DMG® process to produce the road fuel for
Wrightbus's zero emission hydrogen buses. This is the model by which we can
begin to change the environment. Together we offer a compelling proposition for
transport providers such as a local authority in which they would be able to
offer a zero emission bus service at the same cost as diesel transportation,
with zero emissions, and converting waste into hydrogen and electricity. Given
our shared corporate objectives to make a positive difference to our world
profitably, PowerHouse and Wrightbus are an ideal match."
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 / Alex Bond
Turner Pope Investments Ltd (Broker) Tel: +44 (0) 203 621 4120
Ben Turner / James Pope
Buchanan (Media enquiries) Tel: +44 (0) 20 7466 5000
Mark Court / Chris Lane
About PowerHouse Energy
PowerHouse Energy Group plc is the developer of the G3-UHt Ultra High
Temperature Gasification unit, and the creator of DMG®, the Distributed Modular
Gasification System that allows the distributed eradication of waste, the
generation of distributed electricity, and the production of distributed
hydrogen with the world's first hydrogen from waste (HfW) process.
The Company is focused on technologies to enable projects for energy recovery
from municipal and industrial waste streams that would otherwise be directed to
landfills and incinerators; or from renewable and alternative fuels such as
biomass, tyres, and plastics to create synthesis gas (syngas) for power
generation, or high-quality hydrogen as a fuel for transport. DMG® allows for
easy, economical, deployment and scaling of an environmentally sound solution
to the growing challenges of waste eradication, landfill diversion, electrical
demand, and distributed hydrogen production.
PowerHouse is quoted on the London Stock Exchange's AIM Market and is
incorporated in the United Kingdom.
For more information see www.powerhouseenergy.net
END
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