PowerHouse Energy
Group plc
("PowerHouse" or
the "Company")
Discussions with Toyota Tsusho
Corporation
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 is pleased to
announce that it has received a formal invitation from Toyota
Tsusho Corporation of Japan to
engage in advanced commercial discussions regarding the PowerHouse
DMG® technology.
This invitation has been made subsequent to an extensive review
of the DMG® technology by Toyota Tsusho’s Chemical
Business Development Division and subsequent to PHE having achieved
its recent “Statement of Feasibility” by DNV-GL, a leading provider
of technical assurance world-wide.
Following Toyota Tsusho’s review of the PHE Basic Engineering
Package and the DNV-GL technical qualification process, PHE now
welcome the news that Toyota Tusho have positively reviewed the
DMG® technology and consider that DMG® and
its application within Japan
and Asia offers significant
potential.
Mr. Takashi Torigoe, General
Manager, Chemical Business Development stated:
"We have been
reviewing Power House Energy's DMG technology over the last few
months and take great interest in it. We are excited and looking
forward to a potential partnership in Japan and possibly worldwide."
Discussions with Toyota Tsusho have been led by our UK Project
Development Team, Waste2Tricity Ltd. with support from our
technical team. It is expected that the next level of
work for Toyota Tsusho by PHE will include further technical and
commercial application engineering for the Toyota Tusho/W2T Project
teams to secure regional early adopters to enhance the project
pipeline in a variety of geographies.
Keith Allaun, CEO of PowerHouse
commented:
“Whilst there
can be no certainty these negotiations will result in a formal
agreement, I’m extremely enthusiastic about this opportunity
to explore how our DMG® technology can be exploited in
Japan - an ideal market for our
Systems.
“Toyota is
taking a leading role globally in the use of hydrogen in transport
and appears to recognize the value proposition that our distributed
system has with it’s small foot-print, its efficiency, and its
ability to deliver road-quality hydrogen, at a competitive price,
as and when its needed.”
Toyota Tsusho is one of the 17 members of the Toyota
Group. On its website, Toyota Tsusho is described, “As
the Toyota Group's sole general trading company, we gather
information and promote the development of new business from a
global perspective. As automotive professionals with unique
capabilities and know-how, we strive to lead the Toyota Group in
the challenge to develop the evolution of next-generation mobility
to contribute to the development of both society and the Toyota
Group.”
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 -
DMG® - which can utilise waste plastic, end-of-life-tyres, and
other waste streams to efficiently and economically convert them
into EcoSynthesis gas from which valuable products such as chemical
precursors, hydrogen, electricity and other industrial products may
be derived. The PowerHouse technology is one of the world’s first
proven, modular, hydrogen from waste (HfW) processes.
The PowerHouse DMG® process can generate in excess of 1 tonne of
road-fuel quality H2, and more than 28MW/h of exportable
electricity per day.
The PowerHouse 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
under the ticker: PHE, and 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 gasification and
internal combustion engines to efficiently convert waste plastic to
energy and in the future can produce hydrogen to support the growth
of the hydrogen economy.