Powerhouse Enrgy Grp Operational Update
15 Febbraio 2019 - 8:00AM
UK Regulatory
TIDMPHE
PowerHouse Energy Group plc
("PowerHouse" or the "Company")
15th February 2019
Operational update
PowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering
hydrogen and clean energy production from waste plastic and used tyres is
pleased to update stakeholders on recent progress.
The level of interest in the PowerHouse proprietary DMG® process from potential
customers, development partners and engineering, procurement and construction
(EPC) contractors has increased significantly in the last quarter. Most of the
interest expressed has comprised specific enquiries that have been or are being
taken through a screening process prior to formal proposals. As a consequence,
we are progressing a number of potential deals in parallel, which we are
confident will result in a final contract for the first commercial DMG®. We
also have strong expressions of interest from over a dozen site owners who
would like to establish DMG® units on their sites once our first unit is proven
operationally.
We are currently collaborating on detailed site operational requirements,
delivery programmes and framework contracts for 6 client sites in the UK where
it is anticipated that the DMG® process will be utilised first. As part of this
process, potential customers or partners are undertaking their own due
diligence on the DMG® process, potential operational savings and the speed with
which plants can be delivered. When this process is complete, heads of terms
would need to be agreed before signing a formal contract. We would anticipate
reaching a head of terms with at least one customer in the next quarter.
Signing of contracts would initiate revenue generation for PowerHouse.
Our planned delivery programme for the UK is that DMG® systems will be bought
by partners and customers and located on host waste sites, with revenues for
PowerHouse arising from sales and licences. We are in the process of
progressing planning and permitting assessments on the potential clients' sites
under negotiation, in readiness for formal submission on initial contractual
agreement.
It is anticipated that engineering and site assembly of each DMG® unit will
involve an EPC partner. We have been approached by several blue-chip companies
who would like to be considered to fulfil this role, each with worldwide
delivery capability. To support this contractual engagement, PowerHouse has
already put in place all the operational systems, procurement, contractual and
licensing frameworks necessary to engage with such EPC partners.
In addition to the UK, we have targeted the established Japanese hydrogen
markets. Our development partner Waste2Tricity (W2T) is now in commercial
negotiation with Toyota Tsusho Corporation, which we believe could lead to
Toyota Tsusho Corporation agreeing to be one of the companies introducing our
DMG® technology for hydrogen generation into Japan and other parts of Asia.
David Ryan, CEO of PowerHouse, commented: "Considerable progress has been made
in terms of us maturing negotiations towards final contract stage and in
dealing with the substantial increase in commercial leads. The PowerHouse
commercial and engineering teams and our project development partners W2T have
dealt with the increase in such interest magnificently, screening
opportunities, delivering proposals to potential customers and proactively
following up as appropriate and, importantly, within budget. I am confident
that we will sign heads of terms with at least one of these in the next
quarter.
"Our core focus is on securing the first contract, and the significant strides
we have made in recent months and weeks are a strong indicator of the solid
progress being made towards building the first DMG® plant."
ENDS
For more information, contact:
PowerHouse Energy Group plc Tel: +44 (0) 203 368
6399
David Ryan, 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
Notes for editors:
About PowerHouse Energy
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. The PowerHouse technology is one of the
world's first proven, modular, hydrogen from waste (HfW) process.
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
END
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