Powerhouse Enrgy Grp DMG® Development Option Agreement with Peel
09 Marzo 2020 - 8:00AM
UK Regulatory
TIDMPHE
PowerHouse Energy Group plc
("PowerHouse" or the "Company")
9th March 2020
DMG® Development UK Exclusivity Option Agreement with Peel
PowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering
hydrogen production from waste plastic, is pleased to announce it has signed
an option to enter into an exclusive agreement for the development of DMG®
Technology in the UK (the "UK Exclusivity Option Agreement") with Peel
Environmental (part of Peel L&P) ("Peel").
Under the UK Exclusivity Option Agreement, Peel has, if it exercises the
option, committed to lead the engagement with all potential end customers for
UK based DMG® plants such as councils and waste management companies and will
facilitate or help facilitate the development of those DMG® plants in
accordance with the customers' commercial requirements.
The UK Exclusivity Option Agreement is conditional upon and requires the
completion of the proposed PowerHouse acquisition of Waste2Tricity Limited,
which is progressing but has yet to be finalised for logistical reasons,
including the finalisation of a shareholder circular in advance of a general
meeting.
Peel are well positioned in the UK Energy from Waste sector to deliver
Powerhouse's ambitious plans for quick and effective roll out of DMG®
technology thoughout the UK.
Peel not only bring their land bank as potential DMG® plant sites, but also
their experience of working within communities and with other businesses
working with end customers' sites and acquiring new sites for DMG® units.
PowerHouse will, if Peel exercises the option, receive GBP500,000 as a one-off
fee for granting Peel exclusive rights to develop the DMG® Technology in the
UK. On an ongoing basis, PowerHouse will then be entitled to a licence fee of
approximately GBP500,000 for each DMG® plant that Peel develops, which will
become payable when a unit becomes operational. PowerHouse may also earn
additional fees from technical engineering services and maintenance contracts
associated with each project if contracted by Peel to do so.
PowerHouse intends to negotitate similar exclusivity arrangements with
development partners on a country-by-country basis as part of its strategy to
enable rollout of its DMG® technology in the most effective and speedy manner
in each region.
David Ryan, CEO of PowerHouse Energy, said:
"We have chosen to work with Peel largely based on the results of the very
positive engagement we have had with them to date combined with their well
suited strategic fit as a development partner for delivering an effective and
sustained roll out of our DMG® technology across the UK.
"They have the resource, reputation and experience as well as a shared vision
for providing commercially sound solutions to meet the increasing demand for
energy from waste produced in an environmenentally responsible manner. We very
much look forward to having a highly productive and mutually profitable working
relationship with Peel."
Myles Kitcher of Peel commented:
"We have a huge problem with plastic waste in the UK and we desperately need
new infrastructure to prevent it ending up in landfill or exported overseas.
With the first plant at Protos recently securing planning consent this
agreement is the next step in enabling this ground breaking technology to be
rolled out across the UK. It also fits with our ambitions to deliver low carbon
energy sources, with the production of hydrogen which can be used as a clean
fuel for transport.
"We are now looking at other sites where the technology can be deployed,
including on Peel owned land, as part of our wider plans to develop a complete
solution for plastic waste. We are looking forward to working in partnership
with PowerHouse Energy to help local authorities tackle their waste plastics in
a more sustainable and cost effective way and deliver on the UK's net zero
ambitions."
For more information, contact:
PowerHouse Energy Group plc Tel: +44 (0) 203 368
6399
David Ryan, Chief Executive Officer
WH Ireland Limited (Nominated Tel: +44 (0) 207 220
Adviser) 1666
James Joyce / Lydia Zychowska
Turner Pope Investments Ltd (Broker) Tel: +44 (0) 203 657
0050
Andrew Thacker / Zoe Alexander
Ikon Associates (Media enquiries) Tel: +44 (0) 1483
271291
Adrian Shaw Mob: +44 (0) 7979
900733
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. The PowerHouse technology is one of the
world's first proven, modular, hydrogen from waste (HfW) process.
The PowerHouse DMG® process can generate up to 2 tonnes of road-fuel quality
H2, and more than 58MWh 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 Peel L&P Environmental and Protos
Peel Environmental, part of Peel L&P, owns and develops waste infrastructure
projects. It has achieved consent for a range of energy infrastructure schemes
including a 49MW Energy from Waste plant at Protos in Cheshire, 21MW Energy
from Waste plant and 250,000tpa AD and MRF in Glasgow; and a 20MW Energy Centre
at Houghton Main, Barnsley. Peel works with investors, waste management
companies, technology providers and contractors to secure a deliverable
business model for each project. www.peelenvironmental.co.uk
Peel Environmental brought forward and consented the Protos development,
previously known as Ince Resource Recovery Park. The 54ha (134 acres)
development site has full outline planning consent and part detailed planning
consent for general manufacturing and distribution uses (B1, B2 & B8), as well
as a biomass facility and an Energy from Waste facility.
www.protos.co.uk @ThisIsProtos
Protos sits within the Energy Innovation District (EID) which brings together
energy users, network owners, innovators and partners working alongside
Cheshire & Warrington LEP, Cheshire West and Chester Council and the University
of Chester. With the objective of driving down the cost of clean energy the EID
is an opportunity to deliver a new decarbonised energy system for the North
West of England, meeting the Government's Clean Growth agenda while boosting
economic growth and investment.
www.energyinnovationdistrict.com
END
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