12 November
2021
Powerhouse Energy
Group plc
("Powerhouse" or
the "Company")
Development
partner, Hydrogen Utopia International, sign framework agreement
with Linde Engineering
Powerhouse Energy Group plc (AIM:
PHE), the UK technology company commercialising hydrogen production
from waste plastic, is pleased to announce its development partner
Hydrogen Utopia International PLC (HUI) has signed a framework
agreement with Linde Engineering.
The framework agreement provides
Linde Engineering with a five year exclusivity to supply HUI in
HUI’s development of Powerhouse DMG® technology particularly in
Poland, Hungary and Greece where HUI holds exclusivity for
promotion and marketing of DMG® technology and potentially on the
wider European Continent on a project by project basis. It permits
Linde Engineering at their discretion to engage on any individual
project, from equipment supply through to design and build, and,
subject to Chemical Thermal Conversion Chamber supply approval, to
a full EPC in the areas of the European Economic Area on any HUI
developed project.
Linde Engineering has finalised a
technical feasibility evaluation to deploy the syngas clean-up and
hydrogen extraction of Powerhouse DMG® technology at a planned
plant to be located in Konin, Poland. The project, if completed, is expected
to contain ten DMG® units in one geographical area.
This project is subject to funding
approval by the European Union’s Just Transition Fund which will be
matched by funds from the Polish Government.
Powerhouse announced on
7 October 2021 that it had entered
into a binding collaboration agreement (the “Collaboration
Agreement”) with HU2021 International UK Limited, a wholly owned
subsidiary of Hydrogen Utopia International PLC, to market the
deployment of DMG® technology in territories outside the UK. Any
opportunities identified by Linde and HUI will be subject to the
terms of the Collaboration Agreement.
The formal IP Implementation licence
to HUI for construction of its projects approved by Powerhouse,
which will cover the licence fees to be received by Powerhouse for
any deployment of the DMG technology, has yet to be
agreed
James Greenstreet, Non-Executive Chairman of
Powerhouse Energy Group, said:
“We are delighted HUI is moving
forward with seeking the commercialisation of DMG® in Europe, having signed a framework agreement
with Linde Engineering, at our roundtable event to mark the 26th UN
Climate Change Conference of the Parties (COP26) in Glasgow. We look forward to HUI and Linde’s
collaboration which would use Powerhouse technology to help
accelerate Poland’s clean energy transition. HUI is championing our
technology across Europe and
potentially the world – helping provide a global solution to
plastic waste.”
More information about plans for the
rollout of the DMG® technology will be announced in due course.
-ENDS-
For more information,
contact:
Powerhouse Energy Group plc |
Tel: +44 (0) 203 368 6399 |
James Greenstreet, Non-Executive
Chairman |
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WH Ireland Limited (Nominated Adviser) |
Tel: +44 (0) 207 220 1666 |
James Joyce/ Megan Liddell |
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Turner Pope Investments
(TPI) Ltd (Joint Broker) |
Tel: +44 (0) 203 657 0050 |
Andrew Thacker / James Pope |
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SisterSmith PR (media enquiries)
Becca Smith |
Mob: +44 (0) 7766522305 |
Notes to Editors:
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. Powerhouse’s technology
is one of the world's first proven, distributed, modular, hydrogen
from waste (HfW) process.
The Powerhouse DMG® process can
generate up to 2 tonnes of road-fuel quality hydrogen and more than
58MWh of exportable electricity per day.
Powerhouse’s process produces low
levels of safe residues and requires a small operating footprint,
making it suitable for deployment at enterprise and community
level. As announced on 11th February
2020 under its Supplemental Agreement with Peel
Environmental, Powerhouse will receive an annual license fee of
£500,000 in respect of each project which is commissioned.
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.co.uk
About Hydrogen Utopia
Hydrogen Utopia International PLC
was founded in 2020 by Aleksandra
Binkowska and has subsequently received financial backing
from a number of high net worth investors. HUI will
initially focus its proposed rollout of
DMG® technology on areas where substantial EU and/or
government funded sources of grants and loans are available, such
as the EU’s “Just Transition Fund” which was set up to help
fossil fuel dependent communities such as Konin in Poland transition towards climate neutrality,
or where substantial private sector backing is accessible.
For more information see www.hydrogenutopia.eu/