Powerhouse Energy
Group plc
("Powerhouse" or
the "Company")
16 February
2022
Announcement regarding development
partner update, Hydrogen Utopia International PLC
Powerhouse Energy Group plc (AIM: PHE), the UK technology
company commercialising hydrogen production from plastic, notes the
announcement made today by its development partner Hydrogen Utopia
International PLC regarding an update on its discussions with
Mitsubishi Heavy Industries Ltd further to that previously
announced on 18 January 2022, a copy
of which is repeated below.
-ENDS-
For more information, contact:
Powerhouse Energy Group
plc |
Tel: +44 (0) 203 368 6399 |
James Greenstreet, Non-Executive
Chairman |
|
|
|
WH Ireland Limited (Nominated
Adviser) |
Tel: +44 (0) 207 220 1666 |
James Joyce / Megan Liddell |
|
|
|
Turner Pope Investments (TPI) Ltd
(Joint Broker) |
Tel: +44 (0) 203 657 0050 |
Andrew Thacker / James Pope |
|
|
|
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 or 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
NOT FOR RELEASE, PUBLICATION OR
DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO OR FROM THE UNITED
STATES, AUSTRALIA, CANADA, JAPAN, OR SOUTH
AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO
DISTRIBUTE THIS ANNOUNCEMENT.
16 February 2022
Hydrogen Utopia
International PLC
(the 'Company' or ‘HUI’)
Discussions update
in Japan
Hydrogen Utopia International PLC (AQSE:HUI), a company
pioneering non-recyclable waste plastics to hydrogen technology,
announces that following recent discussions between HUI and
Mitsubishi Heavy Industries, Ltd (“MHI”) it has been mutually
acknowledged that no agreement exists on exploring any
potential commercial opportunities for developing waste
plastic to hydrogen facilities in Japan with MHI.
HUI continues to explore opportunities in Japan and is hopeful that it may work with MHI
in the future.
For more information about the Company, please refer to our
website: www.hydrogenutopia.eu
For further information please contact:
Hydrogen Utopia International PLC
Aleksandra Binkowska/Guy
Peters
+44 20 3811 8770
Alfred Henry Corporate Finance Limited
(AQSE Corporate Adviser)
Jon Isaacs
+44 20 3772
0021
Novum Securities Limited (Broker)
Jon Belliss/Colin
Rowbury
+44 20 7399
9400
About Hydrogen Utopia International
PLC
HUI aims to become one of the leading new European companies
specialising in turning non-recyclable mixed waste plastic into
carbon-free fuels, new materials or distributed renewable heat.
A HUI facility uses non-recyclable mixed waste plastic as
feedstock and turns it into syngas from which new products and
energy can be produced. HUI anticipates that its revenues will be
derived from a variety of sources, dependent upon location and
configuration of the HUI facilities, including the sale of syngas,
hydrogen and other gases, electricity and heat sales, and the
payment to it of fees for a given quantity of non-recyclable mixed
waste plastic received at a HUI facility.
HUI will target areas where there is significant private sector
interest or potential, financial backing is accessible and or where
substantial EU and/or government funded sources of grants and loans
are or may be available. The global increase in fossil fuel-based
energy prices reinforces the need for alternative, price
competitive energy sources, which HUI’s business model can
provide.
HUI’s initial strategic focus is to work closely with Powerhouse
Energy Group plc to create a project pipeline of HUI
facilities.
The pressing need to deal with growing amounts of waste plastic
combined with a real momentum in the use of hydrogen from renewable
sources may pave the way for a rapid deployment of and investment
in HUI facilities.