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PHE Powerhouse Energy Group Plc

1.09
-0.01 (-0.91%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Powerhouse Energy Group Plc LSE:PHE London Ordinary Share GB00B4WQVY43 ORD 0.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.01 -0.91% 1.09 1.05 1.10 1.125 1.075 1.125 12,222,893 16:35:12
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Scrap & Waste Materials-whsl 380k -46.2M -0.0111 -0.96 44.48M

Powerhouse Enrgy Grp Heads of Terms agreed for commercial DMG site

18/12/2017 7:00am

UK Regulatory


 
TIDMPHE 
 
18 December 2017 
 
                          PowerHouse Energy Group plc 
                        ("PowerHouse" or the "Company") 
 
  PowerHouse and Peel Environmental Ltd announce Heads of Terms for siting of 
          initial commercial Distributed Modular Gasification System 
 
PowerHouse Energy Group plc (AIM: PHE), the pioneer in distributed 
waste-to-hydrogen production, announces that it has reached a Heads of Terms 
with Peel Environmental Ltd ("Peel"), a company at the forefront of developing 
infrastructure for the waste and environmental technology sectors in the UK, 
for a 25 year lease to site its initial commercial DMG® System. The new one 
acre site ("the Site") is conveniently located near the University of Chester, 
Thornton Science Park, where the PowerHouse G3-UHt Research Demonstrator is 
operating. 
 
After evaluating a number of sites throughout the UK with Peel and 
Waste2Tricity Ltd, the Company has determined that this Site represents an 
ideal location for its first commercial system. The Site has access to the 
National gas grid, the commercial electrical grid, and also benefits from 
excellent road and waterway access. 
 
Terms of the lease with Peel are expected to be finalised in the New Year. The 
Company, working in conjunction with Peel, will immediately commence the 
planning and permitting process as required, with the signing of the lease 
contingent upon achieving approvals by the appropriate authorities. Surveying 
activities and initial site engineering will commence in early 2018 as 
previously projected by the Company. 
 
Keith Allaun, CEO of PowerHouse, said: "We have achieved yet another exciting 
milestone for the Company in identifying the site for our first commercial DMG 
installation. This site is ideal in terms of its transportation access as well 
as relative proximity to Thornton Science Park. 
 
"The hydrogen economy is rapidly being embraced by automobile manufacturers, 
and both land-based and maritime industrial transport companies. This location 
allows us to deliver electricity, road-fuel quality hydrogen, and industrial 
syngas to clients from multiple sectors. 
 
"Our intention is to build the world's first DMG® facility here in the 
Northwest of England where we have enjoyed so much support from local industry, 
councils, and the Northwest Hydrogen Hub. Our ability to expand on this site is 
very attractive and will allow us to target ultimately producing over 2MW of 
electricity and over 3 tonnes of high-quality hydrogen per day." 
 
The Company intends to option an additional parcel of land on the Site for 
future expansion opportunities. 
 
For more information, contact: 
 
PowerHouse Energy Group plc                Tel: +44 (0) 203 368 6399 
Keith Allaun, Executive Chairman 
 
WH Ireland Limited (Nominated Adviser)     Tel: +44 (0) 207 220 1666 
James Joyce / Alex Bond 
 
Turner Pope Investments Ltd (Broker)       Tel: +44 (0) 203 621 4120 
Ben Turner / James Pope 
 
Buchanan (Media enquiries)                 Tel: +44 (0) 20 7466 5000 
Mark Court / Chris Lane 
 
About PowerHouse Energy 
 
PowerHouse Energy Group plc is the developer of the G3-UHt Ultra High 
Temperature Gasification unit and the creator of DMG®, the Distributed Modular 
Gasification System which allows for the distributed eradication of waste, the 
generation of distributed electricity, and the production of distributed 
hydrogen with the world's first hydrogen from waste process (HfW). 
 
The Company is focused on technologies to enable projects for energy recovery 
from municipal and industrial waste streams that would otherwise be directed to 
landfills and incinerators; or from renewable and alternative fuels such as 
biomass, tyres, and plastics to create synthesis gas (syngas) for power 
generation, or high-quality hydrogen as a fuel for transport. DMG® allows for 
easy, economical, deployment and scaling of an environmentally sound solution 
to the growing challenges of waste eradication, landfill diversion, electrical 
demand, and distributed hydrogen production. 
 
PowerHouse is quoted on the London Stock Exchange's AIM Market. The Company is 
incorporated in the United Kingdom. 
 
For more information see www.powerhouseenenergy.net 
 
 
 
END 
 

(END) Dow Jones Newswires

December 18, 2017 02:00 ET (07:00 GMT)

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