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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 MOU with Peel Environmental

06/02/2017 7:00am

UK Regulatory


 
TIDMPHE 
 
PowerHouse Energy Group plc 
                       ("PowerHouse", or the "Company") 
 
                          MOU with Peel Environmental 
 
PowerHouse is pleased to announce that it has signed a Memorandum of 
Understanding ("MOU") with Peel Environmental Ltd ("Peel Environmental") and 
its subsidiary This is Protos LLP ('Protos') to work together to pursue the 
development, construction and operation of an energy from waste plant at Peel 
Environmental's Protos facility near Chester, UK.  This MOU was brokered by 
Waste2Tricity Ltd ("Waste2Tricity") in conjunction with the joint development 
agreement between PowerHouse and Waste2Tricity announced on 18 January 2017. 
 
The MOU, covering a collaboration period until 1 May 2018, sets out the basis 
on which PowerHouse and Peel Environmental will work together.  The joint 
project envisages the construction of PowerHouse's first commercial enterprise, 
utilising the Company's G3-UHt system, at the Protos site together with a 
proposed plan for the delivery of five energy from waste plants.  There is no 
certainty that the MOU will proceed to definitive agreements between the 
parties. 
 
Commenting Keith Allaun, Executive Chairman of PowerHouse, said: "Peel 
Environmental is a national leader in helping create solutions to the UK's 
waste challenges.  With multiple waste management sites located across the UK, 
Peel has the experience to see projects from green-field through to 
completion.  Their vision for Protos; creating a robust energy-from-waste and 
alternative energy ecosystem in a single, large, and fully integrated facility 
makes them an ideal partner for a company like ours. 
 
Commenting Myles Kitcher, Managing Director of Peel Environmental, said: "Peel 
Environmental is extremely enthusiastic about supporting PowerHouse and adding 
it to the growing energy park at our Protos facility. 
 
For more information, contact: 
 
PowerHouse Energy Group plc                            Tel: +44 (0) 203 368 
Keith Allaun, Executive Chairman                       6399 
 
WH Ireland Limited (Nominated Adviser)                 Tel: +44 (0) 207 220 
James Joyce / James Bavister                           1666 
 
Vicarage Capital Limited (Broker)                      Tel: +44 (0) 203 651 
Jeremy Woodgate                                        2910 
 
IFC Advisory (Financial PR & IR)                       Tel: +44 (0) 203 053 
Tim Metcalfe / Graham Herring / Heather Armstrong /    8671 
Miles Nolan 
 
 
Notes to Editors 
 
About PowerHouse 
 
PowerHouse is the holding company of the G3-UHt System Ultra High Temperature 
Gasification waste to energy systems. 
 
The Company is focussed on technologies to enable energy recovery from 
municipal 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 syngas for power generation, high-quality hydrogen, or 
potentially reformed into liquid fuels for transportation. These waste to 
energy systems aim to provide the "best solution" to the on-site energy market. 
 
PowerHouse is quoted on the London Stock Exchange's AIM Market. The Company is 
incorporated in the United Kingdom. 
 
About Protos 
 
Protos is being developed by Peel Environmental, a subsidiary of the Peel 
Group, one of Britain's leading infrastructure, transport and real estate 
companies. 
 
At the core of Protos is the 51ha (126 acre) development site, which has 
outline and detailed planning consent for industrial uses including an Energy 
from Waste facility, a biomass facility and environmental technologies 
including resource recovery. This also encompasses B1, B2 and B8 uses. 
 
Creating a cluster of complementary businesses at Protos can provide increased 
access to energy; skills; support and resources; and a co-located supply chain. 
 
Peel see Protos being transformational for the region's employment market, with 
the ability to create some 3,000 jobs.  They are bringing forward Protos in 
collaboration with the University of Chester, who's neighbouring Thornton 
Science Park offers direct access to a highly-skilled and futureproof 
workforce, as well as state-of-the-art facilities. 
 
 
 
END 
 

(END) Dow Jones Newswires

February 06, 2017 02:00 ET (07:00 GMT)

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