Share Name Share Symbol Market Type Share ISIN Share Description
Powerhouse Energy Group Plc NEX:PHE.GB NEX Ordinary Share GB00B4WQVY43
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.004p -0.95% 0.416p 0.39p 0.44p 0.42p 0.416p 0.42p 117,188 08:49:13
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - -

Powerhouse Enrgy Grp Change of Directorate

01/02/2019 7:00am

UK Regulatory (RNS & others)


 
TIDMPHE 
 
PowerHouse Energy Group plc 
                    ("PowerHouse Energy" or the "Company") 
 
1 February 2019 
 
                      PowerHouse Energy Group CEO Resigns 
 
PowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering 
hydrogen production from waste plastic and used tyres and developer of the DMG® 
 System must announce that its CEO, Keith Allaun, has resigned, effective 1 
February 2019. 
 
In a statement to all stakeholders, Mr. Allaun states: 
 
"It is with great regret that I announce that, due to extenuating personal 
circumstances, I must leave PowerHouse at this time.  The increase and 
upgrading to our management team this past year has been of significant benefit 
which led to the completion of our Commercial Design, our Statement of 
Feasibility by DNV-GL, and the progress in finalising planning and permitting. 
It's become clear more recently that we require a seasoned commercial and 
professional manager at the helm of the company. 
 
David Ryan, the current Technical Director, with over 38 years of energy 
industry experience, and nearly 5 years as MD of ThyssenKrupp's UK's Oil and 
Gas Operations, acting as CEO of PowerHouse, will continue to build the team, 
drive the commercial objectives, and will begin to implement the rigorous 
performance metrics necessary to allow PowerHouse to continue to contribute to 
enhancing our world by helping end mis-managed waste plastic, creating 
electricity where it's needed, and providing a distributed system of hydrogen 
production for the burgeoning hydrogen economy. 
 
We have made significant strides to successfully commercialise DMG® for 
world-wide roll-out. The team that PowerHouse is building is up to the task.  I 
intend to make myself available as, or when, needed for consultation as I 
attend to personal matters in the United States.  I have every confidence in 
this management team, in the Board of Directors, and our varied partners, here 
in the UK, and around the world to bring PowerHouse the success it deserves, 
and the world needs." 
 
Cameron Davies, Chairman of PowerHouse Energy commented: 
 
"Keith has stewarded PowerHouse through challenging and changing times over his 
tenure on the board and leading the management team; he has been responsible 
for considerable achievements for which we are very grateful. We wish him every 
success in his future challenges and we respect his privacy at this time. 
 
ENDS 
 
For more information, contact: 
 
PowerHouse Energy Group plc                                  Tel: +44 (0) 203 
368 6399 
David Ryan, Chief Executive Officer 
 
WH Ireland Limited (Nominated Adviser)            Tel: +44 (0) 207 220 1666 
James Joyce /Chris Viggor 
 
Turner Pope Investments Ltd (Joint Broker)        Tel: +44 (0) 203 621 4120 
Ben Turner /James Pope 
 
Ikon Associates (Media enquiries)                          Tel:    +44 (0) 1483 
271291 
Adrian Shaw 
                Mob: +44 (0) 7979 900733 
 
Notes for editors: 
 
About PowerHouse Energy 
 
PowerHouse Energy 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 EcoSynthesis gas 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 in excess of 1 tonne of road-fuel 
quality H2, and more than 28MW/h 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 
 
 
 
END 
 

(END) Dow Jones Newswires

February 01, 2019 02:00 ET (07:00 GMT)

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