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 First Revenue Contract for PowerHouse Energy

17/04/2019 7:00am

UK Regulatory (RNS & others)


 
TIDMPHE 
 
PowerHouse Energy Group plc 
 
                    ("PowerHouse Energy" or the "Company") 
 
17 April 2019 
 
                 First Revenue Contract for PowerHouse Energy 
 
PowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering 
hydrogen and clean energy production from waste plastic, is pleased to announce 
that it has signed a binding contract with its exclusive partner, Waste2Tricity 
Limited ("W2T"), for PHE to provide planning and engineering design services 
that will, subject to successful outcome, lead to a build contract and  license 
for use of the DMG® Technology at the Protos site. The agreement defines the 
paid scope of works during two stages of planning and engineering. At 
signature, based on quotations from potential Contractors PHE provisionally 
anticipates that total revenue from the two stages of the contract will amount 
to approximately GBP400,000 to cover PHE and Contractors costs. 
 
The engineering design services to be provided by PHE for stage one includes 
specific feedstock analysis and testing including some third party services, 
site modelling and specific engineering related to the Protos site.  This work 
will define the parameters for the second stage of the project, the Front End 
Engineering Design (FEED) contract which it is anticipated will be placed with 
an Engineering, Procurement & Construction (EPC) contractor, following an 
agreed review. 
 
The agreement also incorporates Heads of Terms in relation to PHE acting as 
operational process engineering supplier for the DMG® Technology at the Protos 
site, encompassing design rights, build contracts and licensing proposition of 
its technology. 
 
This contract comprises another step towards achieving Financial Close for the 
first commercial site utilising PHE's DMG Technology. 
 
David Ryan, CEO of PowerHouse Energy, commented: 
 
"This is the first revenue generating contract signed by PHE and follows the 
typical revenue regime we will be following for future developments, 
recognising that more substantial revenues will arise from IP, Design Rights, 
and licensing and operational engineering in due course.  This agreement 
demonstrates that W2T expects that a special purpose vehicle formed by it 
intends to place a formal order for DMG® when the Pre-FEED and FEED work is 
complete. We thank W2T for their commitment and long standing support." 
 
John Hall, Chairman of Waste2Tricity (Protos) Limited commented: 
 
"This agreement formalises our commitment to implement DMG® Technology on the 
Protos site. We are working closely in partnership with Peel Environmental, the 
overall Protos Energy Hub site owners, to finalise all the design parameters 
with PHE to take the development to the FEED stage and through to fabrication 
and construction as soon as practical." 
 
David Ryan, CEO of PowerHouse Energy, further commented: 
 
"We have delivered this agreement in line with our expectations this quarter 
and we are thankful to our shareholders who have supported us over the years to 
develop this ground breaking technology to this point of commercialisation and 
revenues. 
 
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 and DMG technology 
 
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 syngas 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 
 
About Waste2Tricity (Protos) Limited 
 
Waste2Tricity (Protos) Limited (W2TP) is the SPV (Special Purpose Vehicle) for 
the implementation of energy-from-waste facilities at the Protos site and has 
been set up by W2T the development partners of PHE. 
 
Waste2Tricity is a structured solutions provider to the energy-from-waste (EfW) 
sector, an industry supplying increasing amounts of electricity using feedstock 
diverted from landfill. 
 
Waste2Tricity works with clients and partners to develop, fund and support EfW 
deployment projects that use proven technology, are profitable and progressive; 
projects that currently use high temperature gasification and either steam 
cycle or internal combustion engines/gas turbines (ICEs/GTs) to efficiently 
convert waste to energy. 
 
For more information see www.waste2tricity.com 
 
About Peel Environmental and Protos 
 
Peel Environmental, part of Peel Land and Property (Peel L&P), owns and 
develops waste infrastructure projects. It has achieved consent for a range of 
energy infrastructure schemes including a 35MW Energy from Waste plant at 
Protos in Cheshire, 21MW Energy from Waste plant and 250,000tpa AD and MRF in 
Glasgow; and a 20MW Energy Centre at Houghton Main, Barnsley. Peel works with 
investors, waste management companies, technology providers and contractors to 
secure a deliverable business model for each project. 
 
Peel Environmental brought forward and consented the Protos development, 
previously known as Ince Resource Recovery Park. Protos is the destination of 
choice for energy, innovation and industry. Boasting unrivalled connections to 
some of the region's biggest industrial forces, Protos is a strategic energy 
hub at the core of the Northern Powerhouse. 
 
The 54ha (134 acres) development site has full outline planning consent and 
part detailed planning consent for general manufacturing and distribution uses 
(B1, B2 & B8), as well as a biomass facility and an Energy from Waste facility. 
Set on the south bank of the Manchester Ship Canal in the North West of 
England, the site is ideally placed to become an industrial micro-climate, with 
enviable transport links providing access to UK and International markets and 
surrounding industrial heartland. 
 
For more information about Protos visit: www.thisisprotos.com 
 
 
 
END 
 

(END) Dow Jones Newswires

April 17, 2019 02:00 ET (06:00 GMT)

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