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
  -0.018p -3.96% 0.437p 0.43p 0.48p 0.455p 0.437p 0.455p 103,774 08:10:50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - - -

Powerhouse Enrgy Grp Operational Update

15/02/2019 7:00am

UK Regulatory (RNS & others)


 
TIDMPHE 
 
PowerHouse Energy Group plc 
 
                        ("PowerHouse" or the "Company") 
 
15th February 2019 
 
                              Operational update 
 
PowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering 
hydrogen and clean energy production from waste plastic and used tyres is 
pleased to update stakeholders on recent progress. 
 
The level of interest in the PowerHouse proprietary DMG® process from potential 
customers, development partners and engineering, procurement and construction 
(EPC) contractors has increased significantly in the last quarter. Most of the 
interest expressed has comprised specific enquiries that have been or are being 
taken through a screening process prior to formal proposals. As a consequence, 
we are progressing a number of potential deals in parallel, which we are 
confident will result in a final contract for the first commercial DMG®. We 
also have strong expressions of interest from over a dozen site owners who 
would like to establish DMG® units on their sites once our first unit is proven 
operationally. 
 
We are currently collaborating on detailed site operational requirements, 
delivery programmes and framework contracts for 6 client sites in the UK where 
it is anticipated that the DMG® process will be utilised first. As part of this 
process, potential customers or partners are undertaking their own due 
diligence on the DMG® process, potential operational savings and the speed with 
which plants can be delivered.  When this process is complete, heads of terms 
would need to be agreed before signing a formal contract. We would anticipate 
reaching a head of terms with at least one customer in the next quarter. 
Signing of contracts would initiate revenue generation for PowerHouse. 
 
Our planned delivery programme for the UK is that DMG® systems will be bought 
by partners and customers and located on host waste sites, with revenues for 
PowerHouse arising from sales and licences.  We are in the process of 
progressing planning and permitting assessments on the potential clients' sites 
under negotiation, in readiness for formal submission on initial contractual 
agreement. 
 
It is anticipated that engineering and site assembly of each DMG® unit will 
involve an EPC partner. We have been approached by several blue-chip companies 
who would like to be considered to fulfil this role, each with worldwide 
delivery capability. To support this contractual engagement, PowerHouse has 
already put in place all the operational systems, procurement, contractual and 
licensing frameworks necessary to engage with such EPC partners. 
 
In addition to the UK, we have targeted the established Japanese hydrogen 
markets. Our development partner Waste2Tricity (W2T) is now in commercial 
negotiation with Toyota Tsusho Corporation, which we believe could lead to 
Toyota Tsusho Corporation agreeing to be one of the companies introducing our 
DMG® technology for hydrogen generation into Japan and other parts of Asia. 
 
David Ryan, CEO of PowerHouse, commented: "Considerable progress has been made 
in terms of us maturing negotiations towards final contract stage and in 
dealing with the substantial increase in commercial leads. The PowerHouse 
commercial and engineering teams and our project development partners W2T have 
dealt with the increase in such interest magnificently, screening 
opportunities, delivering proposals to potential customers and proactively 
following up as appropriate and, importantly, within budget.  I am confident 
that we will sign heads of terms with at least one of these in the next 
quarter. 
 
"Our core focus is on securing the first contract, and the significant strides 
we have made in recent months and weeks are a strong indicator of the solid 
progress being made towards building the first DMG® plant." 
 
                                     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 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 
 
 
 
END 
 

(END) Dow Jones Newswires

February 15, 2019 02:00 ET (07:00 GMT)

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