Powerhouse Enrgy Grp Memorandum of Understanding

 
TIDMPHE 
 
20 February 2018 
 
                          PowerHouse Energy Group plc 
                        ("PowerHouse" or the "Company") 
 
                          Memorandum of Understanding 
 
PowerHouse Energy Group plc (AIM: PHE), the UK Waste-to-Energy company seeking 
to develop hydrogen production from waste plastic and used tyres, is pleased to 
announce a partnership Memorandum of Understanding ("MOU") with Wrightbus Ltd 
("Wrightbus"), a leading bus manufacturer whose products include innovative 
hydrogen powered buses. 
 
This MOU was negotiated in collaboration with Waste2tricity Ltd as part of its 
commercial partnership with PowerHouse as its Project Development Consultant. 
The MOU is non binding and although there can be no certainty a binding 
agreement will be entered into, the Board of PowerHouse expects this to lead to 
a definitive agreement under which Wrightbus will supply hydrogen fuel powered 
buses and PowerHouse will provide access to its Distributed Modular 
Gasification ("DMG®") system for the low cost and environmentally responsible 
production of hydrogen. 
 
It is expected that this first-of-its-kind turnkey solution will be marketed to 
local authorities and public transport providers in the UK and internationally 
with a particular focus on city centres, where the lack of emissions generated 
by hydrogen fuel cell buses bring important environmental and quality-of-life 
benefits. PowerHouse's compact DMG® system, has the capacity to process 25 
tonnes of plastic per day, and would have the potential to provide hydrogen to 
fuel buses and also provide electricity for sale to either the national grid or 
private clients. 
 
The DMG® system has the potential to enable hydrogen to be produced locally 
from small-scale plastic processing plants and sold at a cost competitive with 
petrol and diesel. To date the production and distribution costs of hydrogen 
produced from Natural Gas has been prohibitive and produced considerable CO2 
emissions. PowerHouse believes it can change the economics of that situation 
with carbon neutral hydrogen. 
 
Keith Allaun, CEO of Powerhouse, commented: 
 
"We're delighted to announce this MOU with an alternative energy leader like 
Wrightbus - an innovator in clean public transport. Together, we believe we 
have the potential to offer a cost-effective turnkey solution in which we will 
produce hydrogen using our DMG® process to produce the road fuel for 
Wrightbus's zero emission hydrogen buses. This is the model by which we can 
begin to change the environment. Together we offer a compelling proposition for 
transport providers such as a local authority in which they would be able to 
offer a zero emission bus service at the same cost as diesel transportation, 
with zero emissions, and converting waste into hydrogen and electricity. Given 
our shared corporate objectives to make a positive difference to our world 
profitably, PowerHouse and Wrightbus are an ideal match." 
 
For more information, contact: 
 
PowerHouse Energy Group plc                    Tel: [phone] 
Keith Allaun, Chief Executive Officer 
 
WH Ireland Limited (Nominated Adviser)         Tel: [phone] 
James Joyce / Alex Bond 
 
Turner Pope Investments Ltd (Broker)           Tel: [phone] 
Ben Turner / James Pope 
 
Buchanan (Media enquiries)                     Tel: [phone] 
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 that allows the distributed eradication of waste, the 
generation of distributed electricity, and the production of distributed 
hydrogen with the world's first hydrogen from waste (HfW) process. 
 
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 and is 
incorporated in the United Kingdom. 
 
For more information see www.powerhouseenergy.net 
 
 
 
END 
 

(END) Dow Jones Newswires

February 20, 2018 02:00 ET (07:00 GMT)