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
  -0.035 -2.22% 1.54 1.45 1.55 1.60 1.40 1.575 77,790,518 16:35:20
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Alternative Energy 0.0 -2.5 -0.2 - 31

POWERHOUSE ENERGY GROUP PLC - Grant for DMG Hydrogen from Waste Development at Protos

06/01/2020 7:00am

PR Newswire (US)


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PowerHouse Energy Group plc

("PowerHouse" or the "Company")

6th  January 2020

Grant for DMG Hydrogen from Waste Development at Protos

PowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering hydrogen production from waste plastic, is delighted to announce that a grant of £1.25m has been awarded to, Waste2tricity Protos Ltd, for the DMG® Hydrogen from Waste development at Protos, near Ellesmere Port, in Cheshire.

The Company’s development partner Waste2Tricity (W2T) have secured the grant for the development on behalf of its subsidiary following a successful application to the £4.1m Energy Fund competition, run by Cheshire and Warrington Local Enterprise Partnership (LEP) as part of the Local Growth Fund (LGF),  which awards capital grants for projects that can support the objectives of the LEP’s Energy and Clean Growth Strategy.

The £1.25m grant is to fund purchase of the thermal conversion chamber, a core element  of the DMG® hydrogen from plastic waste plant and will be subject to the DMG development at Protos achieving planning approval and funding by the end of March 2020.

David Ryan, CEO of PowerHouse Energy said:

“We congratulate W2T and Peel on securing this award from Cheshire and Warrington Local Enterprise Partnership,  representing confidence in our DMG process as an important technology to deliver clean energy from unrecyclable waste plastic.Furthermore we are delighted and encouraged to be recognised as a component in the North West Region’s strategy to provide clean growth.”

Robert Mee DL, LEP Board Member and Chair of the Strategy Board said:

The LEP is clear in its ambition to be a leader in clean growth and developed the Energy Fund to support the sector in accelerating the pace and scale of innovation in energy technology and distribution. W2T’s application to the fund clearly made the case for the benefits of plastics recycling in the creation of hydrogen fuel, with their proposed  £20m plant in Ellesmere Port set to be a UK leader in this field.”

Tim Yeo, Chairman of Waste2Tricity said:

“This grant offer recognises the importance of the PHE DMG technology and the impact it may have on assistuing Cheshire and Warrington and potentially the country to the target of net zero emissions – through the creation of hydrogen fuel from waste plastic.  Cheshire and Warrington’s Energy and Clean Growth Strategy shows leadership in this area, one that the rest of the country should look to”.

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 Savidge
Turner Pope Investments Ltd (Joint Broker) Tel: +44 (0) 203 657 0050
Andrew Thacker / Zoe Alexander
Ikon Associates (Media enquiries) Tel: +44 (0) 1483 271291
Adrian Shaw Mob: +44 (0) 7979 900733

About PowerHouse Energy Group plc

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 up to 2 tonnes of road-fuel quality H2, and more than 58MW/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 Limited

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 L&P, owns and develops waste infrastructure projects. It has achieved consent for a range of energy infrastructure schemes including a 49MW 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.   www.peelenvironmental.co.uk

Peel Environmental brought forward and consented the Protos development, previously known as Ince Resource Recovery Park. 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.

www.protos.co.uk  @ThisIsProtos

Protos sits within the Energy Innovation District (EID) which brings together energy users, network owners, innovators and partners working alongside Cheshire & Warrington LEP, Cheshire West and Chester Council and the University of Chester. With the objective of driving down the cost of clean energy the EID is an opportunity to deliver a new decarbonised energy system for the North West of England, meeting the Government’s Clean Growth agenda while boosting economic growth and investment.

www.energyinnovationdistrict.com

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