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
  0.00 0.0% 1.25 1.20 1.30 1.25 1.25 1.25 1,173,282 07:46:22
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Alternative Energy 0.0 -2.5 -0.2 - 25

POWERHOUSE ENERGY GROUP PLC - Protos Development Funding

19/12/2019 7:00am

PR Newswire (US)


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PowerHouse Energy Group plc

("PowerHouse" or the "Company")

19th December 2019

Protos Development Funding

PowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering hydrogen production from waste plastic, is pleased to announce significant progress towards the first commercial operation of DMG® Technology at Protos in the UK.

Peel L&P Environmental, have completed their review of the completed engineering work and moved to commitment to the next stage of development and engineering for the Protos Energy Park. Peel are committing to fund the next stage of development of the DMG® plant at Protos up to a financial close, the point at which full project third party funding is secured.

With preliminary engineering for the site having been completed, the design has progressed such that the DMG® facilities at Protos would now have the capacity to process 35 tonnes per day of waste plastics, targeting to produce 3.8MWe on site and exporting 3.4MWe electricity and up to 2 tonnes of hydrogen per day from the site. The planning permission application is currently under review.

In the next stage Peel will place contracts with engineering contractors for the management, civil and plant engineering design all of which are expected to be placed in January 2020. The Peel commitment will extend to other site planning, feedstock and site infrastructure activities, including the provision of engineering services by PHE.

This next stage in the project forms part of the collaboration agreement signed in August 2019 with Peel Environmental and Waste2tricity to develop a minimum of 11 sites in the UK for DMG® facilities. All parties in the collaboration have also been involved in developing the future deployment plans across the other 10 sites and further announcements will be made when these commitment contracts are completed.

Peel have a strategy to develop “Plastic Parks” where waste plastics are recycled and regenerated. Peel’s plans are to bring together potential counterparties for waste, power and hydrogen with a nett negative CO2 contribution for each site. PHE’s DMG® process will be an enabling technology to ensure no plastic is sent to landfill from these sites by regenerating the waste plastic into power and hydrogen.

David Ryan, CEO of PowerHouse Energy, commented:

“This agreement represents the completion of the preliminary engineering stage and I am most encouraged that the PHE team have achieved a major uplift in the performance of the DMG process, including almost doubling the hydrogen output to 2 tonnes, significantly enhancing our partners commercial drivers. The commitment demonstrates significant commercial confidence from Peel L&P Environmental to the immediate and long-term deployment of the process in the UK.”

Myles Kitcher, Managing Director of Peel L&P Environmental commented:

“This further agreement reflects the confidence we have in the DMG Technology which will enable us to tackle the plastic challenge head on with an integrated approach to recycling and energy recovery. DMG allows us to eliminate landfill from our site, by regeneration of wasted plastic into power and hydrogen.

“We are excited to be implementing our strategy in partnership with PowerHouse Energy and for Protos to be the first application of their ground-breaking technology to improve the waste management process and the environment in the UK.”

Tim Yeo, Chairman of Waste2Tricity commented:

“We are delighted with this significant step forward to the deployment of an environmentally important technology. We warmly welcome the closer involvement of Peel L&P Environmental in the development of the DMG Technology.”

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) 203 621 4120
Ben Turner / James Pope
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 L&P Environmental and Protos

Peel L&P 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

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