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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
  0.165 4.05% 4.24 4.20 4.30 4.25 4.0925 4.10 3,564,410 16:35:26
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Alternative Energy 0.1 -16.0 -0.6 - 167

Powerhouse Energy Group PLC SWECO to support Powerhouse technology in Poland

11/06/2021 7:00am

RNS Non-Regulatory


TIDMPHE

Powerhouse Energy Group PLC

11 June 2021

11th June 2021

Powerhouse Energy Group plc

("Powerhouse" or the "Company")

SWECO engineering consultancy to support Powerhouse technology in Poland

Powerhouse Energy Group plc (AIM: PHE), the UK technology company commercialising hydrogen production from waste plastic, is pleased to announce the engineering consultancy, SWECO, has been appointed to prepare concept design and an Environmental Impact Assessment report for the waste-to-hydrogen project in Konin, Poland.

Hydrogen Utopia International Ltd., through its Polish subsidiary Hydropolis United sp. z o.o, signed an agreement with SWECO on June 9th 2021.

This appointment follows the non-binding Heads of Terms which Powerhouse Energy Group plc (AIM: PHE), signed with HUI in November last year for the application of its technology in Poland.

Tim Yeo, Executive Chairman of Powerhouse Energy said : "We are delighted SWECO has been appointed to help rollout Powerhouse Energy technology in the city of Konin, Poland. The rollout in Europe of Powerhouse Energy technology is underway and it will soon be helping Poland on their clean energy transition, helping it meet its net zero targets".

Dariusz Czerniak, SWECO, Director, Energy Department said : "It is our privilege to work closely with Hydrogen Utopia International on the PHE DMG(R) system, as it is a novel, 4.0. technology. We believe that the DMG(R) solution can tackle the global growing plastic waste problem. The DMG(R) system will also enhance the transition of the hydrogen economy and we are proud to be a part of this exciting future for Poland".

Aleksandra Binkowska, CEO of Hydrogen Utopia International said: "The DMG(R) system is a global revolution and it is reassuring to have SWECO on my side to build the first one in Poland. I am sure that this is just the beginning of a long-standing and prosperous alliance between the two Companies. The ultimate goal is to build at least ten systems in Konin in order to create the first Polish Centre of Hydrogen. It was my vision and it is a privilege to turn this vision into reality together with SWECO".

Earlier this year Powerhouse Energy Group plc (AIM: PHE), also agreed to sign non-binding Heads of Terms with Hydrogen Utopia International ("HUI") with a view to granting an exclusive non-transferable licence for the application of its DMG(R) technology in Greece and Hungary.

-ENDS-

For more information, contact:

 
 Powerhouse Energy Group plc        Tel: +44 (0) 203 368 
                                     6399 
 T im Yeo, Executive Chairman 
 
 WH Ireland Limited (Nominated      Tel: +44 (0) 207 220 
  Adviser)                           1666 
 James Joyce/ Lydia Zychowska 
 
 Turner Pope Investments (TPI)      Tel: +44 (0) 203 657 
  Ltd (Joint Broker)                 0050 
 Andrew Thacker 
 
 SisterSmith PR (media enquiries) 
  Becca Smith                         Mob: + 44 (0) 7766522305 
 

Notes to Editors:

About Powerhouse Energy Group plc

Powerhouse has developed a proprietary process technology - DMG(R) - 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. Powerhouse's technology is one of the world's first proven, distributed, modular, hydrogen from waste (HfW) process.

The Powerhouse DMG(R) process can generate up to 2 tonnes of road-fuel quality hydrogen and more than 58MWh of exportable electricity per day.

Powerhouse's process produces low levels of safe residues and requires a small operating footprint, making it suitable for deployment at enterprise and community level. As announced on 11th February 2020 under its Supplemental Agreement with Peel Environmental, Powerhouse will receive an annual license fee of GBP500,000 in respect of each project which is commissioned.

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.co.uk

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END

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June 11, 2021 02:00 ET (06:00 GMT)

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