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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
  0.04 1.27% 3.20 3.10 3.20 3.15 3.05 3.10 4,534,373 16:35:01
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Alternative Energy 0.0 -1.7 -0.1 - 119

Powerhouse Enrgy Grp Directorate Changes

20/11/2020 3:11pm

UK Regulatory (RNS & others)


 
TIDMPHE 
 
Powerhouse Energy Group plc 
 
                        ("Powerhouse" or the "Company") 
 
20 November 2020 
 
                              Directorate changes 
 
Powerhouse Energy Group plc (AIM: PHE), the UK technology company 
commercialising hydrogen production from waste plastic, announces that David 
Ryan will step down from his full-time role as Chief Executive Officer of the 
Company on 30 June 2021. Thereafter he will continue to work for Powerhouse as 
a consultant to help ensure the successful completion and commissioning of our 
first DMG plant at Protos. 
 
 
The board will now commence a search process to recruit Mr Ryan's successor. 
 
 
The board has also accepted Mr Ryan's request to concentrate specifically on 
the technology, delivering the application on the Protos project and on 
building Powerhouse's executive management and operating teams. He will 
therefore relinquish responsibility for PR, IR, stock market relations and for 
some international business development work. 
 
 
During the transitional period before a new Chief Executive Officer is in post 
Tim Yeo, the Company's Non-Executive Chairman, will be responsible for these 
functions and will be designated Executive Chairman. 
 
Tim Yeo, Chairman of Powerhouse Energy Group said: 
 
"David Ryan has rendered outstanding service to Powerhouse during his time as 
Chief Executive and overseen enormous progress for which I am very grateful. 
The board is very pleased that he will be continuing as a consultant after he 
steps down as CEO to help us deliver the Protos plant. In addition to driving 
this project forward David will spend the next seven months building the 
executive management team which will complete Powerhouse's transition to a 
fully operational company. We look forward to welcoming a new Chief Executive 
Officer in due course." 
 
David Ryan, Chief Executive Officer, said: 
 
"Powerhouse is at a critical stage of its development, we are a company poised 
for growth in the next decade. I believe that putting the team in place for 
that delivery during the project in coming months will have the benefit of 
providing them with the delivery experiences to guide future decisions. My 
challenge will be to concentrate on the key issues to deliver an operating 
process to specification and to nurture a younger team to deliver growth for 
the next decade." 
 
                                    -ENDS- 
 
For more information, contact: 
 
Powerhouse Energy Group plc                 Tel: +44 (0) 203 368 6399 
 
Tim Yeo, Executive Chairman 
 
WH Ireland Limited (Nominated Adviser)      Tel: +44 (0) 207 220 1666 
 
James Joyce/Lydia Zychowska 
 
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 
 
SistersmithPR (Media enquiries) 
 
Becca Smith 
    Mob: +447766522305 
 
Notes for editors: 
 
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. Powerhouse's technology is one of the 
world's first proven, distributed, modular, hydrogen from waste (HfW) process. 
 
The Powerhouse DMG® 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.net 
 
 
 
END 
 

(END) Dow Jones Newswires

November 20, 2020 10:11 ET (15:11 GMT)

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