Powerhouse Enrgy Grp Exclusivity agreement signed with HUI

 
TIDMPHE 
 
31st August 2021 
 
                          Powerhouse Energy Group plc 
 
                        ("Powerhouse" or the "Company") 
 
Powerhouse signs binding exclusivity agreement to deploy technology in Poland, 
                              Greece and Hungary 
 
Powerhouse Energy Group plc (AIM: PHE), the UK technology company 
commercialising hydrogen production from waste plastic, is pleased to announce 
that it is has entered into a binding agreement (the "PGH Exclusivity 
Agreement") with Hydrogen Utopia International PLC ("HUI") under which HUI has 
been granted an exclusive non-transferable licence for the application of 
Powerhouse's DMG® technology in Poland, Greece and Hungary. HUI's corporate 
mission is to create a project pipeline for Powerhouse's DMG® technology in 
these regions through seeking funding from and partnering with states, regional 
authorities and the private sector in targeted regions to facilitate the 
deployment of DMG® technology. 
 
The PGH Exclusivity Agreement follows the agreement of non-legally binding 
heads of terms with HUI for Poland announced on 12 November 2020 and Greece and 
Hungary announced on 10 May 2021 and the payment by HUI to Powerhouse of 
deposits totalling ?125,000. Under the PGH Exclusivity Agreement, HUI will pay 
Powerhouse a further ?325,000 by the end of 2021, when the formal intellectual 
property licence for the DMG® technology is anticipated to have been granted to 
HUI, with a further ?300,000 to be paid 12 months later. A royalty fee will be 
agreed as part of the expected licence agreement. 
 
In addition, Powerhouse will continue to receive a licence fee for any DMG® 
plant which becomes operational in any location in the world. Consequently, the 
Company's worldwide rights to ongoing licensing fees for the DMG® technology 
are unaffected by the PGH Exclusivity Agreement. 
 
James Greenstreet, Non-Executive Chairman of Powerhouse Energy Group, said: 
 
"Powerhouse is pleased to sign this binding exclusivity agreement with HUI 
which is a champion of our technology, seeking to drive its rollout across 
Poland, Greece and Hungary. This builds on our announcement of 12 November 2020 
and is part of our long-term vision for DMG® technology to be deployed 
internationally, helping the world transition to clean energy whilst providing 
a solution to end-of-life plastic". 
 
Aleksandra Binkowska, CEO of HUI, said: 
 
"We are delighted to have formalised HUI's exclusivity arrangements for DMG® 
with Powerhouse for Poland, Greece and Hungary. HUI will use its local networks 
and relationships in the countries licensed to it to help to look to secure 
project approvals, finance and technical expertise to facilitate the deployment 
of DMG® technology. This will bring us closer towards our mission to accelerate 
the development of a circular and net zero carbon economy in Europe." 
 
More information about HUI's plans for the rollout of the technology in Poland, 
Greece and Hungary and the partners with whom it will be working with will be 
published in due course. 
 
                                    -ENDS- 
 
For more information, contact: 
 
Powerhouse Energy Group plc             Tel: [phone] 
                                        6399 
 
James Greenstreet, Non-Executive 
Chairman 
 
WH Ireland Limited (Nominated Adviser)  Tel: [phone] 
                                        1666 
 
James Joyce/ Lydia Zychowska 
 
Turner Pope Investments  (TPI) Ltd      Tel: [phone] 
(Joint Broker)                          0050 
 
Andrew Thacker / James Pope 
 
SisterSmith PR (media enquiries) 
Becca Smith                             Mob: [phone] 
 
Notes to 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 £500,000 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 
 
About Hydrogen Utopia 
 
Hydrogen Utopia International PLC was founded in 2020 by Aleksandra Binkowska 
and has subsequently received financial backing from a number of high net worth 
investors. HUI will initially focus its proposed rollout of DMG® technology on 
areas where substantial EU and/or government funded sources of grants and loans 
are available, such as the EU's "Just Transition Fund" which was set up to help 
fossil fuel dependent communities such as Konin in Poland transition towards 
climate neutrality, or where substantial private sector backing is accessible. 
 
For more information see www.hydrogenutopia.eu/ 
 
 
 
END 
 
 

(END) Dow Jones Newswires

August 31, 2021 02:00 ET (06:00 GMT)