Powerhouse Enrgy Grp Heads of Terms agreed for licence of DMG technology

 
TIDMPHE 
 
12th November 2020 
 
                          Powerhouse Energy Group plc 
 
                        ("Powerhouse" or the "Company") 
 
         Heads of Terms agreed for licence of DMG technology in Poland 
 
Powerhouse Energy Group plc (AIM: PHE), the UK technology company 
commercialising hydrogen production from waste plastic, is pleased to announce 
that yesterday (11.11.2020) it signed non-binding Heads of Terms with Hydrogen 
Utopia International Limited (HUI) with a view to granting HUI an exclusive 
non-transferable licence for the application of its DMG® technology in Poland. 
 
The use of this technology, which is designed to convert waste plastic into a 
syngas and/or hydrogen, will be subject to a formal agreement being reached 
between Powerhouse and HUI. 
 
Tim Yeo, Chairman of Powerhouse Energy Group, said: 
 
"We are delighted to have signed Heads of Terms with HUI.  Powerhouse look 
forward to working with HUI on the potential use of our DMG technology being 
rolled out in Poland." 
 
Aleksandra Binkowska, Founder of HUI, said: 
 
"It is a privilege and honour for HUI to enter into heads of terms in relation 
to rights to the technology of Powerhouse as the first company on the 
Continent. At HUI we believe that the DMG System is the one that will help save 
the world from unrecyclable plastic and we are thrilled that Poland will lead 
the way in creating low cost hydrogen and we hope that other countries will 
take our lead. On behalf of HUI I would like to thank the Board of Powerhouse 
for this opportunity and partnership." 
 
Following this signing HUI paid Powerhouse a non-refundable deposit of EUR 
100,000. 
 
More information about HUI's plans for the rollout of the technology in Poland 
and the partners with whom it will be working in Poland will be published in 
due course. 
 
                                    -ENDS- 
 
For more information, contact: 
 
Powerhouse Energy Group plc                 Tel: [phone] 
 
David Ryan, Chief Executive Officer 
 
WH Ireland Limited (Nominated Adviser)      Tel: [phone] 
 
James Joyce/Lydia Zychowska 
 
Turner Pope Investments Ltd (Joint Broker)  Tel: [phone] 
 
Andrew Thacker/Zoe Alexander 
 
Ikon Associates (Media enquiries)           Tel: [phone] 
 
Adrian Shaw                                 Mob: [phone] 
 
SistersmithPR (Media enquiries) 
 
Becca Smith 
    Mob: [phone] 
 
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 
 
About Hydrogen Utopia International 
 
Hydrogen Utopia International was founded in 2020 by Aleksandra Binkowska with 
the aim to turn Poland and the EU to net positive through using unrecyclable 
plastic and transforming it into low cost hydrogen and electricity. The UK 
based technology company is actively working with the EU to gain funding and 
subsidies for the first waste to energy DMG plant in Konin, Poland. 
 
 https://www.hydrogenutopia.eu/ 
 
 
 
END 
 

(END) Dow Jones Newswires

November 12, 2020 02:00 ET (07:00 GMT)