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
  -0.05 -4.0% 1.20 1.15 1.25 1.25 1.20 1.25 5,722,253 10:38:52
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Alternative Energy 0.0 -2.5 -0.2 - 24

Powerhouse Enrgy Grp PowerHouse in Negotiations to Acquire W2T Limited

23/12/2019 7:00am

UK Regulatory (RNS & others)


 
TIDMPHE 
 
PowerHouse Energy Group plc 
 
                        ("PowerHouse" or the "Company") 
 
                                                            23rd  December 2019 
 
          PowerHouse in Negotiations to Acquire Waste2Tricity Limited 
 
PowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering 
hydrogen production from waste plastic, is pleased to announce that it is in 
advanced negotiations to aquire its development partner Waste2Tricity Limited 
("W2T"). 
 
The Company has entered into a heads of terms with a view to finalising a 
formal sale and purchase agreement in Q1 2020. The acquisition would  be in the 
form of a non-cash transaction using PowerHouse shares to acquire the whole of 
the issued share capital of W2T, at a ratio of 60% PowerHouse to 40% W2T, with 
87.5% of the Powerhouse shares issued in exchange for W2T shares being locked 
into a no-sale agreement for a minimum of a year, and orderly market 
arrangements for a further year. The agreement will be subject to shareholder 
and regulatory approval. 
 
The directors of PowerHouse believe that the post-acquisition enlarged company 
will be better understood by its customers and investors, with rights to 
markets and developments in-house, and will be able to present a clear and 
unambiguous message about its innovative British technology which provides a 
solution to the increasing problem of unrecyclable waste plastic. 
 
These negotiations are progressing well and are now subject to final 
documentation. A further announcement will be made in due course as 
appropriate. 
 
For more information, contact: 
 
PowerHouse Energy Group plc          Tel: +44 (0) 203 368 
                                     6399 
 
Dr. Cameron Davies, Chairman 
 
WH Ireland Limited (Nominated        Tel: +44 (0) 207 220 
Adviser)                             1666 
 
James Joyce / Chris Savidge 
 
Turner Pope Investments Ltd (Joint   Tel: +44 (0) 203 621 
Broker)                              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 
 
 
 
END 
 

(END) Dow Jones Newswires

December 23, 2019 02:00 ET (07:00 GMT)

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