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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
  0.05 1.16% 4.35 4.20 4.50 4.35 4.25 4.25 2,474,994 08:11:44
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Alternative Energy 0.1 -16.0 -0.6 - 171

Powerhouse Enrgy Grp Second UK site for Powerhouse technology

01/06/2021 7:00am

UK Regulatory (RNS & others)


 
TIDMPHE 
 
1st June 2021 
 
                          Powerhouse Energy Group plc 
 
                        ("Powerhouse" or the "Company") 
 
                   Second UK site for Powerhouse technology 
 
Powerhouse Energy Group plc (AIM: PHE), the UK technology company 
commercialising hydrogen production from waste plastic, is pleased to announce 
that Peel NRE, part of Peel L&P, is planning to develop its second waste 
plastic to hydrogen facility, using Powerhouse technology, at the Rothesay Dock 
on the north bank of the River Clyde, West Dunbartonshire. 
 
The 13,500 tonne facility will be the second in the UK to use pioneering DMG® 
 technology developed by Powerhouse Energy Group plc, after plans for a similar 
facility at Peel NRE's Protos site in Cheshire were approved in 2019. 
 
Tim Yeo, Executive Chairman of Powerhouse Energy Group, said: 
 
"We are delighted Powerhouse technology is to be deployed in Scotland, helping 
the region improve air quality and provide a solution to end-of-life 
plastic.  This new facility will play an important role in supporting the 
objective of both Holyrood and Westminster to make hydrogen a key element of 
Scotland's decarbonisation strategy.  We welcome plans to co-locate a 
re-fuelling station at the site which will help increase uptake of hydrogen 
fuel in the region and add to Scotland's growing hydrogen economy.  All eyes 
are on Scotland ahead of the important COP26 meeting in Glasgow later this 
year, so we are delighted our pioneering, clean energy technology will help put 
Scotland on the path to net zero". 
 
Richard Barker, Director at Peel NRE, part of Peel L&P, said: 
 
"Plastic is often demonised, but we have seen how essential it is in industries 
like healthcare. We do need to recycle as much of this plastic as possible and 
also get as much value from unrecyclable, end-of-life plastic. This facility 
will convert plastic into hydrogen a clean fuel that produces no emissions at 
the point of use, helping to improve local air quality. By co-locating a 
refuelling station, we can help to kick start the infrastructure needed to 
support the rollout of hydrogen vehicles which will be an important part of our 
journey to net zero." 
 
Decisions about the financing of this second plant will be made after land use 
planning consent has been obtained and closer to the start date for 
construction. Details of this will be announced at that time. 
 
                                    -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  (TPI) Ltd      Tel: +44 (0) 203 657 
(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® - 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 
 
 
 
END 
 
 

(END) Dow Jones Newswires

June 01, 2021 02:00 ET (06:00 GMT)

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