14/08/2019 10:04:00

AGM Statement


PR Newswire

14 August 2019

PowerHouse Energy Group plc

("PowerHouse" or the "Company")

Annual General Meeting Chairman’s Statement

PowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering hydrogen production from waste plastic, advises that at its Annual General Meeting (“AGM”) which will take place at 12 noon today, 14 August 2019, at the offices of WH Ireland, 24 Martin Lane, London EC4A 0DR, the Chairman, Dr Cameron Davies, will make the following statement:

We have announced our first build for a commercial DMG®plant at the Protos Energy Park and the first stage of the engineering work has been completed allowing public and council consultation on behalf of our customers to facilitate planning submission.

We have engaged with the engineering and contracting community and we have a number of quality assured delivery contractors for the stream of projects, including delivery options for international orders. Now with the active engagement of Peel, we anticipate taking this project to financial close as part of a funding arrangement for the eleven potential projects.

During this year we have streamlined our business focussing on the delivery of the first plant and in line with this we have secured first revenues and are now looking to receive trialling revenues from the equipment at the Energy Centre at University of Chester.

The consultancy, installation, operation and plant licensing revenues that these projects will deliver are the foundation of the company business and the Board is confident that the commencement of our paid activities and the ever growing level of commercial engagements, augmented now by Peel will  provide the necessary platform to establish PHE as a sustainable and profitable business with a strong market presence in the hydrogen economy.

Immediately following this announcement my colleague David Ryan, CEO of PowerHouse Energy Group, will give a strategic and operational update, the full supporting presentation of which is available on our website.”

For more information, contact:

PowerHouse Energy Group plc

Tel: +44 (0) 203 368 6399
David Ryan, Chief Executive Officer

WH Ireland Limited (Nominated Adviser)

Tel: +44 (0) 207 220 1666
James Joyce / Chris Savidge

Turner Pope Investments Ltd (Joint Broker)

Tel: +44 (0) 203 621 4120
Ben Turner / James Pope

Ikon Associates (Media enquiries)

Tel: +44 (0) 1483 271291
Adrian ShawMob: +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 in excess of 1 tonne 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

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