Business
Collaboration Agreement of up to £500,000
Collaboration Agreement of up to £500,000.
About this update from Powerhouse Energy Group Plc
[{"type":"text","content":"\n \n5 June 2017\n\nPowerHouse Energy Group Plc(“PowerHouseâ€, or the “Companyâ€)\n\nPHE Collaboration Agreement of up to £500,000\n\nPowerHouse Energy Group Plc (AIM: PHE), the company focused on ultra high temperature gasification waste to energy systems, and the creation of Distributed Modular Gasification© (DMG), is delighted to announce a collaboration agreement with a UK partner involved in the development of energy and waste projects.\n\nSubject to achieving certain performance milestones of the G3-UHt demonstration unit sited at Thornton Science Park and to entering into an option to lease land to site the units, the partner has committed two tranches of funding of up to £500,000 in aggregate to meet the cost of preparing and funding applications for planning permission and environmental permits of the initial demonstration unit and first five PHE Waste-to-Energy G3-UHt systems.\n\nThe agreement will require PowerHouse to supply five systems at locations of the partners' choosing on a prioritised basis, based upon the completion of UK Certifications and demonstration of the G3-UHt unit in active operation.\n\nKeith Allaun, Executive Chairman of PowerHouse, said: “It is gratifying and reassuring to have attracted a significant and large corporate partner to work with PHE and Waste2tricity Ltd in rolling out Distributed Modular Gasification© in the UK. DMG systems allow for the environmentally responsible conversion of waste into electricity and the creation of distributed hydrogen for commercial uses. This event marks a turning point in the commercial development of the Company. Our engineering team continues to meet its objectives and we look forward to the public demonstration of the G3-UHt system in the coming period.\" \n\nFor more information, contact:\n\n\n\nPowerHouse Energy Group plcKeith Allaun, Executive Chairman\nTel: +44 (0) 203 368 6399\n\n\n\nWH Ireland Limited (Nominated Adviser)James Joyce / James Bavister\nTel: +44 (0) 207 220 1666\n\n\n\nTurner Pope Investments Ltd (Joint Broker)Ben Turner / James Pope\nTel: +44 (0) 203 621 4120\n\n\n\nSmaller Company Capital Limited (Joint Broker)Jeremy Woodgate\nTel: +44 (0) 203 651 2910\n\n\n\nIFC Advisory (Financial PR & IR)Tim Metcalfe / Miles Nolan\nTel: +44 (0) 203 053 8671\n\n\n\n\n\n\n\n\nAbout PowerHouse Energy\n\nPowerHouse is ...