Business
Collaboration Contract
Collaboration Contract.
About this update from Powerhouse Energy Group Plc
[{"type":"text","content":"\n \n12 August 2019\n\nPowerHouse Energy Group plc\n\n(\"PowerHouse\" or the \"Company\")\n\nCollaboration Contract with Peel Environmental for Eleven DMG® Sites\n\nPowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering hydrogen production from waste plastic, is pleased to announce it has entered into a collaboration contract (the “Collaboration Contractâ€) with Peel Environmental (“Peelâ€) and Waste2Tricity Limited (“W2Tâ€) to seek to develop a minimum of 10 further sites in the UK for DMG® facilities, in addition to the previously announced project at Protos Energy Park.\n\nPeel have a strategy to develop “Plastic Parks†where waste plastics are recycled and regenerated. Peel’s plans involve bringing together potential counterparties for waste, power and hydrogen with a nett negative CO2 contribution for each site.\n\nThe PHE DMG® technology has been evaluated by Peel over the past 30 months and Peel have now committed that the DMG® process will be the key component of each facility and a cornerstone of each Peel “Plastic Parkâ€. DMG® will be the enabling technology to ensure there is no plastic to landfill from these sites by regenerating the waste plastic into power and hydrogen.\n\nPeel will be bringing their land bank, industrial real estate and infrastructure support to the consortium. PHE has an agreement with W2T enshrined in the Collaboration Contract under which W2T will act as project developer for each project and Peel will provide support to W2T with ongoing engagement with funders, with the intention of securing funding for the pipeline of 11 projects from institutional investors. PHE will be contracted to each project under development to provide the engineering, delivery, operation and licensing of the DMG® technology.\n\nDavid Ryan, CEO of PowerHouse Energy, commented:\n\n“This contractual agreement represents a substantial commitment from Peel to the wider deployment of DMG® Energy Recovery Technology in the UK. Their commitment to commercial and funding engagement is an important step for PHE. Peel will aid the roll out of the technology and importantly they share our vision of the great potential arising from the distributed hydrogen economy\n\nWe are hugely encouraged by the fact that we have demonstrated our technology to Peel over an extens...