Tuesday, 20 February 2018

UK: Hydrogen from Waste Plastic and Used Tyres for H2 Buses

Source: PowerHouse Energy Group, 20th February 2018

PowerHouse Energy Group plc
(“PowerHouse” or the “Company”)

Memorandum of Understanding

PowerHouse Energy Group plc (AIM: PHE), the UK Waste-to-Energy company seeking to develop hydrogen production from waste plastic and used tyres, is pleased to announce a partnership Memorandum of Understanding (“MOU”) with Wrightbus Ltd (“Wrightbus”), a leading bus manufacturer whose products include innovative hydrogen powered buses.

This MOU was negotiated in collaboration with Waste2tricity Ltd as part of its commercial partnership with PowerHouse as its Project Development Consultant. The MOU is non binding and although there can be no certainty a binding agreement will be entered into, the Board of PowerHouse expects this to lead to a definitive agreement under which Wrightbus will supply hydrogen fuel powered buses and PowerHouse will provide access to its Distributed Modular Gasification (“DMG®”) system for the low cost and environmentally responsible production of hydrogen.

It is expected that this first-of-its-kind turnkey solution will be marketed to local authorities and public transport providers in the UK and internationally with a particular focus on city centres, where the lack of emissions generated by hydrogen fuel cell buses bring important environmental and quality-of-life benefits. PowerHouse’s compact DMG® system, has the capacity to process 25 tonnes of plastic per day, and would have the potential to provide hydrogen to fuel buses and also provide electricity for sale to either the national grid or private clients.

The DMG® system has the potential to enable hydrogen to be produced locally from small-scale plastic processing plants and sold at a cost competitive with petrol and diesel. To date the production and distribution costs of hydrogen produced from Natural Gas has been prohibitive and produced considerable CO2 emissions. PowerHouse believes it can change the economics of that situation with carbon neutral hydrogen.

Keith Allaun, CEO of Powerhouse, commented:

“We’re delighted to announce this MOU with an alternative energy leader like Wrightbus - an innovator in clean public transport. Together, we believe we have the potential to offer a cost-effective turnkey solution in which we will produce hydrogen using our DMG® process to produce the road fuel for Wrightbus’s zero emission hydrogen buses. This is the model by which we can begin to change the environment. Together we offer a compelling proposition for transport providers such as a local authority in which they would be able to offer a zero emission bus service at the same cost as diesel transportation, with zero emissions, and converting waste into hydrogen and electricity. Given our shared corporate objectives to make a positive difference to our world profitably, PowerHouse and Wrightbus are an ideal match.”

For more information, contact:

PowerHouse Energy Group plc
Keith Allaun, Chief Executive Officer Tel: +44 (0) 203 368 6399
WH Ireland Limited (Nominated Adviser)
James Joyce / Alex Bond Tel: +44 (0) 207 220 1666
Turner Pope Investments Ltd (Broker)
Ben Turner / James Pope Tel: +44 (0) 203 621 4120
Buchanan (Media enquiries)
Mark Court / Chris Lane Tel: +44 (0) 20 7466 5000

About PowerHouse Energy

PowerHouse Energy Group plc is the developer of the G3-UHt Ultra High Temperature Gasification unit, and the creator of DMG®, the Distributed Modular Gasification System that allows the distributed eradication of waste, the generation of distributed electricity, and the production of distributed hydrogen with the world’s first hydrogen from waste (HfW) process.

The Company is focused on technologies to enable projects for energy recovery from municipal and industrial waste streams that would otherwise be directed to landfills and incinerators; or from renewable and alternative fuels such as biomass, tyres, and plastics to create synthesis gas (syngas) for power generation, or high-quality hydrogen as a fuel for transport. DMG® allows for easy, economical, deployment and scaling of an environmentally sound solution to the growing challenges of waste eradication, landfill diversion, electrical demand, and distributed hydrogen production.

PowerHouse is quoted on the London Stock Exchange's AIM Market and is incorporated in the United Kingdom.

For more information see www.powerhouseenergy.net