POWERHOUSE ENERGY GROUP PLC - Lease agreed for hydrogen development site
POWERHOUSE ENERGY GROUP PLC - Lease agreed for hydrogen development site
London, April 9
PowerHouse Energy Group plc
("PowerHouse Energy" or the "Company")
10 April 2019
Development Partner agrees Lease for Hydrogen Development Site
PowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering hydrogen and clean energy production from waste plastic, is pleased to announce that its development partner, Waste2Tricity Limited (“W2T”), has concluded negotiations and signed an agreement with Peel Environmental for an 124 year lease of a plot on the 54-acre Protos energy hub site, an important milestone in its plan to build a waste plastic to hydrogen and power facility.
This is expected to the be the first full scale commercial site for Powerhouse’s proprietary hydrogen from waste DMG® technology, an important step in PowerHouse Energy’s commercialisation strategy. PowerHouse Energy and W2T will now seek to conclude the arrangements for the sale and license of the DMG® technology for this site as well as W2T completing the power purchase agreement and a plastic feedstock supply necessary to finalise its funding.
The Protos site, located near Ellesmere Port in Cheshire, is being developed by Peel Environmental, part of Peel L&P and a subsidiary of the Peel Group, one of Britain’s leading infrastructure, transport and real estate companies. The £700m energy hub clusters complementary businesses, including energy intensive industries, associated supply chain and energy generation.
David Ryan, CEO of PowerHouse Energy, commented:
“This is a significant strategic development for PowerHouse Energy as our development and operational partners W2T and Peel both share the vision for hydrogen in the North West.
“We look forward to concluding our own contractual arrangements shortly which together with the plastic feed and energy use agreements currently being progressed by our partners are all stepping stones to bringing the development to financial close.
“We believe the Protos site to be an ideal location to showcase our DMG® technology in action on a fully commercial basis and demonstrate the considerable value this technology delivers, paving the way for other contracts in the pipeline to come to fruition.“
Myles Kitcher, Managing Director of Peel Environmental commented:
“We are delighted to be working in partnership with W2T and PowerHouse Energy to deliver this ‘UK first’ waste to hydrogen project. This project sums up the vision for Protos – a closed loop solution where innovative technologies are used to create value from waste and provide low carbon energy sources. Not only will this help tackle the problem of waste plastics, it will provide a local source of hydrogen which could be used as a clean and low cost fuel for buses and HGVs across the region. We see this as the first of many opportunities to roll out the technology across other Peel sites in the UK.”
John Hall, Chairman of Waste2Tricity commented:
“We are extremely pleased to be developing this site using the DMG® technology, we believe it will be the first of many in UK and elsewhere globally. The Protos site is ideally located in the North West, with discussions underway with initial suppliers of unrecyclable plastic feedstock including from other potential tenants within the park.
“We look forward to progressing to build this facility with PowerHouse Energy and Peel and the bright future ahead for responsible energy recovery.”
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 Viggor
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 Shaw Mob: +44 (0) 7979 900733
Notes for editors:
About PowerHouse Energy and DMG technology
PowerHouse Energy 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 28MW/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
Waste2Tricity is a structured solutions provider to the energy-from-waste (EfW) sector, an industry supplying increasing amounts of electricity using feedstock diverted from landfill.
Waste2Tricity works with clients and partners to develop, fund and support EfW deployment projects that use proven technology, are profitable and progressive; projects that currently use high temperature gasification and either steam cycle or internal combustion engines/gas turbines (ICEs/GTs) to efficiently convert waste to energy.
For more information see www.waste2tricity.com
About Peel Environmental and Protos
Peel Environmental, part of Peel Land and Property (Peel L&P), owns and develops waste infrastructure projects. It has achieved consent for a range of energy infrastructure schemes including a 35MW Energy from Waste plant at Protos in Cheshire, 21MW Energy from Waste plant and 250,000tpa AD and MRF in Glasgow; and a 20MW Energy Centre at Houghton Main, Barnsley. Peel works with investors, waste management companies, technology providers and contractors to secure a deliverable business model for each project.
Peel Environmental brought forward and consented the Protos development, previously known as Ince Resource Recovery Park. Protos is the destination of choice for energy, innovation and industry. Boasting unrivalled connections to some of the region’s biggest industrial forces, Protos is a strategic energy hub at the core of the Northern Powerhouse.
The 54ha (134 acres) development site has full outline planning consent and part detailed planning consent for general manufacturing and distribution uses (B1, B2 & B8), as well as a biomass facility and an Energy from Waste facility. Set on the south bank of the Manchester Ship Canal in the North West of England, the site is ideally placed to become an industrial micro-climate, with enviable transport links providing access to UK and International markets and surrounding industrial heartland.
For more information about Protos visit: www.thisisprotos.com
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