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Powerhouse Energy boosted as Peel L&P Environmental’s Protos project advances

"We are delighted that our DMG technology is to play such a key role in Peel L&P Environmental's Plastic Park strategy,” said chairman Tim Yeo

Powerhouse Energy Group PLC - Powerhouse Energy boosted as Peel L&P Environmental’s Protos project advances

Powerhouse Energy Group PLC (LON:PHE) has told investors it is delighted that its DMG technology will play a key role in Peel L&P Environmental's Plastic Park strategy.

The company’s comment comes as Peel L&P Environmental advances its project at the Protos site, in Cheshire, where it is developing an operation to create hydrogen from waste plastics. It is envisaged that the hydrogen fuel can then be used to fuel cars, buses and heavy goods vehicles.

The envisaged energy and resource hub is situated on a 54-hectare site.

In London, on Tuesday, Powerhouse shares gained just over 5% to change hands at 2.89p.

READ: Powerhouse anticipates more waste-to-power sites

DMG technology is set to play a significant part of the project, as it will process otherwise unrecyclable plastics.

The project is presently in development and the commercial use of DMG technology is due to begin by the end of 2021.

"We are delighted that our DMG technology is to play such a key role in Peel L&P Environmental's Plastic Park strategy,” said Tim Yeo, Powerhouse Energy chairman in a statement.

“We are particularly proud to be part of Protos as one of the key projects driving forward the net-zero economy in the North West and part of the region's plan to become the first low carbon industrial cluster by 2030.

"Being on the Plastic Park will give us easier access to materials from other businesses on-site that can then be turned into hydrogen and electricity. We can create value from what is otherwise a waste product. We're looking forward to opening the plastics to hydrogen facility next year, and welcoming neighbours that share our vision," he added.

Powerhouse and Peel are collaborating on the potential development of eleven waste plastic-to-hydrogen facilities across the UK, and, it is predicted that success with such projects will revolutionise the way that plastic waste is handled.

Quick facts: Powerhouse Energy Group PLC

Price: 3.248 GBX

LSE:PHE
Market: LSE
Market Cap: £120.67 m
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