Powerhouse Energy Group PLC (AIM:PHE, FRA:BT81) said its partner has raised £2.2mln to build a plastic recycling plant in Poland based on the company’s DMG technology.
Subject to the planning permissions, Hydrogen Utopia International (HUI), which has exclusive rights over the DMG system for Poland, Greece and Hungary, will site the new operation in the city of Konin.
Powerhouse chairman James Greenstreet said: “We congratulate HUI for their successful fundraise and progress in moving forward the commercialisation of DMG in Europe. We look forward to our technology accelerating Poland’s clean energy transition.”
DMG is a form of advanced thermal conversion technology that takes unrecyclable plastics and recovers syngas that can be used in a similar way to natural gas.