Powerhouse Energy Group PLC (AIM:PHE) said it signed a deal with a subsidiary of Hydrogen Utopia International (HUI) to market its waste plastics-to-hydrogen (DMG) technology outside the UK.
The deal covers Poland, Greece and Hungary (where HUI has been granted exclusivity) and other territories outside the UK on a non-exclusive basis, a statement said.
“Powerhouse is pleased to sign this collaboration agreement with HUI which is championing our technology across Europe and potentially the rest of the world,” said chairman, James Greenstreet.
“This agreement provides a framework for us to move forward with projects with Hydrogen Utopia and will help to deliver our long-term vision for DMG technology to be deployed internationally, helping the world transition to clean energy whilst providing a solution to end-of-life plastic.”
Powerhouse 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.