Response to speculation

Powerhouse Energy Group plc

("Powerhouse" or the "Company")

11 May 2022

Response to speculation

Powerhouse Energy Group plc (AIM: PHE), the UK technology company commercialising hydrogen production from plastic, is aware of speculation on an investor forum website that it may enter a Joint Venture with Hydrogen Utopia International plc (“HUI”) in a proposed waste to hydrogen facility in Ireland.

Whilst the Company has had dicussions with HUI on a project opportunity in Ireland, the board is considering the proposal and how it may become involved in the potential project which is at a very eary stage. However the Company cautions that there is no agreement in place and that there is no certainty it will decide to pursue any such opportunity.

-ENDS-

For more information, contact: 

Powerhouse Energy Group plc	Tel: [phone]
Paul Drennan-Durose
WH Ireland Limited (Nominated Adviser)	Tel: [phone]
James Joyce / Megan Liddell
Turner Pope Investments (TPI) Ltd (Joint Broker)	Tel: [phone]
Andrew Thacker / James Pope
SisterSmith PR (media enquiries) Becca Smith	Mob: [phone]

Notes to Editors:

About Powerhouse Energy Group plc

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. Powerhouse’s technology is one of the world's first proven, distributed, modular, hydrogen from waste (HfW) process.

The Powerhouse DMG® process can generate up to 2 tonnes of road-fuel quality hydrogen or more than 58MWh of exportable electricity per day.

Powerhouse’s process produces low levels of safe residues and requires a small operating footprint, making it suitable for deployment at enterprise and community level. As announced on 11th February 2020 under its Supplemental Agreement with Peel Environmental, Powerhouse will receive an annual license fee of £500,000 in respect of each project which is commissioned.

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.co.uk