Framework Services agreement with Petrofac

RNS Number : 6321Q

Powerhouse Energy Group PLC

22 February 2023

 

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22^nd February 2023

Powerhouse Energy Group Plc

 (the "Company" or "PHE")

Framework Services agreement with Petrofac

Powerhouse Energy Group Plc (AIM: PHE), a company pioneering integrated technology that converts non-recyclable waste into low carbon energy, is pleased to announce that it has entered into a Framework Services Agreement ("Agreement") with Petrofac Facilities Management Limited, a subsidiary of Petrofac (LSE: PFC) ("Petrofac"), a leading international service provider to the energy industry. Under the agreement the Petrofac will provide engineering design and supply chain development services on PHE's pipeline of projects, including the Plastics to Hydrogen project at Protos.

Peel NRE Ltd has also confirmed Petrofac as the preferred delivery partner for the proposed construction of the facility at Plot 10b, Protos Energy Park.

Further details on future projects undertaken by PHE will be released as these develop.

Tony Gardner-Hillman, Chairman of PHE commented:

"We are delighted to announce this Agreement, in relation to which PHE will be working with Petrofac to complete the design engineering of PHE's projects. Petrofac is a renowned operator with extensive expertise in the energy space and we look forward to a long and successful relationship."

Keith Riley, Acting Chief Executive Officer of PHE, commented:

"Signing the Framework Agreement with Petrofac is a very important step for PHE in the intended rollout of its projects. The Agreement allows the two companies to work closely together and brings, to our projects, a significant depth of knowledge and breadth of skills within Petrofac as well as its extensive experience in the market, particularly with the supply chain. I think the way we have set up this Agreement brings an exceptional partner on board to take forward our projects; that PHE has not had previously."

Jon Carpenter, Vice President, New Energy Services, Petrofac, commented:

"We are thrilled to be selected as partner with PHE. We see gasification of waste as a key enabler for a net zero future. We look forward deploying our engineering, project delivery and operational experience to drive their projects to success."

For more information, contact:

Powerhouse Energy Group plc Keith Riley	[e-mail]
WH Ireland Limited (Nominated Adviser) James Joyce James Bavister Enzo Aliaj	[phone]
Turner Pope Investments (TPI) Ltd (Joint Broker) Andrew Thacker James Pope	[phone]
Tavistock (Financial PR) Simon Hudson Nick Elwes Heather Armstrong	[e-mail]

About Petrofac

Petrofac is a leading international service provider to the energy industry, with a diverse client portfolio including many of the world's leading energy companies.

Petrofac designs, builds, manages and maintains oil, gas, refining, petrochemicals and renewable energy infrastructure. Its purpose is to enable clients to meet the world's evolving energy needs. Its four values - driven, agile, respectful and open - are at the heart of everything it does.

Petrofac's core markets are in the Middle East and North Africa (MENA) region and the UK North Sea, where it has built a long and successful track record of safe, reliable and innovative execution, underpinned by a cost effective and local delivery model with a strong focus on in-country value. The Company operates in several other significant markets, including India, South East Asia and the United States, and has 8,000 employees based across 31 offices globally.

Petrofac is quoted on the London Stock Exchange (symbol: PFC). For additional information, please refer to the Petrofac website at www.petrofac.com.

About Powerhouse Energy Group plc

Powerhouse Energy has developed a process technology which can utilise waste plastic, end-of-life-tyres, and other waste streams to convert them efficiently and economically into syngas from which valuable products such as chemical precursors, hydrogen, electricity, heat and other industrial products may be derived.

Powerhouse Energy's process produces low levels of safe residues and requires a small operating footprint, making it suitable for deployment at enterprise and community level.

Powerhouse Energy 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

 

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