Granting of non-exclusive licence to HUI
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Powerhouse Energy Group plc
("Powerhouse" or the "Company")
Granting of non-exclusive licence to Hydrogen Utopia International PLC
Powerhouse Energy Group plc (AIM: PHE), a company pioneering integrated technology that converts non-recyclable waste into low carbon energy with a revenue generating engineering consulting division ("Engsolve"), confirms that after reviewing the potential opportunities with Hydrogen Utopia International PLC ("HUI"), the Company has granted a non-exclusive licence to HUI. This licence will enable HUI to promote the Company's Distributed Modular Generation ("DMG") technology across selected European markets.
The granting of the non-exclusive licence to HUI not only allows the current exciting opportunities to be investigated, but also the development of additional opportunities in central Europe.
For clarity, this is a non-exclusive licence agreement enabling HUI to market the DMG technology across selected European markets. The operator/developer of each project utilising the DMG technology would still need to pay the additional operating licence fees.
Further announcements will be made in due course as appropriate.
Paul Emmitt, CEO of Powerhouse, Commented:
"This was an unexpected opportunity which was presented to us but given the requirement for identifying non-fossil fuel energy supplies, is excellent timing. This provides PHE, at no cost, access to a team of experienced people who are knowledgeable of our technology in central Europe at a time when the EU market is looking for ways to become self-sufficient on energy products.
We look forward to working with them to deliver on the considerable opportunities available in the region."
-ENDS-
For more information, contact:
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Powerhouse Energy Group Plc |
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Paul Emmitt, CEO |
Via Tavistock below |
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Ben Brier, CFO |
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Strand Hanson Limited (Nominated & Financial Adviser and Joint Broker) |
+44 (0) 207 409 3494 |
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Ritchie Balmer / Rob Patrick / James Harris |
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Longspur Capital Limited (Financial Adviser & Joint Broker) |
+44 (0) 203 940 6608 |
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Adam Robertson |
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Tavistock (Financial PR) |
+44 (0) 207 920 3150 |
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Simon Hudson / Nick Elwes / Saskia Sizen |
powerhouse@tavistock.co.uk |
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. PHE'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 also incorporates Engsolve Ltd, which is a revenue generating business offering Engineering Services across all sectors, with speciality services in the development of new technologies and clean energy.
For more information see www.phegroup.com
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