Plans for Global Technology and Innovation Centre
RNS Reach - non-regulatory release
Powerhouse Energy Group plc
("Powerhouse" or the "Company")
24th May 2022
POWERHOUSE UNVEILS LAUNCH PLAN FOR GLOBAL
TECHNOLOGY AND INNOVATION CENTRE
Centre to accelerate and support the technology readiness
Powerhouse Energy Group PLC (PHE), who are commercialising syngas and hydrogen production from non-recyclable waste plastic, has today unveiled its plan to create a UK based, Global Technology and Innovation Centre (GTIC), which it aims to open in early 2023.
The GTIC is designed to add strength to building the technology readiness level (TRL) of technologies and systems PHE has within its offering, so reinforcing the company's growth strategy.
TRL rankings are an essential step in the commercialisation of new technologies. It is a method for understanding and assessing the maturity of a technology during its development phase, and PHE looks forward to bolstering this at their Global Technology and Innovation Centre.
Powerhouse will build the GTIC in the UK after recently signing agreements with suppliers to provide a turnkey solution for the centre.
A specific site search for the GTIC is in motion, and the objective is to situate it close to manufacturing, technology, and research networks, and at the same time make it accessible to customers. This will aid the continuous development of the technology for commercial use.
Paul Emmitt, Powerhouse's Chief Technology Officer said "As well as generating even more credibility on the process capability of our commercial scale offering, the plant and equipment at GTIC is more representative of the commercial design. It will be capable of handling more volume than the equipment the company has used to-date for validation. Additionally, the GTIC will support evaluations of customers' own feed stock blends - validating, demonstrating, and testing in real-world conditions, and providing market replication. This will enable deep and thorough assessment in the pre-evaluation phase of onboarding projects, supporting business growth".
Chief Executive Officer of Powerhouse, Paul Drennan-Durose, said: "We are delighted to make this announcement. The new centre will open doors to new areas of research, innovation, and technology development. It will play a key role in underpinning the established progress, and in increasing market readiness. Crucially, it will play a role in intensifying sales pipeline generation, and in showcasing how Powerhouse can be part of the solution to the world's waste problems, and the energy transition".
-ENDS-
For more information, contact:
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Powerhouse Energy Group plc |
Tel: +44 (0) 203 368 6399 |
Paul Drennan-Durose |
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WH Ireland Limited (Nominated Adviser) |
Tel: +44 (0) 207 220 1666 |
James Joyce / Megan Liddell |
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Turner Pope Investments (TPI) Ltd (Joint Broker) |
Tel: +44 (0) 203 657 0050 |
Andrew Thacker / James Pope |
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SisterSmith PR (media enquiries)
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Mob: + 44 (0) 7766522305
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Becca Smith |
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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 convert them efficiently and economically into syngas from which valuable products such as chemical precursors, hydrogen, electricity, and other industrial products may be derived.
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.
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
Follow developments @PowerHouseEG .
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