POWERHOUSE ENERGY GROUP PLC - DNV Validation of Enhanced DMG Designs

Following this validation, the DNV assessment team will continue with extensive verification of the designs including failure mode and criticality assessments which lead to complete technology qualification in accordance with DNVGL-SE-0160. DNV and the Company recognise that new sources of uncertainty may be discovered as qualification progresses. However, the Company is confident that its Technology Development Programme has identified a work programme to remove many unknowns through the execution of the Protos development and that the likelihood of new sources of risk arising are low. A Certificate of Endorsement should be expected in due course later in the year.

The DNV Statement and report will be used by Peel, their consultants and contractors to support finalisation of contracts for the Protos execution.  The material will also support project development work in Australia and Europe. 

David Ryan, Chief Executive of Powerhouse, said “I thank DNV for their speedy work in presenting their report and the operations team led by Dr Physick in presenting the operational material necessary to complete this review. 

The delivery of this validation is my last act for Powerhouse. I leave the Company, confident that the technology development team led by Paul Emmitt many of whom have delivered process plant alongside me for 15 years will deliver DMG technology as the reliable cost effective source of hydrogen for road transport use in the community.”

Tim Yeo, Executive Chair, said “I welcome this latest DNV validation and thank David Ryan warmly for his work in the last four years during which our Company has made great progress. David is now going to have a well-earned break but I am pleased to say that his advice will be available to us in future as a consultant to help ensure the timely completion of our first commercial scale plant.”

-ENDS-

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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 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 and 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