- Development Partner Update
Powerhouse Energy Group plc (AIM: PHE), the UK technology company seeking to commercialise hydrogen production from non-recyclable waste plastic, announces its partner, Peel NRE, part of Peel L&P, has signed a Letter of Intent to supply hydrogen from its planned roll out of plastic to hydrogen facilities to Element 2’s proposed network of hydrogen refuelling stations.
Peel NRE is Powerhouse’s exclusive development partner for the technology in the UK
Under the terms of the DMG Development UK Exclusivity Option Agreement between Peel NRE and Powerhouse (first announced on 9 March 2020), Peel NRE is proposing to develop a hydrogen refuelling station which will take hydrogen produced by Powerhouse technology, from the consented plastic to hydrogen facility at Protos, Cheshire.
There are also plans to develop a hydrogen refuelling station at Peel NRE’s planned plastic to hydrogen facility in North Clyde, near Glasgow.
Whilst the Company is very encouraged by these developments it should be noted that there is no guarantee the facilities will be completed and that the arrangements remain subject to legally binding agreements
Tim Yeo, Executive Chair, said: “We welcome Peel’s plans to supply hydrogen to Element 2 at Protos with the hydrogen being produced by Powerhouse technology. This would be a significant step in kickstarting the UK’s infrastructure for the hydrogen economy, helping accelerate the country’s clean energy transition”.
More on Powerhouse
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