PowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering hydrogen production from waste plastic and end-of-life tyres, notes the Marketing Initiative Press Release announced by Waste2tricity Limited yesterday concerning PowerHouse's proprietary technology, DMG® and DMG-Core, the link to the announcement is here: http://waste2tricity.com/dl/Waste2Tricity-offers-solution-to-plastic-waste.pdf
The release contains forward looking statements which, while PowerHouse believes to be materially correct and appropriately indicative, are not necessarily reflective of future market conditions, or of any contract terms that may be entered into in the future. Waste2tricity Ltd, PowerHouse's Project Development partner, is in active discussions with a number of potential partners and customers of the DMG-Core System but there are currently no agreements concluded or certainty they will be.
Highlights of the announcement include:
Waste2tricity, Ltd offers solution to plastic waste using DMG®-CORE
- Launch of the DMG®-CORE system supplied by PowerHouse Energy to address market for current waste fuel producers, plastic processors and energy-from-waste operators
- Based on the PowerHouse Energy proprietary technology
- Assisting operators unrecyclable plastics
- DMG®-CORE will be supplied with a construction completion risk-wrap and process warranty from a major EPC company
- Process will be capable of later expansion to hydrogen production
- An expectation that PowerHouse systems would likely be funded and operated under an SPV model with end users in which the Company participates and would also receive a license fee.
About PowerHouse Energy
PowerHouse Energy has developed proprietary process technology called DMG® which takes plastic and rubber waste streams and converts them into cost efficient energy in the form of electricity and ultra clean hydrogen gas fuel for use in cars and commercial vehicles (FCEV: Fuel Cell Electric Vehicles) and other industrial uses. The PowerHouse technology is the world's first proven hydrogen from waste (HfW) process.
The PowerHouse process converts 25 tonne of plastic or rubber waste into 1 tonne H2 per day and 28 MWh per day of electricity.
The PHE 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. The Company is incorporated in the United Kingdom.
For more information see www.powerhouseenergy.net