Greece and Hungary - Powerhouse Energy Group PLC (LSE: PHE) & Hydrogen Utopia’s alliance on DMG® technology DEPLOYMENT
Hydrogen Utopia International (“HUI”) is pleased to announce that it has acquired rights to Greece and Hungary from Powerhouse Energy Group plc (“PHE”) for its DMG® technology deployment.
HUI and PHE’s cooperation started with acquiring rights for Poland in November 2020. Since then, HUI has initiated its rollout of the DMG® system in Konin, creating the Center of Polish Hydrogen.
HUI has engaged with partners to commence the rollout and the process is gaining momentum. While Poland is still the primary focus HUI is not limited to one country. The primary goal is to provide Powerhouse Energy Group with a substantial project pipeline for its DMG® technology which will ensure a significant rollout of systems within the next 2 years in as many locations as possible. Under the licensing agreement each kiln will generate a royalty of EUR 500 k per year for Powerhouse Energy Group PLC. HUI remains focused on the regions which are under the EU Just Transition Fund umbrella.
The European Union created the Fund to ensure that most impoverished areas will be able to rebuild their economy thanks to future 4.0. technologies like the DMG® system. The EU Fund will be allocated exclusively to projects which will create jobs and help reach the EU 2035 net-zero guidelines. The PHE DMG® system is one of the key solutions in terms of meeting these objectives.
The Just Transition Fund gives power to the Local Municipalities to decide which projects are going to be chosen. It is therefore essential for HUI to maintain close relationships with the Mayors of regions within the scope of the JUST Transition fund as they ultimately decide where the funding is allocated. This is substantially different from the standard EU grant process.
HUI is delighted with the response from the eligible City Halls in the Just Transition areas designated by the EU upon appreciating that the Powerhouse Energy DMG® technology not only produces a zero carbon hydrogen by-product but it also creates a significant number of jobs for each system that is end - of - life for 14,0000 tons of mixed waste plastic with 5 revenue opportunities; gate fee, sale of syngas, hydrogen, electricity and heat the DMG® system provides when in operation. Every country has its own specific issues regarding environmental decisions, planning permissions and political circumstances. HUI wishes to make sure that nothing will slow the DMG® deployment process down. Having made important contacts in Greece and Hungary, the company is confident it will have the DMG® project running soon. In Greece HUI has identified regions located in West Macedonia, especially the city of Florina as a starting point. Greece is an interesting market due to its geographical nature in terms of the multitude of islands.
HUI will be aiming to roll out the DMG® systems both on the Greek mainland as well as on the islands. We believe that the Greek rollout will be able to demonstrate to other island countries (e.g.Indonesia) how to tackle their plastic problems and supply electricity using the DMG® system. In Hungary the locations HUI is looking at include Baranya and Heves. Baranya is particularly intriguing since one of the most important Hungarian Universities is located in its capital- Pecs.HUI has made contacts there which will come to fruition with the help of local prominent persons, who believe that the DMG® system will be environmentally significant.
The waste plastic to hydrogen technology exclusively licensed to HUI in Poland, Greece and Hungary is a unique system that uses mixed waste, un-recyclable plastic from any source including that extracted from municipal waste and converts it into a valuable intermediate product, a synthetic gas, that can be used for either power generation or also as source of high-quality hydrogen for fuel cell vehicles. Each system is small scale and can produce 2 tons of hydrogen a day plus 58 MwH of exported electricity or just 85 MwH of electricity from 40 tons of unsorted mixed plastic. It provides an end of life solution for all waste plastic.
“HUI believes that under the joint forces of PHE and HUI it will manage to satisfy market needs in the renewable and waste to energy space. As of 1st of January EU countries are not allowed to export their waste to Third World Countries where they will be landfilled or thrown straight into the ocean. Un-recyclable plastic is an international threat to all of us and we believe that DMG® is the only answer to create a better planet for all of us” - Aleksandra Binkowska.
Commenting on the news, PHE’s Executive Chairman, Tim Yeo said “We are pleased to extend the countries in which HUI will help deploy our DMG® technology to include Greece and Hungary. This is part of our long-term vision for rolling out sustainable hydrogen technology internationally. We believe this will accelerate the clean energy transition in Hungary and Greece and provide both countries with a solution to end-of-life plastic”.
NOTES TO EDITORS:
ABOUT POWERHOUSE ENERGY
For more information please contact:
Becca Smith / 0044 7766 522305 / becca@sistersmithpr.com
Suzi Smith / 0044 7766 522306 / suzi@sistersmithpr.com
PowerHouse Energy, the sustainable hydrogen company, has developed a technology that provides a solution to non-recyclable plastic and produces a clean energy that can help improve air quality by replacing diesel with hydrogen as a transport fuel. PowerHouse technology aims to be used at a local level providing a closed loop solution within the community for non-recyclable plastic waste, cleaning up our oceans and helping to accelerate the clean energy transition to reach the target of net zero emissions by 2030.
The Distributed Modular Generation (DMG®) technology can utilise non-recyclable plastic, end-of-lifetyres, 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. Announced on 11th February 2020 under its Supplemental Agreement with Peel Environmental, Powerhouse will receive an annual license fee of GBP500,000 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
https://www.powerhouseenergy.co.uk/
Follow developments @PowerHouseEG