HYDROGEN UTOPIA & POWERHOUSE ENERGY GROUP IN BINDING EXCLUSIVE AGREEMENT TO DEPLOY THE DMG® SYSTEM IN CONTINENTAL EUROPE
Hydrogen Utopia International PLC (“Hydrogen Utopia” or “HUI” is proud to announce that it has entered into a binding exclusive agreement (the “exclusivity agreement”) with Powerhouse Energy Group (AIM: PHE) to deploy the revolutionary DMG® system in Poland, Hungary and Greece.
The exclusivity agreement is the result of a successful, symbiotic relationship between Powerhouse and Hydrogen Utopia. The mutual ambition of the two companies is to roll out as many DMG® systems as possible to help Europe achieve its carbon net-zero objectives.
As part of the DMG® licensing arrangements with Powerhouse, each DMG® system will generate a royalty of EUR 500,000 per year for Powerhouse Energy. Consequently, upon completion, every 10 DMG® systems installed will therefore generate for Powerhouse EUR 5 million per annum for the anticipated minimum 20 years’ system life.
HUI has already paid Powerhouse deposits totalling €125,000 in anticipation of finalising the arrangements for Poland, Hungary and Greece. Under the exclusivity agreement,, HUI will pay Powerhouse a further EUR 325 000 by the end of 2021 and EUR 300 000 within the following 12 months.
To support the rollout, HUI intends to seek EU funding as well as local and national grants and private sector funding where available in targeted regions. The most important and likely source of funding initially is the European Just Transition Fund (“JTF”). The JTF is one of the three pillars of the EUR 100 billion Just Transition Mechanism (“JTM”), part of the European Green Deal to create a climate-neutral economy in Europe by 2050. The aim of this mechanism is to support workers and citizens of the regions most impacted by the transition over the period 2021-2027.
The City of Konin, Poland
The most important current project being undertaken jointly between Powerhouse and HUI is the deployment of the first DMG® plant in Konin, Central Poland. The first installation will convert 40 tonnes per day of plastic waste into 58 MWh of renewable electricity and 2-3 tonnes per day of clean hydrogen. Hydrogen will be used locally as a fuel for city buses and other heavy-duty vehicles, as well as for passenger cars. The DMG® system will also be used to provide heat to the citizens of Konin via a Central Heating System.
On completion the project will create 200 - 300 jobs, which will assist the City of Konin in rebuilding itself to its former historic grandeur. HUI through the Plastic-to-Hydrogen technology will create jobs at all levels, including those for highly skilled engineers.
It is believed that this project will be the blueprint for other European countries in terms of how to tackle their environmental and economic issues. The Magistrate of the Konin City Hall believes that the project is vital to the city and has been pivotal in accelerating the process of DMG® deployment.
For the first site, Hydrogen Utopia has received legal sanction to commence planning applications, necessary permits and EIA and HUI has engaged SWECO to commence the planning [and construction] process.
At full scale, the Konin project will contain 10 units. The units will be placed together in one location, therefore HUI is looking at opportunities to purchase more land to the south of the site of the first DMG® system.
Hydrogen Utopia, through its wholly owned Polish subsidiary Hydropolis United, is now in the final process of agreeing a lease for the site with the city of Konin. The land will be leased for three years, but with the intention of ultimately purchasing it outright. The City has offered a very attractive lease agreement of 250 EUR/ month before the plant starts to operate, which will increase to 2000 EUR/ month once the plant is operational.
DMG® Plant Site Layout
Greece and Hungary
The Greek Subsidiary of Hydrogen Utopia, “Plastic Gold”, has signed an LOI with the Mayor of Florina, Vasileios Giannakis, a city in West Macedonia to deploy a DMG® system initially designed to generate electricity [alone}. The intention is to build two electricity generating DMG® plants in the City of Florina. HUI is actively searching for opportunities in the Greek islands, where the supply of electricity is a constant issue and there is substantial interest in the DMG technology.
Thanks to our powerful partners in Hungary, we are at the early stages of discussions with [the] Hungarian University to deploy a full scale DMG® R&D project.
DMG®
DMG® is a revolutionary new UK developed type of Chemical Recycling that converts waste plastic and other high calorific value waste, such as used tyres into clean energy, recovering the maximum amount of energy without creating harmful by-products through an innovative approach to waste management. The process involves the waste materials being broken up and shredded into similar size pieces to allow feeding into the DMG® Thermal Conversion Chamber, where the waste is converted into clean energy.
The end product is a clean syngas which is similar in calorific value to the Natural Gas currently used for cooking and heating homes. The whole process leaves behind a few inert harmless residues which are typically less than 5% of the starting volume of waste material. The energy rich syngas is then further processed to generate electricity and hydrogen which is 99.999% pure and which can be used for a variety of purposes, including use in Hydrogen Fuel Cell Electric Vehicles, which do not have the recharging time restrictions of conventional electric vehicles.
For more information please contact us, or
Aleksandra Binkowska - Founder
Tel: +48 602 527 711 | Email: aleksandra.binkowska@hydrogenutopia.eu
Notes to editors
ABOUT HYDROGEN UTOPIA
Hydrogen Utopia International (HUI) was founded in 2020 by Aleksandra Binkowska with the aim to turn Poland and the EU to net positive through using unrecyclable plastic and transforming it into low cost hydrogen and electricity. The UK based technology company is actively working with the EU to gain funding and subsidies for the first waste to energy DMG plant in Konin, Poland. https://www.hydrogenutopia.eu
ABOUT POWERHOUSE ENERGY GROUP
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-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 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 www.powerhouseenergy.co.uk
Follow developments @PowerHouseEG.