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POWERHOUSE ENERGY GROUP PLC - Exclusivity agreement signed with HUI
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POWERHOUSE ENERGY GROUP PLC - Development Partner Update
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Greece
Hungary
Powerhouse Energy Group plc (AIM: PHE), the technology company commercialising hydrogen production from waste plastic, is pleased to announce that it has agreed to enter into non-binding Heads of Terms with Hydrogen Utopia International (“HUI”) with a view to granting an exclusive non-transferable licence for the application of its DMG® technology in and . Under the heads of terms HUI will pay Powerhouse €250,000, of which €25,000 is payable immediately with the balance becoming payable when the conditions of the heads of terms are satisfied. Powerhouse will continue to receive a licence fee for any DMG® plant which becomes operational in any location so the Company’s worldwide rights to the technology are not affected by these heads of terms.
Powerhouse Energy Group plc
Operational progress update
Powerhouse Energy Group plc (AIM: PHE) ( Powerhouse or the Company ), the sustainable hydrogen company pioneering hydrogen production from waste plastic, is pleased to provide an update on operational progress since the AGM held in September 2020.
We are pleased to announce that Peel L&P Environmental (“Peel”) has commenced site preparation for the first commercial DMG® plant at Protos with initial ground works. Peel has also embarked on phase 2 of infrastructure works at Protos which include the preparation of access roads and laydown areas for the works and utility service installation on Protos Plot 10b where the DMG® plant will be installed.