Powerhouse Enrgy Grp MOU with Peel Environmental
February 06 2017 - 2:00AM
UK Regulatory
TIDMPHE
PowerHouse Energy Group plc
("PowerHouse", or the "Company")
MOU with Peel Environmental
PowerHouse is pleased to announce that it has signed a Memorandum of
Understanding ("MOU") with Peel Environmental Ltd ("Peel Environmental") and
its subsidiary This is Protos LLP ('Protos') to work together to pursue the
development, construction and operation of an energy from waste plant at Peel
Environmental's Protos facility near Chester, UK. This MOU was brokered by
Waste2Tricity Ltd ("Waste2Tricity") in conjunction with the joint development
agreement between PowerHouse and Waste2Tricity announced on 18 January 2017.
The MOU, covering a collaboration period until 1 May 2018, sets out the basis
on which PowerHouse and Peel Environmental will work together. The joint
project envisages the construction of PowerHouse's first commercial enterprise,
utilising the Company's G3-UHt system, at the Protos site together with a
proposed plan for the delivery of five energy from waste plants. There is no
certainty that the MOU will proceed to definitive agreements between the
parties.
Commenting Keith Allaun, Executive Chairman of PowerHouse, said: "Peel
Environmental is a national leader in helping create solutions to the UK's
waste challenges. With multiple waste management sites located across the UK,
Peel has the experience to see projects from green-field through to
completion. Their vision for Protos; creating a robust energy-from-waste and
alternative energy ecosystem in a single, large, and fully integrated facility
makes them an ideal partner for a company like ours.
Commenting Myles Kitcher, Managing Director of Peel Environmental, said: "Peel
Environmental is extremely enthusiastic about supporting PowerHouse and adding
it to the growing energy park at our Protos facility.
For more information, contact:
PowerHouse Energy Group plc Tel: +44 (0) 203 368
Keith Allaun, Executive Chairman 6399
WH Ireland Limited (Nominated Adviser) Tel: +44 (0) 207 220
James Joyce / James Bavister 1666
Vicarage Capital Limited (Broker) Tel: +44 (0) 203 651
Jeremy Woodgate 2910
IFC Advisory (Financial PR & IR) Tel: +44 (0) 203 053
Tim Metcalfe / Graham Herring / Heather Armstrong / 8671
Miles Nolan
Notes to Editors
About PowerHouse
PowerHouse is the holding company of the G3-UHt System Ultra High Temperature
Gasification waste to energy systems.
The Company is focussed on technologies to enable energy recovery from
municipal waste streams that would otherwise be directed to landfills and
incinerators; or from renewable and alternative fuels such as biomass, tyres,
and plastics to create syngas for power generation, high-quality hydrogen, or
potentially reformed into liquid fuels for transportation. These waste to
energy systems aim to provide the "best solution" to the on-site energy market.
PowerHouse is quoted on the London Stock Exchange's AIM Market. The Company is
incorporated in the United Kingdom.
About Protos
Protos is being developed by Peel Environmental, a subsidiary of the Peel
Group, one of Britain's leading infrastructure, transport and real estate
companies.
At the core of Protos is the 51ha (126 acre) development site, which has
outline and detailed planning consent for industrial uses including an Energy
from Waste facility, a biomass facility and environmental technologies
including resource recovery. This also encompasses B1, B2 and B8 uses.
Creating a cluster of complementary businesses at Protos can provide increased
access to energy; skills; support and resources; and a co-located supply chain.
Peel see Protos being transformational for the region's employment market, with
the ability to create some 3,000 jobs. They are bringing forward Protos in
collaboration with the University of Chester, who's neighbouring Thornton
Science Park offers direct access to a highly-skilled and futureproof
workforce, as well as state-of-the-art facilities.
END
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