The DNV GL Statement of Feasibility is issued by DNV GL when their Technology Assessment finds no prohibitive obstacles under the DNV GL Technology Qualification process RP-A203.
The programme involved a robust and rigorous review of the engineering design, test data, process modelling and the equipment engineering design required for the commercial application of the DMG® technology. This Phase one of the Technology Qualification process, was built into PowerHouse Energy’s extensive engineering, safety and risk management programme which has taken several months to complete. This independent review of PowerHouse Energy’s technology was undertaken by DNV GL, a global leader in technical assurance certification. PowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering hydrogen production from waste plastic and used tyres is pleased to announce it has received an independent “Statement of Feasibility” for its proprietary full-scale commercial engineering design for the waste to power and waste to hydrogen technology processes known as DMG®. PowerHouse is quoted on the London Stock Exchange’s AIM Market under the ticker: PHE, and is incorporated in the United Kingdom. The PowerHouse process produces low levels of safe residues and requires a small operating footprint, making it suitable for deployment at enterprise and community level. The PowerHouse DMG® process can generate in excess of 1 tonne of road-fuel quality H2, and more than 28MW/h of exportable electricity per day. The PowerHouse technology is one of the world’s first proven, modular, hydrogen from waste (HfW) processes. PowerHouse Energy has developed a proprietary process technology – DMG® – which can utilise waste plastic, end-of-life-tyres, and other waste streams to efficiently and economically convert them into EcoSynthesis gas from which valuable products such as chemical precursors, hydrogen, electricity and other industrial products may be derived. Turner Pope Investments Ltd (Joint Broker) Tel: +44 (0) 2 WH Ireland Limited (Nominated Adviser) Tel: +44 (0) 2 PowerHouse Energy Group plc Tel: +44 (0) 2
PowerHouse has no shares in Treasury, therefore this figure may be used by Shareholders, from Admission, as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules.
Subsequent to the issue of Option Shares, the Company will have 1,716,431,621 Ordinary Shares in issue. Allaun has made a written commitment to hold the newly issued shares for a minimum of 18 months. These shares will rank pari passu in all respects with the Company’s existing issued Ordinary Shares.įollowing the acquisition of the Option Shares, Keith Allaun will hold 18,666,667 Ordinary Shares in the Company, which represents 1.09% of the Company’s enlarged issued ordinary share capital and voting rights.
PowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering hydrogen production from waste plastic and used tyres, announces that Keith Allaun, CEO of the Company, has exercised 16,666,667 Share Options at an exercise price of 0.6p, for a cash consideration of £100,000.00 (“Option Shares”).Īpplication will be made for the admission of 16,666,667 Shares to trading on AIM and it is expected that this will occur on or around 26 October 2018.
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