Powerhouse Ener Share News (PHE)

(Sharecast News) - Waste-to-hydrogen company Powerhouse Energy Group announced on Tuesday that Peel NRE, part of Peel L&P, is planning to develop its second waste plastic-to-hydrogen facility using Powerhouse technology, at the Rothesay Dock on the north bank of the River Clyde, West Dunbartonshire.
The AIM-traded firm said the 13,500 tonne facility would be the second in the UK to use its 'DMG' technology.

It said the first project saw plans for a similar facility at Peel NRE's Protos site in Cheshire approved in 2019.

"We are delighted Powerhouse technology is to be deployed in Scotland, helping the region improve air quality and provide a solution to end-of-life plastic," said executive chairman Tim Yeo.

"This new facility will play an important role in supporting the objective of both Holyrood and Westminster to make hydrogen a key element of Scotland's decarbonisation strategy."

Yeo said the company "welcomed" plans to co-locate a re-fuelling station at the site, which he said would help increase uptake of hydrogen fuel in the region and add to Scotland's growing hydrogen economy.

"All eyes are on Scotland ahead of the important COP26 meeting in Glasgow later this year, so we are delighted our pioneering, clean energy technology will help put Scotland on the path to net zero."

At 1318 BST, shares in Powerhouse Energy Group were up 5.93% at 6.25p.