Powerhouse Energy Group PLC - UK technology company commercialising hydrogen production from waste plastic - Says international gas process design and certification consultancy DNV completes stage one of validation of enhanced design to produce two tonnes per day of hydrogen.
Also notes Chief Executive David Ryan is stepping down, while Tim Yeo remains executive chair.
"The statement of feasibility follows detailed evaluation of the company's enhanced process design to deliver two tonnes per day of hydrogen including features for export of the product and was undertaken against all design enhancements enacted over a two-year period and represented in the first application at the Protos Energy Park in Elllesmere Port, Cheshire. The DNV assessment has removed previous uncertainties regarding operating parameters," company explains.
The work by DNV will be used to support project development work in Australia and Europe and help deliver contracts for Protos.
"The delivery of this validation is my last act for Powerhouse. I leave the company, confident that the technology development team led by Paul Emmitt many of whom have delivered process plant alongside me for 15 years will deliver DMG technology as the reliable, cost-effective source of hydrogen for road transport use in the community," Ryan adds.
Current stock price: 5.10 pence
Year-to-date change: down 48%
By Paul McGowan; paulmcgowan@alliancenews.com
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