PowerHouse upbeat as DMG plant inches closer

(Sharecast News) - Hydrogen and clean energy company PowerHouse Energy Group announced on Thursday that its development partner Waste2Tricity (W2T) has agreed that electricity generated by it at Protos using PowerHouse's 'DMG' technology would be sold into a private grid operated by Protos.The AIM-traded firm also said W2T had agreed a supply agreement for unrecyclable plastic for the DMG plant.It described the development as a further step towards achieving financial close for the first commercial site utilising its DMG technology.A memorandum of understanding (MoU) agreement had agreed by W2T with recycler Advanced Sustainable Developments, PowerHouse added, which would see the two companies work collaboratively at the Protos site in Cheshire.The generated electricity from the DMG process would be supplied back to ASD from the Protos private grid at discount to current power market prices, which would reportedly be commercially beneficial to all parties.W2T had also agreed a supply of feedstock for processing by DMG energy recovery technology, which was intended to come from un-recyclable plastic from ASD's PET plastic recycling project at the Protos site, at a price "significantly below" current landfill prices.PowerHouse said W2T had arranged back-up supply lines for the DMG plant, in the event of delays."We are very pleased that our DMG energy recovery technology will be a key part of the solution at Protos fostered by Peel Environmental with W2T and ASD, which envisages the regeneration of plastics in a circular economy approach to waste management," said PowerHouse Energy chief executive officer David Ryan."This matches our vision for the application of the DMG technology and we believe it heralds the finalisation of a number of further DMG projects."