Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
This guy explains why Ireland has idiots for government.
https://www.youtube.com/watch?v=_FkUGIQPecA
RNS Number : 9664X
Powerhouse Energy Group PLC
02 May 2023
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.
2 May 2023
Powerhouse Energy Group Plc
(the "Company" or "PHE")
Acquisition by PHE of the entire shareholding of Protos Plastics to Hydrogen No 1 Ltd
Powerhouse Energy Group Plc (AIM: PHE), a company pioneering integrated technology that converts non-recyclable waste into low carbon energy, is pleased to announce that it has assumed full ownership and control of the Protos plastics to hydrogen project at the Protos site near Chester in the UK (the "Site").
This has been brought about by PHE completing the acquisition of the entire shareholding in Protos Plastics to Hydrogen No 1 Ltd from Peel NRE Ltd ("Peel") for a nominal payment of GBP1. Protos Plastics to Hydrogen No 1 Ltd is the Special Purpose Vehicle ("SPV") established for the development of the plastics to hydrogen project at the Site utilising PHE's technology.
The acquisition brings to an end previous discussion regarding PHE taking a 50% shareholding in the SPV.
PHE has agreed a variation of the IP Licence Agreement signed on 30 June 2021 with Peel. The variation confines the beneficiary of the licence to the SPV. The Peel option to extend its exclusivity in respect of its deployment of PHE's technology will terminate.
The Loan Facility Agreement between PHE and the SPV will be extended for one year and as a result of the acquisition will now be an intragroup arrangement.
The Option Agreement (the "Option") between Peel and the SPV enabling the SPV to lease the Site will remain in place and will be amended to limit any annual rent reviews to between 2% and 5%, such reviews in the previous version of the lease being uncapped. The Option has also been extended to 28 March 2024, with the ability to extend for a further year on payment of an extension fee of GBP150,000. A fee of GBP400,000 for provision of the gas easement and GBP532,000 for the power export facility will be payable by PHE to Peel on entering into the lease.
The Subscription and Warrant Agreement dated 9 September 2020 made between (1) Peel Holdings (IOM) Limited ("Peel") and (2) Powerhouse Energy Group Plc expired on 29 April 2023.
Up until its financial reporting year ended 31 March 2022 the SPV was dormant. Financial results for 2022/23 will be reported in due course.
Keith Riley, Acting Chief Executive Officer of PHE, commented:
"Having spent some time considering the best option for the Protos project, we have agreed with Peel that PHE will assume full control of the project and its further development. In this respect we have already started working with Petrofac and are reviewing the engineering of the project with the view to optimising costs and performance. T
Protos Energy Recovery Facility - North West
https://www.ogv.energy/news-item/update-to-shapps-sets-out-plans-to-drive-multi-billion-pound-investment-in-energy-revolution
https://passivehouseplus.ie/articles/retrofit/eamon-ryans-eco-upgrade
https://passivehouseplus.ie/articles/retrofit/eamon-ryans-eco-upgrade
He is allegedly making a programme about the melting ice caps in the Artic at the moment lol.
https://www.msn.com/en-gb/news/world/dozens-of-ships-stuck-in-arctic-as-ice-freezes-early-in-reverse-of-recent-warming-winters/ar-AAR0n3c
AGM Statement,
Myles Kitcher, Managing Director Peel NRE, part of Peel L&P and Non-executive Director of Powerhouse, said: “We are in the final stages of securing the construction contracts and expect to announce financial close very soon. We have commenced the civil engineering works with significant progress in the delivery of the new site access and in site preparation.”
I would like to thank LedZep and ITFN, for taking the time and making the effort to keep me and i'm sure the majority of right thinking ,appreciative p.i.'s here updated with the site progress. I visited the site in April and I can see from the recent videos that there has been a lot of activity since then, once the council gives the final go ahead we will see a major ramp up in activity imo.