Last checked at 31 Dec 2018 11:37
The following amendment has been made to the 'Waste2Tricity Report in The Sunday Examiner' announcement released on 31/12/2018 at 07:38.
The name Sunday Examiner has been amended to Sunday Express throughout.
All other details remain unchanged.
The full amended text is shown below.
London, 31 December 2018
PowerHouse Energy Group plc
("PowerHouse, "PHE," or the "Company")
Waste2Tricity Report in The Sunday Express
PowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering hydrogen production from waste plastic and used tyres and developer of the DMG® System would like to clarify the reporting regarding ownership of intellectual property relating to Thermal Conversion Technologies by Waste2Tricity, Ltd by the Sunday Express on 30 December 2018.
While not mentioning PowerHouse specifically, the Sunday Express inadvertently reported that Waste2Tricity, Ltd, the UK Project Development Partner for PowerHouse for a number of distributed electricity and distributed hydrogen projects within the UK and elsewhere "has patented a method of heating plastic until it 'gasifies' into hydrogen…."
The actual patents related to the thermal conversion of waste plastic to hydrogen and electricity have been developed, and are in the process of being filed, by PowerHouse Energy Group, plc and all proprietary IP related to the DMG® Thermal Conversion Process is owned by PowerHouse and will be licensed to Waste2Tricity.
This inadvertent error in reporting has resulted in a number of inquiries regarding the IP position of PowerHouse as it relates to its DMG® System technology. To clarify, Waste2Tricity is a licensee of PowerHouse Technology and IP and will pay to leverage that IP to develop projects in a number of geographies including the UK and Japan. The Sunday Express article further states that Waste2Tricity has "teamed up with Toyota to open new recycling and refueling stations…." However, to date, no agreements regarding the deployment of the DMG® Technology for new recycling and refueling stations have been finalised between the parties.
As announced on 26 November 2018 Waste2Tricity has been leading discussions with Toyota Tsusho (Toyota) for a number of months. An extensive review of the DMG® technology by Toyota Tsusho's Chemical Business Development Division is under way subsequent to PHE having achieved its recent "Statement of Feasibility" by DNV-GL, a leading provider of technical assurance world-wide.
Toyota Tsusho is one of the 17 members of the Toyota Group. On its website, Toyota Tsusho is described, "As the Toyota Group's sole general trading company, we gather information and promote the development of new business from a global perspective. As automotive professionals with unique capabilities and know-how, we strive to lead the Toyota Group in the challenge to develop the evolution of next-generation mobility to contribute to the development of both society and the Toyota Group."
For more information, contact:
PowerHouse Energy Group plc Tel: +44 (0) 203 368 6399Keith Allaun, Chief Executive Officer
WH Ireland Limited (Nominated Adviser) Tel: +44 (0) 207 220 1666James Joyce / Chris Viggor
Turner Pope Investments Ltd (Joint Broker) Tel: +44 (0) 203 621 4120Ben Turner / James Pope
Ikon Associates(Media enquiries) Tel: +44 (0) 1483 271291Adrian Shaw Mob: +44 (0) 7979 900733
About PowerHouse EnergyPowerHouse 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. The PowerHouse technology is one of the world's first proven, modular, hydrogen from waste (HfW) processes.
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 process produces low levels of safe residues and requires a small operating footprint, making it suitable for deployment at enterprise and community level.
PowerHouse is quoted on the London Stock Exchange's AIM Market under the ticker: PHE, and is incorporated in the United Kingdom.
For more information see www.powerhouseenergy.net
About Waste2tricity Ltd
Established in 2008, Waste2Tricity is a structured solutions provider to the energy-from-waste (EfW) sector, an industry supplying increasing amounts of electricity using feedstock diverted from landfill. Waste2Tricity works with clients and partners to develop, fund and support EfW deployment projects that use proven technology, are profitable and progressive. In the case of PHE these projects will use high temperature gasification and internal combustion engines to efficiently convert waste plastic to energy and in the future can produce hydrogen to support the growth of the hydrogen economy.