Powerhouse Ener Regulatory News (PHE)

POWERHOUSE ENERGY GROUP PLC - Appointment of CEO

PR Newswire

London, January 28

Powerhouse Energy Group plc

("Powerhouse" or the "Company")

31 January 2022

Appointment of Chief Executive Officer

Powerhouse Energy Group plc (AIM: PHE), the UK technology company commercialising hydrogen production from plastic, is delighted to announce that that it has appointed Paul Drennan-Durose as its Chief Executive Officer. 

Paul has many years of Board level experience in complex new technology, distribution, engineering services, and manufacturing companies. He has led businesses on an international scale and has extensive experience in a range of sectors, including cleantech energy, oil & gas, waste to energy, process manufacturing, marine, and the auto industry. Paul brings significant and diverse commercial, strategic, tactical and transformation experience to Powerhouse. 

Paul will join Powerhouse on 14 February 2022, having spent over three years as the investor appointed Chief Executive Officer of Heliex Power Limited, a private equity backed cleantech energy business. Whilst there, he led the transformation of the start-up new technology company, leading the roll-out of its technical and commercial market recovery. 

On being appointed Chief Executive Officer of Powerhouse, Paul Drennan-Durose said: “I am excited to be joining Powerhouse as we aim to become a global leader in technology solutions that will help the world transition to clean energy, as well as help to remove plastic from environments worldwide. It is set to be an exciting and busy year for Powerhouse which I look forward to leading, especially the build of the first facility at Protos.”

James Greenstreet, Chairman of Powerhouse, said: “Paul is a valuable addition to the Powerhouse Board and will bring his expertise in driving strategy, investment and delivery. Growing Powerhouse internationally with the roll-out of our clean energy technology is a key priority for Paul and will help ensure that Powerhouse will be part of the solution to tackling the world’s waste problem.”

Further regulatory disclosures:

Other than as disclosed below, there are no further disclosures to be made in accordance with AIM Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies:

Full Name: Paul Drennan-Durose

Age: 53

Paul Drennan-Durose is, or has during the last five years been, a director or partner of the following companies and partnerships:

Current Directorships:

N/A

Past Directorships:

Heliex Power Limited

Poole Process Equipment Ltd

Paul Drennan-Durose does not hold any ordinary shares in the Company.

-ENDS-

For more information, contact: 

Notes to Editors:

About Powerhouse Energy Group plc

Powerhouse 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 syngas from which valuable products such as chemical precursors, hydrogen, electricity and other industrial products may be derived. Powerhouse’s technology is one of the world's first proven, distributed, modular, hydrogen from waste (HfW) process.

The Powerhouse DMG® process can generate up to 2 tonnes of road-fuel quality hydrogen or more than 58MWh of exportable electricity per day.

Powerhouse’s process produces low levels of safe residues and requires a small operating footprint, making it suitable for deployment at enterprise and community level. As announced on 11th February 2020 under its Supplemental Agreement with Peel Environmental, Powerhouse will receive an annual license fee of £500,000 in respect of each project which is commissioned.

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.co.uk