Last checked at 6 Sep 2023 07:00
6 September 2023
Powerhouse Energy Group Plc
(the "Company" or "PHE")
Change of directorate
Powerhouse Energy Group Plc (AIM: PHE), a company pioneering integrated technology that converts non-recyclable waste into low carbon energy, announces that, for personal reasons with immediate effect, Keith Riley has stepped down as Acting Chief Executive Officer and as a director of the Company.
Paul Emmitt, the Company's Chief Operating Officer, has agreed to become Acting Chief Executive Officer and it has also been agreed in principle that Mr Riley will continue his relationship with the Company as a consultant. This will enable an orderly handover of Mr Riley's responsibilities through the appointment process for Powerhouse's new CEO and will enable the Company to continue to have access to Mr Riley's knowledge of the Company's business. A further announcement will be made in due course as the process progresses.
Tony Gardner-Hillman, Non-Executive Chairman of PHE, commented:
"On behalf of the whole board I thank Keith warmly for his tireless work for Powerhouse. We respect Keith's decision, after so many years of devoting himself to business, to shift his focus. Under his full-time leadership as Acting CEO the Company has made considerable progress and the foundations of a sustainable and prosperous future have been laid. We are very pleased that Keith will remain with us as a consultant so that we retain access to his immense knowledge of the Company and its business sector."
Mr Riley will not be standing for re-election at the Company's Annual General Meeting on 7 September 2023. The resolution for his re-election will be withdrawn.
For more information, contact:
Powerhouse Energy Group plc Antony Gardner-Hillman
| +44 (0) 7733 146326
|
WH Ireland Limited (Nominated Adviser) James Joyce James Bavister
| +44 (0) 207 220 1666 |
Turner Pope Investments (TPI) Ltd (Joint Broker) Andrew Thacker James Pope
| +44 (0) 203 657 0050 |
Tavistock (Financial PR) Simon Hudson Nick Elwes Heather Armstrong | powerhouse@tavistock.co.uk
|
The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
About Powerhouse Energy Group plc
Powerhouse Energy has developed a process technology which can utilise waste plastic, end-of-life-tyres, and other waste streams to convert them efficiently and economically into syngas from which valuable products such as chemical precursors, hydrogen, electricity, heat and other industrial products may be derived.
Powerhouse Energy's process produces low levels of safe residues and requires a small operating footprint, making it suitable for deployment at enterprise and community level.
Powerhouse Energy is quoted on the London Stock Exchange's AIM Market under the ticker: PHE and is incorporated in England and Wales.
For more information see www.powerhouseenergy.co.uk
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