Powerhouse Ener Regulatory News (PHE)

POWERHOUSE ENERGY GROUP PLC - Change of Directorate

PR Newswire

London, February 1

PowerHouse Energy Group plc("PowerHouse Energy" or the "Company")

1 February 2019

 PowerHouse Energy Group CEO Resigns

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 must announce that its CEO, Keith Allaun, has resigned, effective 1 February 2019. 

In a statement to all stakeholders, Mr. Allaun states:

“It is with great regret that I announce that, due to extenuating personal circumstances, I must leave PowerHouse at this time. The increase and upgrading to our management team this past year has been of significant benefit which led to the completion of our Commercial Design, our Statement of Feasibility by DNV-GL, and the progress in finalising planning and permitting. It’s become clear more recently that we require a seasoned commercial and professional manager at the helm of the company. 

David Ryan, the current Technical Director, with over 38 years of energy industry experience, and nearly 5 years as MD of ThyssenKrupp’s UK’s Oil and Gas Operations, acting as CEO of PowerHouse, will continue to build the team, drive the commercial objectives, and will begin to implement the rigorous performance metrics necessary to allow PowerHouse to continue to contribute to enhancing our world by helping end mis-managed waste plastic, creating electricity where it’s needed, and providing a distributed system of hydrogen production for the burgeoning hydrogen economy.

We have made significant strides to successfully commercialise DMG® for world-wide roll-out. The team that PowerHouse is building is up to the task. I intend to make myself available as, or when, needed for consultation as I attend to personal matters in the United States. I have every confidence in this management team, in the Board of Directors, and our varied partners, here in the UK, and around the world to bring PowerHouse the success it deserves, and the world needs.”

Cameron Davies, Chairman of PowerHouse Energy commented:

“Keith has stewarded PowerHouse through challenging and changing times over his tenure on the board and leading the management team; he has been responsible for considerable achievements for which we are very grateful. We wish him every success in his future challenges and we respect his privacy at this time.

ENDS

For more information, contact:

PowerHouse Energy Group plc  Tel: +44 (0) 203 368 6399David Ryan, 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

Notes for editors:

About PowerHouse Energy

PowerHouse 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) process.

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