Powerhouse Ener Regulatory News (PHE)

POWERHOUSE ENERGY GROUP PLC - Commercial Cooperation Agreement

PR Newswire

London, May 25

PowerHouse Energy Group plc

("PowerHouse" or the "Company")

Commercial Cooperation Agreement

The Company is pleased to announce the signing of a Commercial Cooperation Agreement (“the Agreement”) with PowerHouse Energy, Americas (PHEA), a wholly independent contract development company, for the use of the PowerHouse G3-UHt systems for Waste-to-Energy (WTE) projects.. PHEA has committed to exclusively buy, and use, the G3-UHt unit, for its Waste-to-Eneregy projects, several of which are currently in development, conditional upon the satisfactory completion of the Company’s testing program currently under progress in Australia. 

The Agreement is a framework agreement that provides for PowerHouse to sell the G3-UHt reactor to PHEA on reasonable commercial terms, to be determined by the demands of each project. PHEA will provide the “balance of plant” execution with its partners and will complement the Company’s current sales and development strategy. PowerHouse has the option to sell the reactors outright, or to participate in the projects over the longer term on a royalty basis, depending on the objectives of the Company at that time. Nothing in the agreement prevents PowerHouse from developing its own projects and sales channels, both of which are currently underway.

PHEA was founded by David Moard, a previous executive, and an original founder of PowerHouse Energy Group, plc. PHEA is focussing on developing WTE projects globally.

“Signing this agreement is a significant step forward for the Company,” said Keith Allaun, Executive Chairman of PowerHouse. “We’ve been working with David in the background since the inception of the Company. His knowledge of the industry, and his insight into the Hydrogen Economy, are of great value to us. PHEA has a strong team of engineers, a well-defined sales process, and an increasing sales pipeline, to which we are now fully exposed. We believe our G3-UHt technology when fully developed will be the lynchpin in the potential success of PHEA projects.”

“I’m excited for the opportunity to be working in cooperation with PowerHouse again,” stated David Moard, CEO of PHEA. “The G3-UHt technology once fully developed has the potential to become an industry changer in ultra high temperature gasification. With the improvements made on previous generations of gasification technology, the G3 is perfectly suited to the diverse projects we currently have on the books. 

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