Powerhouse Ener Regulatory News (PHE)

POWERHOUSE ENERGY GROUP PLC - Directorate Change

PR Newswire

London, October 22

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

Change of Directorate

23 October 2020

Powerhouse Energy Group plc (AIM: PHE), the UK technology company commercialising hydrogen production from waste plastic, announces that Dr Cameron Davies will retire as a director of the Company on 31 March 2021.

Tim Yeo, Chairman, said "On behalf of the whole board and all Powerhouse shareholders I express my warmest thanks to our former Chairman Cameron Davies for his leadership throughout a challenging, important and successful period of transition for our Company. His wise advice and calm judgments over the past three years have been greatly appreciated."

Dr Davies said “It has been my privilege to serve as Chairman of Powerhouse and oversee its transition into a well funded company driving forward waste plastic to hydrogen technology.”

The Company also announces its intention to appoint Mark Berry as a non-executive director, subject to receipt of the relevant AIM clearances. Mark is a partner of leading global law firm Norton Rose Fulbright which has particular expertise in the energy industry.

Tim Yeo said "I am delighted that Mark has agreed to join the Powerhouse board. His deep experience and knowledge of our industry will be of immense value and we much look forward to working closely with him."

A full announcement regarding Mark’s appointment will be made at the appropriate time.

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Notes for 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 and 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.net