Powerhouse Ener Regulatory News (PHE)

30 December 2022

PowerHouse Energy Group plc

("PowerHouse" or the "Company")

Directorate Changes and Operational Update

Powerhouse Energy Group plc (AIM: PHE), the UK technology company commercialising hydrogen production from plastic, is pleased to announce that that it has appointed Antony Royston Gardner-Hillman as Non-Executive Chairman in addition to Anthony Clive Gale and David John Hitchcock, as Non-Executive Directors of the Company with effect from 1 January 2023.

In 2020 Mr Gardner-Hillman co-founded, and subsequently became Chairman of, Rocquaine Management Limited, which provides ownership-structuring and tax consulting services to ultra-high net worth clients in connection with their business interests and assets. Mr Gardner-Hillman is a solicitor qualified in England and Wales. He was a Co-Founder of JTC Group in 1987 and became its first Chairman, remaining as a Director and Chairman until selling his shareholding and resigning from the board in 2008.

Mr Gale is currently Founder and Managing Director of Tony Gale Cleantech Consultants Ltd and has over 30 years' experience in the industrial and manufacturing sectors, both with global corporations and SMEs.

Mr Hitchcock is currently a Chairman and Co-Founder of States Bridge Capital, a firm which lists fast growing private companies both in the UK and internationally, via IPOs to the UK Public Stock Market including the Standard List and AIM. It also acts as Financial Advisor to UK Public Companies. Mr Hitchcock has historically worked with a number of early stage, or distressed businesses.

Operational Update

Further to the announcements dated 5 September and 15 August 2022, the Company can confirm that work has continued towards finalisation of the agreements regarding the joint venture with Peel NRE Ltd ("Peel") to form a special purpose vehicle ("SPV"), Protos Plastics-to Hydrogen No 1 Ltd. A further announcement will be made when appropriate.

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: Antony Royston Gardner-Hillman (known as "Tony")

Mr Gardner-Hillman, aged 66, is, or has during the last five years been, a director of the following companies:

Current Directorships

Past Directorships (held within the last five years)

On 17 August 2001, Mr Gardner-Hillman was appointed as a Director of Brian Hill Haulage & Plant Hire Limited. He resigned that position on 3 March 2007. The company went into administration on 12 October 2007 and moved into creditors voluntary winding up on 1 October 2008, with an estimated £920,000 of outstanding creditors according to the administrator's progress report dated 3 October 2008. The company was dissolved on 20 March 2012.

On 19 February 2004, Mr Gardner-Hillman was appointed as a Director of Blue Swan Insurance (Jersey) Limited. Blue Swan went into liquidation at the instigation of its directors on 28 April 2006. Mr Gardner-Hillman has confirmed that there has not been a liquidator's report filed to date and is thus unaware of the total amount outstanding to creditors. The company was dissolved on 11 January 2010.

On 26 November, 2010, Mr Gardner-Hillman was appointed as a Director of Evreux Holdings Limited, the parent company, and of its subsidiaries J.C.N. Investments (Jersey) Limited and Anthony Investments (Esplanade) Limited, a group of privately owned property investment companies. The companies went into liquidation at the instigation of their directors on 16 April, 2019. Mr Gardner-Hillman was informed by the liquidator that in 2016 the creditors of Anthony Investments (Esplanade) Limited and of J.C.N. Investments (Jersey) Limited had been paid in full. Anthony Investments (Esplanade) Limited was dissolved on 14 October, 2022. The creditors of the parent company, Evreux Holdings Limited, received 45 pence in the pound by way of interim distributions, although the total amount outstanding to creditors is unknown to Mr Gardner-Hillman. Mr Gardner-Hillman has received no further information from the liquidator, and is not aware of any further statement of affairs having been published in respect of Evreux Holdings Limited or of J.C.N. Investments (Jersey) Limited, or of the amount remaining outstanding to their respective creditors.

On 13 November 2009, Mr Gardner-Hillman was appointed as a Director of Bellzone Mining PLC (company registered in Jersey). The company went into liquidation at the instigation of its directors on 13 December, 2018. The company remains in liquidation and Mr Gardner-Hillman has received no information from the liquidator, and is not aware of a statement of affairs having been published, or of the amount remaining outstanding to creditors.

Full Name: Anthony Clive Gale (known as "Tony")

Mr Gale, aged 65, is, or has during the last five years been, a director or partner of the following companies and partnerships:

Current Directorships

Past Directorships

Mr Gale was formerly a Director of Phytoponics Limited, which went into creditors voluntary liquidation on 19 October 2021. Mr Gale resigned from the company on 23 June 2021. The liquidation process is still on going, with a deficiency to creditors of approximately £228,812 including Mr Gale.

Full Name: David John Hitchcock (known as "Dewi")

Mr Hitchcock, aged 59, is, or has during the last five years been, a director or partner of the following companies and partnerships:

Current Directorships

Past Directorships

Mr Hitchcock was formerly a Director of CESB Realisations Limited, having been appointed on 28 January 2016, which went into administration on 8 June 2018. The company moved out of administration into creditors voluntary liquidation on 31 May 2019. The company was dissolved on 24 May 2021 with unsatisfied unsecured creditors of approximately £4.1m according to the notice of final account prior to dissolution, filed at company's house on 15 February 2021.

Mr Hitchcock was formerly a Director of Cyrus RW Holdings Limited. It went into administration on 21 February 2018.The company was dissolved on 20 February 2020 with approximately £3m outstanding to creditors according to the notice of final account prior to dissolution, filed at Companies House on 14 November 2019.

ENDS

For more information, contact:

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 the United Kingdom.

For more information see www.powerhouseenergy.net