Powerhouse Ener Regulatory News (PHE)

POWERHOUSE ENERGY GROUP PLC - Directorate Changes

PR Newswire

London, February 28

Powerhouse Energy Group plc

("Powerhouse" or the "Company")

1 March 2022

Directorate Change and Appointment of New Chairman

Powerhouse Energy Group plc (AIM: PHE) is the UK headquartered technology company commercialising hydrogen production from non-recyclable plastic waste. 

Today the Company announces the following change of Non-Executive Chairman. 

James Greenstreet will step down today from his role as Non-Executive Chairman, having agreed to postpone his previously announced intention to do so. James will continue as a Non-Executive Director until 30 June 2022. 

Recently appointed CEO of Powerhouse, Paul Drennan-Durose, said ‘The Board would like to publicly express its thanks to James for his work and support as Chairman and are pleased he has agreed to stay on as a Non-Executive Director. At the same time, I can announce that Russell Ward has been selected and appointed as Non-Executive Chairman, with immediate effect’. 

Russell Ward was appointed as a Non-Executive Director on 4 February 2022. The Board, in considering a Chairman, have agreed that Russell is the most suitable candidate for the role. Paul continued, “I have worked closely with Russell previously. I am therefore pleased he joined the board, and subsequently, has agreed to quickly take the role as Non-Executive Chairman. His corporate, board, and operational experience in industry will be of value and relevance to the Company, and to shareholders.’

-ENDS-

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Notes to 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.

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.co.uk