Powerhouse Ener Regulatory News (PHE)

POWERHOUSE ENERGY GROUP PLC - Directorate Changes

PR Newswire

London, February 3

Powerhouse Energy Group plc

("Powerhouse" or the "Company")

4 February 2022

Board appointments

Powerhouse Energy Group plc (AIM: PHE), the UK technology company commercialising hydrogen production from plastic, is pleased to announce that that it has appointed Russell Ward and Hugh McAlister as Non-Executive Directors with immediate effect. 

Russell Ward has many years’ experience at board level across a range of sectors including power and energy, oil and gas, materials handling and processing, infrastructure and rail, and electronics and military systems and has a strong record of performance turnaround and business expansion. His skills include operational leadership and strategic development and he has strong relationships with private equity and other investors.

Russell was the chief executive office of Motherwell Bridge Limited, a global engineering group where he led the turnaround of the business, selling it to Cape Plc in 2014 where he then became Managing Director, forming and leading Cape’s global specialist service group for 3 years. He then undertook as CEO the turnaround and sale of Aspin Group in 2018 for its private equity owner. He was the chairman at Heliex Power Ltd, a company creating cleantech energy from waste heat and steam, until 2021. His current roles include chairman of Nucore Group Limited, a provider of HVAC and safety critical integrated solutions, chairman of Shorterm Group Ltd which is a specialist technical engineering recruitment firm, and chairman of Advanced Innergy Group Ltd, a global leader in fire and insulation products.

On joining the Board of Powerhouse Russell Ward said: “I’m delighted to be joining Powerhouse Energy and hope to bring my expertise to the board as the Company develops its pioneering technology. I look forward to working with the team to help deliver the UK’s first facility at Protos and see its technology rolled out internationally.”

With over 40 years’ stockbroking experience in the City, Hugh McAlister has been the executive chairman of Novum Securities Limited since 2018, having been its Chief Executive Officer for the previous nine years. Prior to this, Hugh was a founding partner and head of trading a Kaupthing Singer & Friedlander Capital Markets and Head of Pan European Equities at Dresdner Kleinwort Benson.

On joining the Board of Powerhouse Hugh McAlister said: “I am pleased to have joined Powerhouse at an exciting time for the company as its technology aims to help the world transition to clean energy, whilst providing a solution to end-of-life plastic. I look forward to working with the board and management team to deliver the UK’s first facility at Protos and see Powerhouse technology rolled out globally”.

James Greenstreet said: “We welcome the appointment of Russell whose experience within the power and energy sectors will help support Powerhouse in its ambition to become a global leader in technology solutions that transform plastics and waste into clean energy. We also welcome Hugh, whose appointment strengthens the Powerhouse board in what is an exciting time for the Company. We are delighted Hugh and Russell will be supporting the board and management team as we aim for the global rollout of this first of a kind technology and see the delivery of the UK’s first facility at Protos.” 

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: Russell Ward

Age:  60

Russell Ward is, or has during the last five years been, a director or partner of the following companies and partnerships:

Current Directorships:

Shorterm Group Ltd

Nucore Group Ltd

Nucore Group Holdings Ltd

Advanced Innergy Holdings Ltd

Oteac Limited

Grouse Topco Limited

Advanced Innergy Holdings Ltd

Advanced Innergy EBT Ltd

RW Industrial Services Limited

Past Directorships:

Heliex Power Ltd

Aspin Group Limited

Aspin Rail Limited

Aspin Consulting Limited

Aspin Construction Group Limited

Aspin Plant Limited

Aspin Underpinning Limited

Aspin Agreements Ltd

McGrattan Piling and Supplies Limited

Rogers Structural Investigations Limited

FMGH1 Limited

Castlegate Nexus Ltd

Formaplex Group Ltd

Cape Plc

Russell Ward does not hold any ordinary shares in the Company.

Full Name: Hugh Michael Grant McAlister

Age:  61

Hugh McAlister is, or has during the last five years been, a director or partner of the following companies and partnerships:

Current Directorships:

Novum Securities Limited

Novum Private Clients Limited

Hyde Park Holdings Limited

Rienplus Limited

Past Directorships:

Novum Nominees Limited

Hugh McAlister does not hold any ordinary shares in the Company.

-ENDS-

For more information, contact: 

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.

The Powerhouse DMG® process can generate up to 2 tonnes of road-fuel quality hydrogen or 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.co.uk