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13 July 2023
Powerhouse Energy Group Plc
(the "Company" or "PHE")
European Patent Application Allowed
Powerhouse Energy Group Plc (AIM: PHE), a company pioneering integrated technology that converts non-recyclable waste into low carbon energy, is pleased to announce that its European Patent Application No 20751207.0; "Method and Apparatus for the Treatment of Waste Material" has been "Allowed". The application will now be progressed towards a full grant of patent which will be granted on payment of the applicable fee and will provide protection in the UK and Ireland as well as across Europe.
The patent application is in relation to protection around the control of the heating of the waste within the Thermal Conversion Chamber ("TCC") over several zones to allow the optimum synthesis gas to be produced. This allows the temperature profile in the TCC to be adjusted to give the optimal syngas composition. The TCC is the main thermal chamber or kiln where the conversion of the waste feedstock to a syngas takes place.
The patent application being allowed is a significant milestone for PHE as it means that the patent can now move forward to being fully granted. This also provides validation for the work undertaken by the team and reinforces the point that the Company has taken a known and proven base technology and created an innovative solution. The Board believes that this will help it to penetrate and disrupt the clean energy market and also give protection to PHE's proprietary technology.
The UK and Europe are expected to become key markets and the granting of patent protection in these territories is therefore an important step for the Company. PHE is in discussions with a number of clients, from a diverse range of industries and sectors, each of which require a solution for their waste and are seeking to reduce their reliance on virgin fossil fuels.
PHE looks forward to progressing its other patent applications within Europe and the rest of the world.
Keith Riley, Acting CEO of PHE, commented:
"This is an important step for the Company in establishing itself as a major developer within the waste processing sector. The patent application being allowed is a key step to having the patent fully granted, which adds value to what PHE can offer to its clients."
Paul Emmitt, Chief Operating Officer of PHE, commented:
"We are delighted to have progressed this European patent, which will allow us to accelerate the development of commercial applications for our technology. I also see this as justification of the engineering work that has gone into getting us to this point."
For more information, contact:
Powerhouse Energy Group plc Keith Riley
| powerhouse@tavistock.co.uk
|
WH Ireland Limited (Nominated Adviser) James Joyce James Bavister
| +44 (0) 207 220 1666 |
Turner Pope Investments (TPI) Ltd (Joint Broker) Andrew Thacker James Pope
| +44 (0) 203 657 0050 |
Tavistock (Financial PR) Simon Hudson Nick Elwes Heather Armstrong | powerhouse@tavistock.co.uk
|
The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
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 England and Wales.
For more information see www.powerhouseenergy.co.uk