Last checked at 22 May 2024 07:00
22 May 2024
Powerhouse Energy Group Plc
(the "Company" or "PHE")
Resolution of European Patent Challenge
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 the claim originally issued on 6 October 2023 by GetGo Recycling Limited (now called Onunda Ltd) ("Onunda") against its European patent and patent applications has been resolved.
An agreement has been reached to resolve the issues and the Company looks forward to progressing its other patent applications within Europe and the rest of the world.
The agreement ensures that no additional challenge to Powerhouse's patents worldwide will be raised by Onunda or any of its group companies, now or in the future.
Paul Emmitt, CEO of PHE commented:
"This is a major step forward for Powerhouse and I am pleased that this matter has been resolved. The whole process has been extremely time consuming and a significant diversion for the team over the last seven months. The closure of this matter now allows us to return to our main goals of progressing our R&D activities, the FTU and our project pipeline which we believe will provide value to our shareholders."
This announcement contains inside information for the purposes of the UK version of the market abuse regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended.
For more information, contact: | |
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Powerhouse Energy Group plc Paul Emmitt
| +44 (0) 203 368 6399 |
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Strand Hanson Limited (Nominated & Financial Adviser) Ritchie Balmer James Harris Rob Patrick
| +44 (0) 207 409 3494 |
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Turner Pope Investments (TPI) Ltd (Broker) Andrew Thacker James Pope
| +44 (0) 203 657 0050 |
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Tavistock (Financial PR) Simon Hudson Nick Elwes Saskia Sizen | powerhouse@tavistock.co.uk
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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 Group also incorporates Engsolve Ltd, who offer Engineering Services across all sectors with speciality services in the development of new technologies and clean energy.
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.phegroup.com