Powerhouse signs exclusive sustainable hydrogen agreement in Greece, Poland, HungarySeptember 3, 2021
The binding exclusivity agreement is for the deployment of its technology in those countries.
Powerhouse Energy Group Plc (LON stock symbol PHE), has announced that it has signed a binding exclusivity agreement for its sustainable hydrogen energy technology in Greece, Poland and Hungary.
The company uses non-recyclable waste to produce H2 primarily intended for transport fuel.
As previously reported on Hydrogen Fuel News, Powerhouse uses non-recyclable plastic waste that would otherwise end up in landfills and converts it into sustainable hydrogen fuel. The new agreement is with Hydrogen Utopia International Plc (HUI), and it has provided the company with an exclusive non-transferable license for its technology application in the three countries.
With this agreement, Powerhouse intends to license developers for delivering facilities that will provide environmentally friendly energy products into the future. The company has already secured its first licensee, Peel NRE, a part of Peel L&P. That company will be rolling out the H2 production tech across UK sites.
The sustainable hydrogen technology agreement between Powerhouse and HUI brings the tech to Europe.
The new agreement underscores the commitment of both Powerhouse and HUI for accelerating the transition to cleaner sources of energy in Europe as well as worldwide. The corporate mission at HUI includes the creation of a project pipeline for the plastic waste to energy technology in Europe by way of state funding and partnerships, as well as from and with regional authorities and the private sector. This will specifically include certain targeted regions for facilitating the tech’s deployment.
“Powerhouse is pleased to sign this binding exclusivity agreement with HUI which is a champion of our technology, driving its rollout across Poland, Greece and Hungary. This builds on our announcement of 12 November 2020 and is part of our long-term vision for DMG® technology to be deployed internationally, helping the world transition to clean energy whilst providing a solution to end-of-life plastic,” said Powerhouse Energy Group non-executive chair James Greenstreet.
“We are delighted to have formalised HUI’s exclusivity arrangements for DMG® with Powerhouse for Poland, Greece and Hungary. HUI will use its local networks and relationships in the countries licensed to it to help secure project approvals, finance and technical expertise to facilitate the deployment of DMG® technology. This will bring us closer towards our mission to accelerate the development of a circular and net zero carbon economy in Europe,” added HUI CEO Aleksandra Binkowska in a news release announcing the sustainable hydrogen agreement.