Powerhouse Energy Group Plc, a company pioneering integrated technology that converts non-recyclable waste into low carbon energy together with a revenue generating engineering consulting division (Engsolve), announces that National Hydrogen Ltd of Australia ("National H2"), with whom PHE has a five-year licensing and royalties framework agreement, has awarded Engsolve the Front-End Engineering Design (FEED) study contract for its Western Australia project.
The contract value of Three Hundred and Fifty Thousand pounds (£350,000) is fully payable by National H2, data gathering will commence in December 2024 with the FEED scheduled to begin in January 2025
This award follows National H2 securing a two-hectare site from the Western Australian Government within the Heavy Industrial Estate just south of Perth in East Rockingham, Western Australia. This site is strategically located for both electricity and hydrogen off-takers and is large enough to accommodate two Powerhouse DMG plants.
The commencement of the FEED study will allow a planning and permitting application to be submitted by National H2 as the required data is generated.
National H2 plans to develop projects in Australia, Italy, Switzerland, and Hong Kong using the Company's technology, demonstrating PHE's growing global reputation and commitment to driving the development of sustainable energy solutions.
Paul Emmitt, Chief Executive Officer, commented:
"I am very pleased that Engsolve has been awarded this order for the FEED study. This is a key milestone for both PHE and National Hydrogen and will secure revenues for Engsolve, and thus Powerhouse, whilst also further building our relationship with National Hydrogen. Given the agreement that we have with National Hydrogen, we believe that 2025 will be an exciting time for both companies as we not only look to progress the Western Australia project, but also look to develop other new opportunities."
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, as amended. 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.
