Powerhouse Energy appoints Board member Tim Yeo as Chairman of the Board of Directors

– UK, Bingley –  Powerhouse Energy Group plc (LON: PHE), the UK technology company commercialising hydrogen production from waste plastic, today announced the appointment of non-executive director and deputy chair, Tim Yeo, as new Chairman of the Board of Directors, with immediate effect, succeeding Dr Cameron Davies who is handing over the Chair and will continue as a non-executive director.

Tim Yeo, new Chairman of Powerhouse, said: “On behalf of the whole Board and all our shareholders I would like to express my warmest thanks to Cameron for his dedication and hard work as Chairman. We are all pleased that we will still have the benefit of his wise counsel as he will continue as a non-executive director.

“I am honoured to be appointed Chairman of Powerhouse as it stands on the threshold of a new era in its history with the initiation of the Protos application of our DMG technology. Our urgent task now is to start building our first commercial-scale plant and bring forward the day when the world can benefit from the huge environmental benefits which our technology will deliver.”

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 process.

The Powerhouse DMG process can generate up to 2 tonnes of road-fuel quality H2, and 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, PHE will receive an annual license fee of £500,000 in respect of each project which is commissioned.

For more information: https://www.powerhouseenergy.net/

- DisclaimerNews, data, and statements included in this release are intended exclusively for general information purposes. Talent4Boards does not guarantee that news is accurate or about the correct person and accepts neither liability for the consequences of the reader’s reliance, nor responsibility for the accuracy of the information. Nothing in this release should be considered for decisions about referred securities. Products and brand names may be trademarks or registered trademarks of their respective owners.