Powerhouse Energy is set to deploy its hydrogen production technology in Poland, Greece and Hungary with the signing of binding agreement with several companies.
The PGH exclusivity agreement with Hydrogen Utopia International (HUI) will use Powerhouse’s DMG® technology to produce hydrogen from waste plastic.
Powerhouse Energy’s DMG® technology converts waste plastic into syngas and/or hydrogen; helping to reduce plastic pollution whilst also increasing the production of hydrogen in the selected countries.
HUI will now look to develop a project pipeline for the technology and will seek funding from and partnering with states, regional authorities, and the private sector in targeted regions.
James Greenstreet, Non-Executive Chairman of Powerhouse Energy Group, said, “Powerhouse is pleased to sign this binding exclusivity agreement with HUI which is a champion of our technology, seeking to drive 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.”
Aleksandra Binkowska, CEO of Hydrogen Utopia International, said, “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 to look to 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.”
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