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Powerhouse Energy sees product rollout to 100 sites through partner company
Powerhouse Energy Group announced on Friday that its hydrogen-from-waste technology will be used in 100 UK installations from partner company Waste2Tricity.
The AIM-traded company's DMG-Core system, which enables energy-from-waste and plastic groups to make money from their refuse by turning unrecyclable plastic and rubber into energy, will be central to the planned roll-out and further installations are planned for mainland Europe.
Howard White, deputy chairman of Waste2Tricity, said: "This announcement of the DMG-Core enables us to target 100 plus existing installations in the UK and several hundred in continental Europe where the scaled down model can be introduced to create a highly profitable, low risk opportunity that will both solve a problem and increase the efficiency of current facilities, giving them the possibility of upgrading to hydrogen extraction and retail at the target price."
PowerHouse Energy's process converts 25 tonnes of waste into one tonne of hydrogen per day and 28 Mwh per day of electricity.
Waste2Tricity said that it expects that each installation will be structured as a special company and generate £900,000 in revenues on average per year, with Powerhouse Energy set to receive a 20% licence fee and a share of revenue.
"The pathway to a sustainable Hydrogen Economy is by developing a distributed network of profitable hydrogen generation systems able to retail hydrogen at a price comparable to hydrocarbons - £3 per kg," said White.
Waste2Energy works with clients to develop, fund and support energy-from-waste projects using proven technology, while Powerhouse Energy Group is focused on creating environmentally sound methods for managing waste eradication, landfill diversion and hydrogen production.
As of 0959 BST, Powerhouse Energy Group's shares were up 8.04% at 0.58p.