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Powerhouse Energy signs MOU with hydrogen-powered bus maker
Waste-to-energy firm Powerhouse Energy announced a partnership memorandum of understanding with hydrogen-powered bus manufacturer Wrightbus, which the firm expects will lead to it supplying the bus maker with its Distributed Modular Gasification system for the low cost and environmentally responsible production of hydrogen.
The MOU, negotiated in collaboration with Powerhouse's commercial partner Waste2tricity, was not binding, and although there was no guarantee that a binding agreement would be entered into, the board of the Bingley-based waste-converter was confident that it would lead to a definitive agreement.
The AIM-quoted group said the "first-of-its-kind turnkey solution" would be marketed to local authorities and public transport providers in the UK and abroad, focussing primarily in city centres, where the lack of emissions generated by hydrogen fuel cell buses can bring about important environmental and quality-of-life benefits.
Keith Allaun, chief executive of Powerhouse, said, "We're delighted to announce this MOU with an alternative energy leader like Wrightbus - an innovator in clean public transport. Together, we believe we have the potential to offer a cost-effective turnkey solution in which we will produce hydrogen using our DMG process to produce the road fuel for Wrightbus's zero emission hydrogen buses."
"This is the model by which we can begin to change the environment. Together we offer a compelling proposition for transport providers such as a local authority in which they would be able to offer a zero-emission bus service at the same cost as diesel transportation, with zero emissions, and converting waste into hydrogen and electricity. Given our shared corporate objectives to make a positive difference to our world profitably, PowerHouse and Wrightbus are an ideal match," he added.
As of 0920 GMT, shares had declined 5.35% to 0.478p.