Powerhouse Energy says landmark deal with National Hydrogen of Australia is a game changer
London, UK
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February 28, 2024 03:10 AM Eastern Standard Time
Powerhouse Energy Group PLC (AIM:PHE) CEO Paul Emmitt tells Proactive's Stephen Gunnion that a five-year framework agreement with National Hydrogen of Australia is a significant milestone for the company and an endorsement of its proprietary waste-to-energy technology.
Emmitt said the two companies have collaborated on feasibility and engineering assessments over the past two and a half years, with intense due diligence conducted on the technology. This collaboration has led to the technology being shortlisted by a major Japanese entity, further validating Powerhouse Energy's solutions.
The agreement, initially expected to cover projects in Australia, has expanded to include Hong Kong, Italy, and Switzerland, thanks to undisclosed partnering entities. This deal is notable for requiring no upfront funding from Powerhouse Energy; instead, it operates on a fully funded front-end engineering design model that transitions into a licensing and royalty agreement. This shift significantly reduces financial burdens on Powerhouse and secures its involvement throughout project development and execution phases.
Under the agreement, Powerhouse will develop the entirety of the facilities for each project, from feedstock processing to hydrogen export, leveraging its intellectual property in sim gas control. This involves close collaboration with yet-to-be-selected EPC contractors and a guarantee of the output quality of sim gas from the processing kiln.
Emmitt highlighted the partnership's potential to set new benchmarks in the hydrogen industry, emphasizing the importance of integrated waste processing and hydrogen distribution networks.
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