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PowerHouse Energy Group plc Discussions with Toyota Tsusho Corporation

Keith Allaun, CEO of PowerHouse commented:

“Whilst there can be no certainty these negotiations will result in a formal agreement, I’m extremely enthusiastic about this opportunity to explore how our DMG® technology can be exploited in Japan – an ideal market for our Systems.

“Toyota is taking a leading role globally in the use of hydrogen in transport and appears to recognize the value proposition that our distributed system has with it’s small foot-print, its efficiency, and its ability to deliver road-quality hydrogen, at a competitive price, as and when its needed.”

Toyota Tsusho is one of the 17 members of the Toyota Group. On its website, Toyota Tsusho is described, “As the Toyota Group’s sole general trading company, we gather information and promote the development of new business from a global perspective. As automotive professionals with unique capabilities and know-how, we strive to lead the Toyota Group in the challenge to develop the evolution of next-generation mobility to contribute to the development of both society and the Toyota Group.”

PowerHouse Energy Group plc (LON: PHE), the UK technology company pioneering hydrogen production from waste plastic and used tyres and developer of the DMG® System today announced that it has received a formal invitation from Toyota Tsusho Corporation of Japan to engage in advanced commercial discussions regarding the PowerHouse DMG® technology.

This invitation has been made subsequent to an extensive review of the DMG® technology by Toyota Tsusho’s Chemical Business Development Division and subsequent to PHE having achieved its recent “Statement of Feasibility” by DNV-GL, a leading provider of technical assurance world-wide.

Following Toyota Tsusho’s review of the PHE Basic Engineering Package and the DNV-GL technical qualification process, PHE now welcome the news that Toyota Tusho have positively reviewed the DMG® technology and consider that DMG® and its application within Japan and Asia offers significant potential.

Mr. Takashi Torigoe, General Manager, Chemical Business Development stated:

“We have been reviewing Power House Energy’s DMG technology over the last few months and take great interest in it. We are excited and looking forward to a potential partnership in Japan and possibly worldwide.”

Discussions with Toyota Tsusho have been led by our UK Project Development Team, Waste2Tricity Ltd. with support from our technical team. It is expected that the next level of work for Toyota Tsusho by PHE will include further technical and commercial application engineering for the Toyota Tusho/W2T Project teams to secure regional early adopters to enhance the project pipeline in a variety of geographies.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.