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PowerHouse Energy Group plc Waste2Tricity Report in The Sunday Examiner

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 would like to clarify the reporting regarding ownership of intellectual property relating to Thermal Conversion Technologies by Waste2Tricity, Ltd by the Sunday Examiner on 30 December 2018.

While not mentioning PowerHouse specifically, the Examiner inadvertently reported that Waste2Tricity, Ltd, the UK Project Development Partner for PowerHouse for a number of distributed electricity and distributed hydrogen projects within the UK and elsewhere “has patented a method of heating plastic until it ‘gasifies’ into hydrogen….”

The actual patents related to the thermal conversion of waste plastic to hydrogen and electricity have been developed, and are in the process of being filed, by PowerHouse Energy Group, plc and all proprietary IP related to the DMG® Thermal Conversion Process is owned by PowerHouse and will be licensed to Waste2Tricity.

This inadvertent error in reporting has resulted in a number of inquiries regarding the IP position of PowerHouse as it relates to its DMG® System technology. To clarify, Waste2Tricity is a licensee of PowerHouse Technology and IP and will pay to leverage that IP to develop projects in a number of geographies including the UK and Japan. The Examiner article further states that Waste2Tricity has “teamed up with Toyota to open new recycling and refueling stations….” However, to date, no agreements regarding the deployment of the DMG® Technology for new recycling and refueling stations have been finalized between the parties.

As announced on 26 November 2018 Waste2Tricity has been leading discussions with Toyota Tsusho (Toyota) for a number of months. An extensive review of the DMG® technology by Toyota Tsusho’s Chemical Business Development Division is under way subsequent to PHE having achieved its recent “Statement of Feasibility” by DNV-GL, a leading provider of technical assurance world-wide.

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.”

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