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Powerhouse Energy Waste2tricity grant for DMG Hydrogen from waste development at Protos

PowerHouse Energy (LON:PHE), the UK technology company pioneering hydrogen production from waste plastic, today announced that a grant of £1.25m has been awarded to, Waste2tricity Protos Ltd, for the DMG® Hydrogen from Waste development at Protos, near Ellesmere Port, in Cheshire.

David Ryan, CEO of PowerHouse Energy said:

“We congratulate W2T and Peel on securing this award from Cheshire and Warrington Local Enterprise Partnership,  representing confidence in our DMG process as an important technology to deliver clean energy from unrecyclable waste plastic.Furthermore we are delighted and encouraged to be recognised as a component in the North West Region’s strategy to provide clean growth.”

The Company’s development partner Waste2Tricity (W2T) have secured the grant for the development on behalf of its subsidiary following a successful application to the £4.1m Energy Fund competition, run by Cheshire and Warrington Local Enterprise Partnership (LEP) as part of the Local Growth Fund (LGF),  which awards capital grants for projects that can support the objectives of the LEP’s Energy and Clean Growth Strategy.

The £1.25m grant is to fund purchase of the thermal conversion chamber, a core element  of the DMG® hydrogen from plastic waste plant and will be subject to the DMG development at Protos achieving planning approval and funding by the end of March 2020.

Robert Mee DL, LEP Board Member and Chair of the Strategy Board said:

“The LEP is clear in its ambition to be a leader in clean growth and developed the Energy Fund to support the sector in accelerating the pace and scale of innovation in energy technology and distribution. W2T’s application to the fund clearly made the case for the benefits of plastics recycling in the creation of hydrogen fuel, with their proposed  £20m plant in Ellesmere Port set to be a UK leader in this field.”

Tim Yeo, Chairman of Waste2Tricity said:

“This grant offer recognises the importance of the PHE DMG technology and the impact it may have on assistuing Cheshire and Warrington and potentially the country to the target of net zero emissions – through the creation of hydrogen fuel from waste plastic.  Cheshire and Warrington’s Energy and Clean Growth Strategy shows leadership in this area, one that the rest of the country should look to”.

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