LONDON (ShareCast) - (ShareCast News) - PowerHouse Energy Group announced on Wednesday that it has entered into a memorandum of understanding with Energy & Environment Holding (EEH), an independent consulting firm specialising in energy, environment, privatisation, and sustainable development based in Doha, Qatar.
The AIM-traded firm said the MoU had been established to jointly investigate the opportunity of enabling Qatar to establish a network of 'DMG' systems for the conversion of waste-to-hydrogen, and distribute the low-cost, low-carbon hydrogen through a network of fuel cell vehicle filling stations in advance of, and in preparation for, the 2022 FIFA World Cup.

While the MoU was not fully binding, and there was no certainty it would result in a firm agreement, the company said it saw it as a "promising step", and looked forward to updating the market of its progress.

The objective of the project is to install a number of low-cost, low-carbon, hydrogen refueling stations in support of potential fleets of hydrogen powered buses, taxis, and other vehicles, thereby enabling Qatar to become a leading promoter of the "burgeoning" hydrogen economy.

PowerHouse said the project was expected to be led by the CEO of EEH, Roudi Baroudi, also a member of the PowerHouse Advisory Panel.

An early review of the project suggested that around 20 DMG systems in Doha and surrounding areas would provide sufficient hydrogen to supply several thousand cars and buses leading up to, and in support of, the 2022 FIFA World Cup, the PowerHouse board explained.

PowerHouse and EEH said they anticipated the setup of a joint venture company in which EEH would hold 51% of the equity and be responsible for the acquisition of suitable land, obtaining relevant permits, licenses or approvals from Qatari public bodies and identifying and supplying appropriate waste streams.

EEH would also be responsible for procuring third party financing for the project.

PowerHouse said it would grant the joint venture an exclusive licence for the use of its G3-UHt DMG technology in Qatar, within the scope of operation of the project.

Roudi Baroudi would oversee the development of the joint venture in the initial stages of the project.

"This is an exciting and ground-breaking project," said Roudi Baroudi.

"Qatar has significant waste difficulties, and PowerHouse's technology provides a safe, clean, and sustainable solution for dealing with some of this waste, at the same time providing state-wide availability of low-cost vehicular hydrogen.

"Qatar will become the first country globally to enjoy this level of coverage, so in environmental terms, this is not just, a significant step forward for the country, but also a compelling example for the entire international community."

Baroudi said Qatar had also proved a "hotbed" for alternative fuel research and development, with both private and public local companies undertaking a variety of ventures, often with major international partners.

Keith Allaun, executive chairman of PowerHouse Energy, said the MoU represented a "very significant step forward" for the progress of PowerHouse and its technology.

"The recent successful testing of our reconfigured G3-UHt facility was a necessary and vital step in providing proof of concept of our technology and this MOU, with EEH, whilst currently non-binding, provides third-party validation.

"While this is only in its early stages, this concept is precisely the vision we've held for the commercial roll-out of DMG - both in the UK and elsewhere."

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