Powerhouse Energy Group (PHE)

Sector:

Investment Firms

Index:

FTSE AIM All-Share

1.09p
   
  • Change Today:
    -0.010p
  • 52 Week High: 1.16
  • 52 Week Low: 0.25
  • Currency: UK Pounds
  • Shares Issued: 4,165.41m
  • Volume: 12,218,481
  • Market Cap: £45.40m

Powerhouse enters binding agreement with Hydrogen Utopia

By Josh White

Date: Tuesday 31 Aug 2021

LONDON (ShareCast) - (Sharecast News) - Waste-to-hydrogen technology company Powerhouse Energy has entered into a binding agreement with Hydrogen Utopia International (HUI), under which HUI has been granted an exclusive non-transferable licence for the application of Powerhouse's 'DMG' technology in Poland, Greece and Hungary.
The AIM-traded firm said HUI's corporate mission is to create a project pipeline for the DMG technology in those regions, through seeking funding from and partnering with states, regional authorities and the private sector in targeted regions to facilitate its deployment.

It said the exclusivity agreement followed the agreement of non-legally binding heads of terms with HUI in Poland, announced on 12 November 2020, and Greece and Hungary, announced on 10 May 2021, and the payment by HUI to Powerhouse of deposits totalling €0.13m.

Under the agreement, HUI would pay Powerhouse a further €0.33m by the end of 2021, when the formal intellectual property licence for the DMG technology was expected to have been granted to HUI, with a further €0.3m to be paid 12 months later.

A royalty fee would be agreed as part of the expected licence agreement.

In addition, Powerhouse said it would continue to receive a licence fee for any DMG plant which becomes operational in any location in the world.

As a result, the company's worldwide rights to ongoing licensing fees for the DMG technology were unaffected by the exclusivity agreement.

"Powerhouse is pleased to sign this binding exclusivity agreement with HUI which is a champion of our technology, seeking to drive its rollout across Poland, Greece and Hungary," said non-executive chairman James Greenstreet.

"This builds on our announcement of 12 November 2020 and is part of our long-term vision for DMG technology to be deployed internationally, helping the world transition to clean energy whilst providing a solution to end-of-life plastic."

At 1144 BST, shares in Powerhouse Energy Group were up 3.17% at 3.9p.

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PHE Market Data

Currency UK Pounds
Share Price 1.09p
Change Today -0.010p
% Change -0.91 %
52 Week High 1.16
52 Week Low 0.25
Volume 12,218,481
Shares Issued 4,165.41m
Market Cap £45.40m

PHE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
41.14% above the market average41.14% above the market average41.14% above the market average41.14% above the market average41.14% above the market average
35.14% above the sector average35.14% above the sector average35.14% above the sector average35.14% above the sector average35.14% above the sector average
Income Not Available
Growth
4.75% below the market average4.75% below the market average4.75% below the market average4.75% below the market average4.75% below the market average
3.95% below the sector average3.95% below the sector average3.95% below the sector average3.95% below the sector average3.95% below the sector average

PHE Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 232,558 @ 1.09p
16:35 232,558 @ 1.09p
16:26 9,236 @ 1.07p
16:18 1,818 @ 1.10p
16:06 94,815 @ 1.07p

PHE Key Personnel

CEO Paul Emmitt
CFO Ben Scott Brier

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