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PowerHouse Energy Group #PHE issues 17.89m shares to service providers
PowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering hydrogen production from waste plastic and end-of-life tyres, announces the issue of 17,894,737 ordinary shares of 0.5p each in the Company to service providers for the settlement of fees.
Of the 17,894,737 Ordinary Shares, 7,894,737 are being issued at 0.76p per Ordinary Share and 10,000,000 are being issued at 0.5p per Ordinary Shares in accordance with the terms of the relevant service agreements.
Application is being made for the admission of 17,894,737 new Ordinary Shares to trading on AIM and it is expected that this will occur on or around 23 May 2018. These shares will rank pari passu in all respects with the Company’s existing issued Ordinary Shares.
Subsequent to the issue of the New Ordinary Shares, the Company will have 1,550,453,026 Ordinary Shares in issue.
PowerHouse has no shares in Treasury, therefore this figure may be used by Shareholders, from Admission, as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules.
For more information, contact:
| PowerHouse Energy Group plc Keith Allaun, Chief Executive Officer |
Tel: +44 (0) 203 368 6399 |
| WH Ireland Limited (Nominated Adviser) James Joyce / Chris Viggor |
Tel: +44 (0) 207 220 1666 |
| Turner Pope Investments Ltd (Broker) Andy Thacker |
Tel: +44 (0) 203 621 4120 |
About PowerHouse Energy
PowerHouse Energy has developed proprietary process technology called DMG® which takes plastic and rubber waste streams and converts them into cost efficient energy in the form of electricity and ultra clean hydrogen gas fuel for use in cars and commercial vehicles (FCEV: Fuel Cell Electric Vehicles) and other industrial uses. The PowerHouse technology is the world’s first proven hydrogen from waste (HfW) process.
The PowerHouse process converts 25 tonne of plastic or rubber waste into 1 tonne H2 per day and 28 MWh per day of electricity.
The PHE process produces low levels of safe residues and requires a small operating footprint, making it suitable for deployment at enterprise and community level.
PowerHouse is quoted on the London Stock Exchange’s AIM Market. The Company is incorporated in the United Kingdom.
For more information see www.powerhouseenergy.net.
PowerHouse Energy #PHE – Clarifications re Equity Placings
GENERAL TEXT AMENDMENT & CLARIFICATION
The following amendments have been made to the ‘Equity Placings’ announcement released on 18 April 2018 at 12:10PM.
The number of New Ordinary Shares issued and being applied for Admission in the text should read 115,255,355 representing 7.5 per cent of the enlarged share capital. The Company has therefore raised gross proceeds of £576,276.76 in addition to the 64,744,645 existing shares placed on behalf of Hillgrove Investments pty ltd, thereby eliminating the shares related to the convertible note.
All other details remain unchanged. The full amended text is shown below.
PowerHouse Energy Group, plc
Equity Placings
PowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering hydrogen production from waste plastic and end-of-life tyres, announces the placing of New and Existing Ordinary Shares with private shareholders.
Details of the Placing
The Company has placed 180,000,000 ordinary shares, representing an issue of 115,255,355 new shares and 64,744,645 existing shares.
The Company has issued 115,255,355 New Ordinary Shares of 0.5p each at 0.5p per share in an over subscribed placing and direct subscription to raise gross proceeds for the Company of £576,276.76. The net proceeds will be utilised to support the commercial development of PowerHouse’s proprietary technology DMG® which takes plastic and rubber waste streams and converts them into cost efficient energy in the form of electricity and ultra clean hydrogen gas fuel.
In addition, all of the shares remaining in the control of PowerHouse as a result of the Convertible Note with Hillgrove Investments Pty Ltd have now been placed. The final 64,744,645 Ordinary Shares of 0.5p remaining in relation to Hillgrove as announced on 31 January 2018 have been placed at 0.5p per share with private shareholders on behalf of Hillgrove which is now no longer a substantial shareholder in the Company. The Placings were carried out by the Company’s Broker, Turner Pope Investments TPI Limited, and Joint Placing Agent, Cornhill Capital
Application is being made for the admission of 115,255,355 new Ordinary Shares, representing 7.5 per cent of the enlarged share issued shares in issue to trading on AIM and it is expected that this will occur on or around 25 April 2018. These shares will rank pari passu in all respects with the Company’s existing issued Ordinary Shares.
Subsequent to the issue of the New Ordinary Shares, the Company will have 1,532,558,289 Ordinary Shares in issue and there are no shares in Treasury, therefore this figure may be used by Shareholders, from Admission, as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules.
Keith Allaun, CEO of PowerHouse, said: “We are delighted with the support from existing and new shareholders. The PowerHouse System continues to demonstrate that at commercial scale, our outstanding waste-to-hydrogen technology will be delivering distributed hydrogen in the most ecologically responsible, economically efficient, distributed manner, and position PowerHouse as a key hydrogen player. We intend to be providing the lowest cost hydrogen fuel in the world, whilst making a major contribution to reducing the plastic and rubber waste problem- and dramatically reducing air pollution.”
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via Regulatory Information Service (“RIS”), this inside information is now considered to be in the public domain.
Enquiries:
| PowerHouse Energy Group plc Keith Allaun, Chief Executive Officer |
Tel: +44 (0) 203 368 6399 |
| WH Ireland Limited (Nominated Adviser) James Joyce / Chris Viggor |
Tel: +44 (0) 207 220 1666 |
| Turner Pope Investments TPI Ltd (Broker) James Pope / Andy Thacker |
Tel: +44 (0) 203 621 4120 |
| Gable Communications Limited John Bick / Justine James |
Tel: +44 (0) 20 7193 7463 |
About PowerHouse Energy
PowerHouse Energy has developed proprietary process technology called DMG® which takes plastic and rubber waste streams and converts them into cost efficient energy in the form of electricity and ultra clean hydrogen gas fuel for use in cars and commercial vehicles (FCEV: Fuel Cell Electric Vehicles) and other industrial uses. The PowerHouse technology is the world’s first proven hydrogen from waste (HfW) process.
The PowerHouse process converts 25 tonne of plastic or rubber waste into 1 tonne H2 per day and 28 MWh per day of electricity.
The PHE process produces low levels of safe residues and requires a small operating footprint, making it suitable for deployment at enterprise and community level.
PowerHouse is quoted on the London Stock Exchange’s AIM Market. The Company is incorporated in the United Kingdom.
For more information see www.powerhouseenergy.net.
PowerHouse Energy Group #PHE raises £900k gross in oversubscribed equity placing
PowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering hydrogen production from waste plastic and end-of-life tyres, announces the placing of New and Existing Ordinary Shares with private shareholders.
Details of the Placing
The Company has issued 180,000,000 New Ordinary Shares of 0.5p each at 0.5p per share in an over subscribed placing and direct subscription to raise gross proceeds for the Company of £900,000.00. The net proceeds will be utilised to support the commercial development of PowerHouse’s proprietary technology DMG® which takes plastic and rubber waste streams and converts them into cost efficient energy in the form of electricity and ultra clean hydrogen gas fuel.
All of the shares remaining in the control of PowerHouse as a result of the Convertible Note with Hillgrove Investments Pty Ltd have now been placed. The final 64,744,645 Ordinary Shares of 0.5p remaining in relation to Hillgrove as announced on 31 January 2018 have been placed at 0.5p per share with private shareholders on behalf of Hillgrove which is now no longer a substantial shareholder in the Company. The Placings were carried out by the Company’s Broker, Turner Pope Investments TPI Limited, and Joint Placing Agent, Cornhill Capital.
Application is being made for the admission of 180,000,000 new Ordinary Shares, representing 11.7 per cent of the enlarged share issued shares in issue to trading on AIM and it is expected that this will occur on or around 25 April 2018. These shares will rank pari passu in all respects with the Company’s existing issued Ordinary Shares.
Subsequent to the issue of the New Ordinary Shares, the Company will have 1,532,558,289 Ordinary Shares in issue and there are no shares in Treasury, therefore this figure may be used by Shareholders, from Admission, as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules.
Keith Allaun, CEO of PowerHouse, said: “We are delighted with the support from existing and new shareholders. The PowerHouse System continues to demonstrate that at commercial scale, our outstanding waste-to-hydrogen technology will be delivering distributed hydrogen in the most ecologically responsible, economically efficient, distributed manner, and position PowerHouse as a key hydrogen player. We intend to be one of the lowest cost providers of hydrogen fuel in the world, whilst making a major contribution to reducing the plastic and rubber waste problem- and dramatically reducing air pollution.”
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.
Enquiries:
| PowerHouse Energy Group plc Keith Allaun, Chief Executive Officer |
Tel: +44 (0) 203 368 6399 |
| WH Ireland Limited (Nominated Adviser) James Joyce / Chris Viggor |
Tel: +44 (0) 207 220 1666 |
| Turner Pope Investments TPI Ltd (Broker) James Pope / Andy Thacker |
Tel: +44 (0) 203 621 4120 |
| Gable Communications Limited John Bick / Justine James |
Tel: +44 (0) 20 7193 7463 |
About PowerHouse Energy
PowerHouse Energy has developed proprietary process technology called DMG® which takes plastic and rubber waste streams and converts them into cost efficient energy in the form of electricity and ultra clean hydrogen gas fuel for use in cars and commercial vehicles (FCEV: Fuel Cell Electric Vehicles) and other industrial uses. The PowerHouse technology is the world’s first proven hydrogen from waste (HfW) process.
The PowerHouse process converts 25 tonne of plastic or rubber waste into 1 tonne H2 per day and 28 MWh per day of electricity.
The PHE process produces low levels of safe residues and requires a small operating footprint, making it suitable for deployment at enterprise and community level.
PowerHouse is quoted on the London Stock Exchange’s AIM Market. The Company is incorporated in the United Kingdom.
For more information see www.powerhouseenergy.net
PowerHouse Energy #PHE signs first international distribution agreement for DMG® technology into Hydrogen Bus Projects in Bulgaria and Romania
PowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering hydrogen production from waste plastic and end-of-life tyres, announces its first international distribution agreement for its proprietary DMG® hydrogen from waste (HfW) process targeting the supply into hydrogen bus projects in Bulgaria and Romania. The agreement is summarized as follows:
- Agreement between PowerHouse, Tresoil Biofuels SRL, a leading Energy Project Developer in Romania and Bulgaria and Waste2tricty, PowerHouse’s Projects Development partner.
- Provides a cost-effective turnkey solution through PowerHouse’s partner, Wrightbus, a leading bus manufacturer of zero emission hydrogen buses.
- Covers the supply of PowerHouse’s proprietary technology DMG®, the hydrogen from waste (HfW) process, into hydrogen bus projects in Bulgaria and Romania.
- Tresoil will be responsible for applying for grants, integrating with end users and enabling the establishment of Special Purchase Vehicles’s which will initially be 51% owned by the PHE/W2T relationship and 49% by Tresoil.
Bus operators in Romania and Bulgaria are actively seeking to replace aging fleets of highly polluting public transport buses, with the region encouraged by the EU to deploy low carbon alternatives. Tresoil is a well established company in Bucharest and has been involved in seeking grants for alternative energy projects and is considered a leading specialist in this area.
Powerhouse Energy, Waste2tricity and Tresoil have negotiated a three way binding agreement to seek deployments of hydrogen buses fuelled by PowerHouse’s DMG technology in partnership with Wrightbus, a leading bus manufacturer of zero emission hydrogen buses (See announcement of 20 February 2018). The potential has been identified not only in Bucharest and Sofia, but also in many other cities across these two countries as they seek to comply with EU directives to reduce pollutants and particulates.
This agreement is in line with the Company’s strategy to identify commercially viable opportunities for sales of DMG units, with various EU funding initiatives supporting decarbonising transport including grants for hydrogen bus and potential grants for the capital required to deploy PowerHouse’s DMG system. The virtuous circle of destroying mixed plastics and producing carbon neutral hydrogen and electricity falls into many categories that may be eligible for both grants and soft loans in this region and will support the desire and willingness of the local municipalities to improve the environment for their populations.
PowerHouse, Wrightbus and Tresoil can offer a competing economic solution with an attractive pay back. The distribution agreement provides that PowerHouse has the right to agree and veto the commercial terms proposed to any end user identified via Tresoil
Commenting, Keith Allaun, CEO of PowerHouse said: “We are delighted to have signed our first international agreement for DMG®, the world’s first proven hydrogen from waste process. The environmental challenges in both Bulgaria and Romania are well documented and there is clearly a determined approach in both countries to take on the pollution problem. PHE technology provides the ideal solution, particularly now as bus companies have started to replace the aging bus fleets.”
Roger Preston, Managing Director of Tresoil, added: “With the assistance of European development funds, which are specifically destined for hydrogen bus projects, we will be looking to partner with bus operators across all the major cities in both Bulgaria and Romania where there is intense pressure as they seek to comply with EU directives to reduce pollutants and particulates. bring emissions up to European standards.”
For more information, contact:
| PowerHouse Energy Group plc Keith Allaun, Chief Executive Officer |
Tel: +44 (0) 203 368 6399 |
| WH Ireland Limited (Nominated Adviser) James Joyce / Chris Viggor |
Tel: +44 (0) 207 220 1666 |
| Turner Pope Investments Ltd (Broker) Andy Thacker |
Tel: +44 (0) 203 621 4120 |
| Gable Communications Limited John Bick / Justine James |
Tel: +44 (0) 20 7193 7463 |
About PowerHouse Energy
PowerHouse Energy has developed proprietary process technology called DMG® which takes plastic and rubber waste streams and converts them into cost efficient energy in the form of electricity and ultra clean hydrogen gas fuel for use in cars and commercial vehicles (FCEV: Fuel Cell Electric Vehicles) and other industrial uses. The PowerHouse technology is the world’s first proven hydrogen from waste (HfW) process.
The PowerHouse process converts 25 tonne of plastic or rubber waste into 1 tonne H2 per day and 28 MWh per day of electricity.
The PHE process produces low levels of safe residues and requires a small operating footprint, making it suitable for deployment at enterprise and community level.
PowerHouse is quoted on the London Stock Exchange’s AIM Market. The Company is incorporated in the United Kingdom.
For more information see www.powerhouseenergy.net
About Tresoil Biofuels SRL
Tresoil Biofuels SRL’ background in renewable energy has always been on finding new innovation in sustainable green practices. Tresoil managing director with over 35 years business experience in taking companies from concept stage and growing them into profitable organisations in the UK and Europe, saw the renewable transport fuel from waste in Romania as the next key market for expansion and for him to deploy his entrepreneurial skills. He came to Romania 11 years ago with Eco Europe SRL and Eco2uk.com companies whose missions were carbon-neutral transport fuel technologies, with high value by-products for sale in Europe.