Hydrogen – Powerhouse Energy boosted as Australian venture advances
Powerhouse Energy Group PLC (AIM:PHE) has updated investors on its Australian project with National Hydrogen of Australia, where the company and NH2 have established a new vehicle National Waste to Energy.
The AIM-quoted firm will have a 5% equity stake in National Waste to Energy, which has secured an ‘offer to lease’ for a site in the Rockingham Strategic Industrial Area south of Perth.
The phased project is expected to include an initial 40-tonne-per-day Distributed Modular Generation train, a later hydrogen separation unit and a second 40-tonne-per-day train.
National Waste to Energy has, meanwhile, also entered a power offtake agreement with a large independent energy provider and secured a feedstock agreement for sorted mixed plastics.
Chief executive Paul Emmitt, said:
The creation of the SPV, the signed Offer to Lease and the progression of funding are significant steps forward in our collaboration with National Hydrogen and a further huge endorsement of our DMG process,
He, added:
We are delighted to be an incoming shareholder in the SPV; working on this project with National Hydrogen, as well as further building on our relationship with them and supporting them to deliver other projects.
READ the latest news shaping the hydrogen market at Hydrogen Central
Hydrogen – Powerhouse Energy boosted as Australian venture advances, source
