Saturday, June 19, 2021

Bingley hydrogen specialist to expand HUI partnership beyond Poland

Powerhouse Energy, a Bingley-based sustainable hydrogen company, is extending its collaboration with Hydrogen Utopia International (HUI) beyond Poland.

HUI, which is looking at deploying Powerhouse’s waste-to-energy DMG technology in Poland, has expressed an interest in broadening the relationship to include Greece and Hungary.

Powerhouse Energy to team up with Hydrogen Utopia in Poland if the two parties firm up on the deal, HUI will pay Powerhouse €250,000, of which €25,000 is payable immediately with the balance becoming payable when the conditions of the heads of terms agreement are satisfied.

Powerhouse will continue to receive a licence fee for any DMG plant that becomes operational in any location so the company’s worldwide rights to the technology are not affected by these heads of terms.

The use of this technology, which is designed to convert waste plastic into a  syngas and/or hydrogen, is subject to a formal agreement being reached between Powerhouse and HUI.

“Powerhouse is pleased to extend the countries in which it is intended HUI will help deploy its DMG technology to include Greece and Hungary having already entered a MOU memorandum of understanding in relation to Poland,” said Tim Yeo, the executive chairman of Powerhouse Energy Group.

“This is part of our long-term vision for rolling out sustainable hydrogen technology internationally. We believe this will accelerate the clean energy transition in both Hungary and Greece and provide those countries with a solution to end-oflife plastic.”

Aleksandra Binkowska, Chief Executive officer of HUI, said: “Since our first MOU in November, our mutual work has been very successful. Now with potentially three territories  under our umbrella, I believe that this will help speed up the DMG system rollout.

“The Polish Centre of Hydrogen is still our main target, but we are more than pleased to have new opportunities in new markets to target for the proposed expansion of DMG to the mutual benefit of Powerhouse and HUI.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemichaving a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.

Latest news

Related news

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.