TIDMPHE
RNS Number : 6321Q
Powerhouse Energy Group PLC
22 February 2023
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22(nd) February 2023
Powerhouse Energy Group Plc
(the "Company" or "PHE")
Framework Services agreement with Petrofac
Powerhouse Energy Group Plc (AIM: PHE), a company pioneering
integrated technology that converts non-recyclable waste into low
carbon energy, is pleased to announce that it has entered into a
Framework Services Agreement ("Agreement") with Petrofac Facilities
Management Limited, a subsidiary of Petrofac (LSE: PFC)
("Petrofac"), a leading international service provider to the
energy industry. Under the agreement the Petrofac will provide
engineering design and supply chain development services on PHE's
pipeline of projects, including the Plastics to Hydrogen project at
Protos.
Peel NRE Ltd has also confirmed Petrofac as the preferred
delivery partner for the proposed construction of the facility at
Plot 10b, Protos Energy Park.
Further details on future projects undertaken by PHE will be
released as these develop.
Tony Gardner-Hillman, Chairman of PHE commented:
"We are delighted to announce this Agreement, in relation to
which PHE will be working with Petrofac to complete the design
engineering of PHE's projects. Petrofac is a renowned operator with
extensive expertise in the energy space and we look forward to a
long and successful relationship."
Keith Riley, Acting Chief Executive Officer of PHE,
commented:
"Signing the Framework Agreement with Petrofac is a very
important step for PHE in the intended rollout of its projects. The
Agreement allows the two companies to work closely together and
brings, to our projects, a significant depth of knowledge and
breadth of skills within Petrofac as well as its extensive
experience in the market, particularly with the supply chain. I
think the way we have set up this Agreement brings an exceptional
partner on board to take forward our projects; that PHE has not had
previously."
Jon Carpenter, Vice President, New Energy Services, Petrofac,
commented:
"We are thrilled to be selected as partner with PHE. We see
gasification of waste as a key enabler for a net zero future. We
look forward deploying our engineering, project delivery and
operational experience to drive their projects to success."
For more information, contact:
Powerhouse Energy Group plc powerhouse@tavistock.co.uk
Keith Riley
WH Ireland Limited (Nominated Adviser)
James Joyce
James Bavister
Enzo Aliaj +44 (0) 207 220 1666
Turner Pope Investments (TPI) Ltd
(Joint Broker)
Andrew Thacker
James Pope +44 (0) 203 657 0050
Tavistock (Financial PR) powerhouse@tavistock.co.uk
Simon Hudson
Nick Elwes
Heather Armstrong
About Petrofac
Petrofac is a leading international service provider to the
energy industry, with a diverse client portfolio including many of
the world's leading energy companies.
Petrofac designs, builds, manages and maintains oil, gas,
refining, petrochemicals and renewable energy infrastructure. Its
purpose is to enable clients to meet the world's evolving energy
needs. Its four values - driven, agile, respectful and open - are
at the heart of everything it does.
Petrofac's core markets are in the Middle East and North Africa
(MENA) region and the UK North Sea, where it has built a long and
successful track record of safe, reliable and innovative execution,
underpinned by a cost effective and local delivery model with a
strong focus on in-country value. The Company operates in several
other significant markets, including India, South East Asia and the
United States, and has 8,000 employees based across 31 offices
globally.
Petrofac is quoted on the London Stock Exchange (symbol: PFC).
For additional information, please refer to the Petrofac website at
www.petrofac.com.
About Powerhouse Energy Group plc
Powerhouse Energy has developed a process technology which can
utilise waste plastic, end-of-life-tyres, and other waste streams
to convert them efficiently and economically into syngas from which
valuable products such as chemical precursors, hydrogen,
electricity, heat and other industrial products may be derived.
Powerhouse Energy's process produces low levels of safe residues
and requires a small operating footprint, making it suitable for
deployment at enterprise and community level.
Powerhouse Energy is quoted on the London Stock Exchange's AIM
Market under the ticker: PHE and is incorporated in the United
Kingdom.
For more information see www.powerhouseenergy.co.uk
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