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Powerhouse Energy Group plc (AIM: PHE), the UK technology company commercialising hydrogen production from plastic, is pleased to announce that that it has appointed Russell Ward and Hugh McAlister as Non-Executive Directors with immediate effect.
Russell Ward has many years’ experience at board level across a range of sectors including power and energy, oil and gas, materials handling and processing, infrastructure and rail, and electronics and military systems and has a strong record of performance turnaround and business expansion. His skills include operational leadership and strategic development and he has strong relationships with private equity and other investors.
Russell was the chief executive office of Motherwell Bridge Limited, a global engineering group where he led the turnaround of the business, selling it to Cape Plc in 2014 where he then became Managing Director, forming and leading Cape’s global specialist service group for 3 years. He then undertook as CEO the turnaround and sale of Aspin Group in 2018 for its private equity owner. He was the chairman at Heliex Power Ltd, a company creating cleantech energy from waste heat and steam, until 2021. His current roles include chairman of Nucore Group Limited, a provider of HVAC and safety critical integrated solutions, chairman of Shorterm Group Ltd which is a specialist technical engineering recruitment firm, and chairman of Advanced Innergy Group Ltd, a global leader in fire and insulation products.
On joining the Board of Powerhouse Russell Ward said: “I’m delighted to be joining Powerhouse Energy and hope to bring my expertise to the board as the Company develops its pioneering technology. I look forward to working with the team to help deliver the UK’s first facility at Protos and see its technology rolled out internationally.”
With over 40 years’ stockbroking experience in the City, Hugh McAlister has been the executive chairman of Novum Securities Limited since 2018, having been its Chief Executive Officer for the previous nine years. Prior to this, Hugh was a founding partner and head of trading a Kaupthing Singer & Friedlander Capital Markets and Head of Pan European Equities at Dresdner Kleinwort Benson.
On joining the Board of Powerhouse Hugh McAlister said: “I am pleased to have joined Powerhouse at an exciting time for the company as its technology aims to help the world transition to clean energy, whilst providing a solution to end-of-life plastic. I look forward to working with the board and management team to deliver the UK’s first facility at Protos and see Powerhouse technology rolled out globally”.
James Greenstreet said: “We welcome the appointment of Russell whose experience within the power and energy sectors will help support Powerhouse in its ambition to become a global leader in technology solutions that transform plastics and waste into clean energy. We also welcome Hugh, whose appointment strengthens the Powerhouse board in what is an exciting time for the Company. We are delighted Hugh and Russell will be supporting the board and management team as we aim for the global rollout of this first of a kind technology and see the delivery of the UK’s first facility at Protos.”
-ENDS-
For interviews and more information please contact:
Powerhouse Energy
Becca Smith / 00447766522305 / becca@sistersmithpr.com
Suzi Smith / 00447766522306 / suzi@sistersmithpr.com
Notes to editors
ABOUT POWERHOUSE ENERGY GROUP
Powerhouse Energy, the sustainable hydrogen company, has a vision to be a global leader in technology solutions that transform plastics and waste into clean energy.
Powerhouse has developed a technology that provides a solution to plastic and produces a clean energy that can help improve air quality by replacing diesel with hydrogen as a transport fuel.
Powerhouse Energy’s mission is to provide flexible, innovative, solutions to global pollution by recycling plastic and waste into valuable clean energy products.
Powerhouse technology aims to be used at a local level providing a closed loop solution within the community for plastic waste, cleaning up our oceans and helping to accelerate the clean energy transition to reach the target of net zero emissions by 2030.
The Distributed Modular Generation (DMG®) technology can utilise all plastic, end-of-life-tyres, and other waste streams to efficiently and economically convert them into syngas from which valuable products such as chemical precursors, hydrogen, electricity and other industrial products may be derived.
Powerhouse’s technology is one of the world’s first proven, distributed, modular, hydrogen from waste (HfW) process.
The Powerhouse (DMG®) process can generate up to 2 tonnes of road-fuel quality hydrogen and more than 58MWh of exportable electricity per day.
Powerhouse’s process produces low levels of safe residues and requires a small operating footprint, making it suitable for deployment at enterprise and community level. As announced on 11th February 2020 under its Supplemental Agreement with Peel Environmental, Powerhouse will receive an annual license fee of GBP500,000 in respect of each project which is commissioned.
Powerhouse aims to license developers to deliver facilities that improve our environment for future generations.
Powerhouse 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
Follow developments @PowerHouseEG.