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Powerhouse appoint new CEO
Powerhouse Energy Group plc (AIM: PHE), the UK technology company commercialising hydrogen production from plastic, is delighted to announce that it has appointed Paul Drennan-Durose as its Chief Executive Officer.
Paul has many years of Board level experience in complex new technology, distribution, engineering services, and manufacturing companies. He has led businesses on an international scale and has extensive experience in a range of sectors, including cleantech energy, oil & gas, waste to energy, process manufacturing, marine, and the auto industry. Paul brings significant and diverse commercial, strategic, tactical and transformation experience to Powerhouse.
Paul will join Powerhouse on 14 February 2022, having spent over three years as the investor appointed Chief Executive Officer of Heliex Power Limited, a private equity backed cleantech energy business. Whilst there, he led the transformation of the start-up new technology company, leading the roll-out of its technical and commercial market recovery.
On being appointed Chief Executive Officer of Powerhouse, Paul Drennan-Durose said: “I am excited to be joining Powerhouse as we aim to become a global leader in technology solutions that will help the world transition to clean energy, as well as help to remove plastic from environments worldwide. It is set to be an exciting and busy year for Powerhouse which I look forward to leading.”
James Greenstreet, Chairman of Powerhouse, said: “Paul is a valuable addition to the Powerhouse Board and will bring his expertise in driving strategy, investment and delivery. Growing Powerhouse internationally with the roll-out of our clean energy technology is a key priority for Paul and will help ensure that Powerhouse will be part of the solution to tackling the world’s waste problem.”
-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.