22 May 2024
Powerhouse Energy Group
Plc
(the "Company" or "PHE")
Resolution of European Patent
Challenge
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 the claim originally issued on 6 October
2023 by GetGo Recycling Limited (now called Onunda Ltd) ("Onunda")
against its European patent and patent applications has been
resolved.
An agreement has been reached to
resolve the issues and the Company looks
forward to progressing its other patent applications within Europe
and the rest of the world.
The agreement ensures that no
additional challenge to Powerhouse's patents worldwide will be
raised by Onunda or any of its group companies, now or in the
future.
Paul Emmitt, CEO of PHE commented:
"This is a major step forward for Powerhouse and I am pleased that this matter has been resolved. The
whole process has been extremely time consuming and a significant
diversion for the team over the last seven months. The closure of
this matter now allows us to return to our main goals of
progressing our R&D activities, the FTU and our project
pipeline which we believe will provide value to our
shareholders."
This announcement contains inside information for the purposes
of the UK version of the market abuse regulation (EU No. 596/2014)
as it forms part of United Kingdom domestic law by virtue of the
European Union (Withdrawal) Act 2018, as amended.
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For more
information, contact:
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Powerhouse
Energy Group plc
Paul Emmitt
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+44 (0) 203 368 6399
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Strand Hanson
Limited (Nominated & Financial Adviser)
Ritchie Balmer
James Harris
Rob Patrick
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+44 (0) 207 409 3494
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Turner Pope
Investments (TPI) Ltd (Broker)
Andrew Thacker
James Pope
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+44 (0) 203 657 0050
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Tavistock
(Financial PR)
Simon Hudson
Nick Elwes
Saskia Sizen
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powerhouse@tavistock.co.uk
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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 Group also
incorporates Engsolve Ltd, who offer Engineering Services across
all sectors with speciality services in the development of new
technologies and clean energy.
Powerhouse Energy is quoted on the
London Stock Exchange's AIM Market under the ticker: PHE and is
incorporated in England and Wales.
For more information see www.phegroup.com