"We are delighted to have formalised HUI’s exclusivity arrangements for DMG® with Powerhouse for Poland, Greece and Hungary. HUI will use its local networks and relationships in the countries licensed to it to help to look to secure project approvals, finance and technical expertise to facilitate the deployment of DMG® technology. This builds on our announcement of 12 November 2020 and is part of our long-term vision for DMG® technology to be deployed internationally, helping the world transition to clean energy whilst providing a solution to end-of-life plastic”. “Powerhouse is pleased to sign this binding exclusivity agreement with HUI which is a champion of our technology, seeking to drive its rollout across Poland, Greece and Hungary. James Greenstreet, Non-Executive Chairman of Powerhouse Energy Group, said: Consequently, the Company’s worldwide rights to ongoing licensing fees for the DMG® technology are unaffected by the PGH Exclusivity Agreement. In addition, Powerhouse will continue to receive a licence fee for any DMG® plant which becomes operational in any location in the world. A royalty fee will be agreed as part of the expected licence agreement. Under the PGH Exclusivity Agreement, HUI will pay Powerhouse a further €325,000 by the end of 2021, when the formal intellectual property licence for the DMG® technology is anticipated to have been granted to HUI, with a further €300,000 to be paid 12 months later. The PGH Exclusivity Agreement follows the agreement of non-legally binding heads of terms with HUI for Poland announced on 12 November 2020 and Greece and Hungary announced on and the payment by HUI to Powerhouse of deposits totalling €125,000. HUI’s corporate mission is to create a project pipeline for Powerhouse’s DMG® technology in these regions through seeking funding from and partnering with states, regional authorities and the private sector in targeted regions to facilitate the deployment of DMG® technology. Powerhouse Energy Group plc (AIM: PHE), the UK technology company commercialising hydrogen production from waste plastic, is pleased to announce that it is has entered into a binding agreement (the “PGH Exclusivity Agreement”) with Hydrogen Utopia International PLC (“HUI”) under which HUI has been granted an exclusive non-transferable licence for the application of Powerhouse’s DMG® technology in Poland, Greece and Hungary. Powerhouse signs binding exclusivity agreement to deploy technology in Poland, Greece and Hungary
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