Powerhouse Energy Group Signs Exclusive Hydrogen Supply Agreement with B.S. Holdings Limited

Strategic Insights -

Powerhouse Energy Group PLC (AIM:PHE) has signed a Letter of Intent (LoI) with B.S. Holdings Limited (BSH) to supply 99.999% purity hydrogen for the proposed Fuel Cell (Penta) H2P project in Ballymena, Northern Ireland. This agreement is a key step for Powerhouse Energy, which converts non-recyclable waste into low-carbon energy. The project is backed by the Department for the Economy, Northern Ireland (DESNZ) and involves several partners, including Ecotricity, SONI, and NIE Networks. Powerhouse Energy's CEO, Paul Emmitt, highlighted the significance of this agreement, stating that it will address the issue of gaining appropriate offtake agreements for hydrogen utilization. The LoI also provides for Powerhouse Energy to supply hydrogen at a price lower than that of both Green Hydrogen and the current UK CFD strike price.

Key Takeaways:

  • Powerhouse Energy Group PLC (AIM:PHE) has signed a Letter of Intent (LoI) with B.S. Holdings Limited (BSH) for the supply of 99.999% purity hydrogen for the proposed Penta H2P project in Ballymena, Northern Ireland.
  • The project is backed by the Department for the Economy, Northern Ireland (DESNZ) and involves several partners, including Ecotricity, SONI, and NIE Networks.
  • Powerhouse Energy's technology converts non-recyclable waste into low-carbon energy and has the potential to deliver a key issue holding back the increased utilization of hydrogen.
  • The LoI envisages Powerhouse Energy supplying hydrogen at a price lower than that of both Green Hydrogen and the current UK CFD strike price.
  • The agreement also provides for Powerhouse Energy to support BSH's Combined Heat and Power (CHP) projects requiring hydrogen within the Mid and East Antrim Council region.
  • BSH will assist Powerhouse Energy in securing further commercial clients and provide priority access to future projects in Northern Ireland and the wider UK.

Statistics:

  • 99.999% purity hydrogen will be supplied to the Penta H2P project in Ballymena, Northern Ireland.
  • Powerhouse Energy's technology converts non-recyclable waste into low-carbon energy.
  • The LoI ensures the supply of hydrogen at a price lower than that of both Green Hydrogen and the current UK CFD strike price.

Sources:

  • Powerhouse Energy Group PLC (AIM:PHE)
  • B.S. Holdings Limited (BSH)
  • Department for the Economy, Northern Ireland (DESNZ)
  • Ecotricity
  • SONI
  • NIE Networks