Powerhouse Energy Group (PHE), a UK-based clean energy company, has completed the acquisition of the entire shareholding in Protos Plastics to Hydrogen No 1 Ltd, the Special Purpose Vehicle (SPV) established for the development of the plastics to hydrogen project at the Protos site near Chester. The company bought the SPV from Peel NRE Ltd for a nominal payment of £1.
The acquisition of Protos Plastics to Hydrogen No 1 Ltd marks a significant milestone for PHE, which has developed the technology to convert non-recyclable waste into low-carbon energy. The company will now take full control of the project’s further development at Protos, working with the international service provider to the energy industry, Petrofac, to optimize costs and performance.
Keith Riley, acting chief executive officer of PHE, said that the company will seek commercial agreements for the offtakes, including electricity, heat, hydrogen, or other products, before raising finance for the construction. The variation in the IP Licence Agreement signed with Peel confines the beneficiary of the license to the SPV, and the Peel option to extend its exclusivity in the deployment of PHE’s technology will terminate.
The Protos plastics to hydrogen project is a significant breakthrough in addressing the plastic waste problem while producing low-carbon energy. The project is a collaboration between PHE, Peel NRE, and the University of Chester, supported by the Cheshire and Warrington Local Enterprise Partnership (LEP), and it aims to convert unrecyclable plastics into hydrogen, which can be used as fuel for vehicles or as energy for homes and businesses.
The project is expected to produce up to 11 tonnes of hydrogen per day, equivalent to fueling 2,500 lorries or 84,000 homes per year. By converting waste plastics into hydrogen, the project will help reduce greenhouse gas emissions and improve air quality.
PHE’s technology is a modular system that uses a patented process called Distributed Modular Gasification (DMG), which converts waste plastics, including those that cannot be recycled, into syngas, which can be used to produce electricity, hydrogen, or other chemicals. The DMG process is a more sustainable and cost-effective alternative to traditional waste management methods such as landfill and incineration.
The acquisition of Protos Plastics by Hydrogen No 1 Ltd is a significant step forward for PHE in expanding its clean energy portfolio and addressing the plastic waste problem. The project’s success will help pave the way for more sustainable waste management solutions and low-carbon energy production.