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PowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering hydrogen production from waste plastic and used tyres and developer of the DMG® System is pleased to announce that it has received a formal invitation from Toyota Tsusho Corporation of Japan to engage in advanced commercial discussions regarding the PowerHouse DMG® technology.
This invitation has been made subsequent to an extensive review of the DMG® technology by Toyota Tsusho’s Chemical Business Development Division and subsequent to PHE having achieved its recent “Statement of Feasibility” by DNV-GL, a leading provider of technical assurance world-wide.
Following Toyota Tsusho’s review of the PHE Basic Engineering Package and the DNV-GL technical qualification process, PHE now welcome the news that Toyota Tusho have positively reviewed the DMG®technology and consider that DMG® and its application within Japan and Asia offers significant potential.
Mr. Takashi Torigoe, General Manager, Chemical Business Development stated:
“We have been reviewing Power House Energy’s DMG technology over the last few months and take great interest in it. We are excited and looking forward to a potential partnership in Japan and possibly worldwide.”
Discussions with Toyota Tsusho have been led by our UK Project Development Team, Waste2Tricity Ltd. with support from our technical team. It is expected that the next level of work for Toyota Tsusho by PHE will include further technical and commercial application engineering for the Toyota Tusho/W2T Project teams to secure regional early adopters to enhance the project pipeline in a variety of geographies.
Keith Allaun, CEO of PowerHouse commented:
“Whilst there can be no certainty these negotiations will result in a formal agreement, I’m extremely enthusiastic about this opportunity to explore how our DMG® technology can be exploited in Japan – an ideal market for our Systems.
“Toyota is taking a leading role globally in the use of hydrogen in transport and appears to recognise the value proposition that our distributed system has with it’s small foot-print, its efficiency, and its ability to deliver road-quality hydrogen, at a competitive price, as and when its needed.”
Toyota Tsusho is one of the 17 members of the Toyota Group. On its website, Toyota Tsusho is described, “As the Toyota Group’s sole general trading company, we gather information and promote the development of new business from a global perspective. As automotive professionals with unique capabilities and know-how, we strive to lead the Toyota Group in the challenge to develop the evolution of next-generation mobility to contribute to the development of both society and the Toyota Group.”
For more information, contact:
PowerHouse Energy Group plc Tel: +44 (0) 203 368 6399
Keith Allaun, Chief Executive Officer
WH Ireland Limited (Nominated Adviser) Tel: +44 (0) 207 220 1666
James Joyce / Chris Viggor
Turner Pope Investments Ltd (Joint Broker) Tel: +44 (0) 203 621 4120
Ben Turner / James Pope
Ikon Associates(Media enquiries) Tel: +44 (0) 1483 271291
Adrian Shaw Mob: +44 (0) 7979 900733
About PowerHouse Energy
PowerHouse Energy has developed a proprietary process technology – DMG® – which can utilise waste plastic, end-of-life-tyres, and other waste streams to efficiently and economically convert them into EcoSynthesis gas from which valuable products such as chemical precursors, hydrogen, electricity and other industrial products may be derived. The PowerHouse technology is one of the world’s first proven, modular, hydrogen from waste (HfW) processes.
The PowerHouse DMG® process can generate in excess of 1 tonne of road-fuel quality H2, and more than 28MW/h of exportable electricity per day.
The PowerHouse process produces low levels of safe residues and requires a small operating footprint, making it suitable for deployment at enterprise and community level.
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.net
About Waste2tricity Ltd
Established in 2008, Waste2Tricity is a structured solutions provider to the energy-from-waste (EfW) sector, an industry supplying increasing amounts of electricity using feedstock diverted from landfill. Waste2Tricity works with clients and partners to develop, fund and support EfW deployment projects that use proven technology, are profitable and progressive. In the case of PHE these projects will use high temperature gasification and internal combustion engines to efficiently convert waste plastic to energy and in the future can produce hydrogen to support the growth of the hydrogen economy.
FT – Toyota Orocobre investment underscores strategic significance of Cadence Minerals #KDNC San Luis development.
January 16th 2018
By Alice Woodhouse FT.com
Link on the FT logo to read the article on the FT website
Toyota Group’s trading arm will take a stake in Australian lithium miner Orocobre for almost A$300m as car manufacturers seek to secure supplies of the critical ingredient for batteries to meet growing electric vehicle demand.
Toyota Tsusho will take a 15 per cent stake in lithium miner Orocobre for A$282m ($224m) to more than double lithium carbonate production capacity at Orocobre’s Argentinian mine Olaroz to 42,500 tonnes per year from 17,500 previously.
Toyota Tsusho said the investment will provide a “long term, stable supply of lithium in response to growing global demand.”
The move by Toyota follows similar investments by Chinese electric carmaker BYD, which formed a joint venture with a Chinese pot ash producer to produce lithium carbonate and China’s Great Wall Motor, which last year took a 3.5 per cent stake in Australia’s Pilbara Minerals to secure a supply of the metal.
Toyota Tsusho and Orocobre are also finalising plans to develop a 10,000 tonne-pear year lithium hydroxide plant in Fukushima, Japan. A decision will be made on the plant in mid-2018, Orocobre said in its statement.
Orocobre shares climbed almost 60 per cent in 2017. Its shares were suspended on Tuesday.
Orocobre is one of several lithium producers stepping up investment in Argentina amid expectations that President Mauricio Macri’s business-friendly agenda will transform Argentina into South America’s top producer of the mineral, ousting neighbouring Chile in five years’ time. A recent Reuters article covers this in more detail here
Toyota’s Orocobre investment further serves to underscore the strategic significance of the recent move by Cadence Minerals #KDNC to acquire up to 100% of six prospective hard rock lithium assets at the San Luis Province, Central Argentina. Full San Luis announcement here