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POWERHOUSE ENERGY GROUP PLC - Loan Facility to Protos Project SPV
PR Newswire
Loan Facility to Protos Project SPV
Powerhouse Energy Group plc (AIM: PHE), the sustainable hydrogen company pioneering hydrogen production from waste plastic, is pleased to announce that the Company has agreed to enter into a loan agreement to provide up to £3.8 million to Protos Plastics to Hydrogen No. 1 Limited, the Peel NRE Special Purpose Vehicle (the SPV ). The loan is to progress the development of the Protos plant, the first proposed commercial application of Powerhouse s DMG waste plastic to hydrogen technology, which it is expected will be licensed to the Peel NRE SPV. Peel NRE is a group company of the Peel Group.