Powerhouse Energy Group PLC and Peel NRE extend collaboration period

() said the collaboration agreement with Peel NRE has been extended to 31 August 2022.

Peel NRE’s exclusivity option end date has also been extended to the same date, reflecting the confidence both parties have in completing the Protos hydrogen facility, which is scheduled to be fully operational during 2023.

Protos Plastics to Hydrogen No. 1 Limited, the special purpose vehicle (SPV) that was established by Peel NRE to develop the plant and to own rights to the first project at the Protos site, has been making progress on contracting arrangements necessary to reach construction start with support from the company and Peel NRE, Powerhouse said.

Significant works have been carried out on aspects of the site including the access road and with further enabling works ongoing. Peel NRE submitted a planning application for a complimentary Plastic Park at Protos in October this year that provides for further materials recovery and plastics sorting, together with recycling activities.

Peel NRE has also submitted a planning application for a second facility at Rothesay Dock on the north bank of the River Clyde, West Dunbartonshire.

Powerhouse also revealed in its project update that it has extended the availability period for the loan facility provided to the SPV until 28 February 2022.

READ Powerhouse Energy inks loan deal to advance Protos plant