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LONDON - Powerhouse Energy Group Plc (AIM:PHE) has signed a Letter of Intent to become the exclusive supplier of high-purity hydrogen for B.S. Holdings Limited’s proposed fuel cell project in Ballymena, Northern Ireland, the company announced Thursday.
The agreement would make Powerhouse the sole provider of 99.999% pure hydrogen to BSH’s Penta H2P (Hydrogen to Power) project, which is described as a first-of-its-kind development underwritten by the Department for Energy Security and Net Zero (DESNZ).
Under the preliminary agreement, Powerhouse would supply hydrogen at a price lower than both green hydrogen and the current UK Contract for Difference strike price, though specific quantities and duration terms remain subject to agreement with several regulatory bodies including DESNZ, Ecotricity, SONI and NIE Networks.
The collaboration extends beyond the initial project, with Powerhouse agreeing to assist BSH with other combined heat and power projects requiring hydrogen within the Mid and East Antrim Council region. BSH will reciprocate by helping Powerhouse source additional commercial clients and providing priority access to future projects in Northern Ireland and across the UK.
"One of the key issues holding back the increased utilization of hydrogen has been gaining appropriate offtake agreements. This LoI has the potential to deliver that for our Ballymena project," said Paul Emmitt, Chief Executive Officer of Powerhouse Energy.
Brian Hood, CEO of BSH, emphasized the importance of reliable fuel supply, stating, "Without the fuel, the projects will not float."
Powerhouse Energy develops technology that converts waste plastics and other waste streams into syngas for producing hydrogen and other products. The announcement was made in a company press release.
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