Subsidiary Contract

18 March 2024

Powerhouse Energy Group plc

("Powerhouse", "PHE" or the "Company")

Powerhouse Energy Group subsidiary appointed to build pioneering production unit to manufacture carbon nanotubes from waste plastic

Powerhouse Energy Group plc (AIM: PHE), a company pioneering integrated technology that converts non-recyclable waste into low carbon energy, is pleased to announce Engsolve's, a 100% wholly owned subsidiary of Powerhouse Energy, appointment for the building and installation of its first production train for TrimTabs, a South Wales based process technology company pioneering the low-cost, sustainable production of carbon nanotubes.

Engsolve were successfully selected by Trimtabs on its ability to develop pilot scale operations into large industrial scale processes.

The new production unit will support the commercialisation of TrimTabs production system, allowing for continuous production of low-cost, highly differentiated carbon nanotubes close to commercial scale. Engsolve's involvement in the development of this cutting-edge technology will aid TrimTabs in their pursuit for the production of sustainable carbon nanotubes.

The MVP unit consumes just 15 kW of electrical energy while producing enough nanotubes for hundreds of batteries. The versatility of carbon nanotubes extends across multiple industries including batteries, supercapacitors, fuel cells, concrete, composites, electricity transmission, and superconductors. In particular, the battery industry presents a significant opportunity, with carbon nanotubes offering superior conductivity and lightweight properties. TrimTabs' process ensures compliance with the most rigorous global sustainability standards for battery materials.

The installation of this unit will elevate the technology readiness level (TRL) from 6 to 9, marking a substantial advancement in commercial viability. This paves the way for the construction and deployment of the First Commercial Model (FCM)-modular micro-factory units placed within shipping containers. Each micro-factory can produce up to 60 tonnes of CNTs annually for global distribution.

Professor Alvin Orbaek White, Chief Executive Officer of TrimTabs, commented:

"The appointment of Engsolve to build this pioneering production system is a major strategic advancement in our company's technological capabilities which will serve as a catalyst for expanding our product development capabilities and customer outreach. Utilising this equipment, our team can accelerate the design iteration process, promptly validate new product R&D, and swiftly collect customer feedback.

"Central to our innovation strategy, the MVP system stands uniquely designed to enhance bespoke carbon nanotubes for mass production. This approach aims for commercial models ready for deployment in modular micro-factory units."

Paul Emmitt, Chief Executive Officer, commented:

"We are pleased to have been appointed the contract for the development of the Trimtabs MVP, reaffirming Engsolve's ability to deliver solutions for new and exciting technologies. At Powerhouse, we are pleased that our subsidiary is working with Trimtabs to target the high-tech market for carbon nanotubes."

About Powerhouse Energy Group plc

Powerhouse Energy has developed a process technology which can utilise waste plastic, end-of-life-tyres, and other waste streams to convert them efficiently and economically into syngas from which valuable products such as chemical precursors, hydrogen, electricity, heat and other industrial products may be derived.

Powerhouse Energy's process produces low levels of safe residues and requires a small operating footprint, making it suitable for deployment at enterprise and community level.

Powerhouse Energy Group also incorporates Engsolve Ltd, who offer Engineering Services across all sectors with speciality services in the development of new technologies and clean energy.

Powerhouse Energy is quoted on the London Stock Exchange's AIM Market under the ticker: PHE and is incorporated in England and Wales.

For more information see www.phegroup.com

About Engsolve

Engsolve is a multi-disciplined engineering consultancy, that helps answers the industry's most arduous of problems. Delivering engineering design and support, cost estimating and control, project management or safety risk assessments. We are dedicated to delivering engineering solutions that cater to our clients, whether they are transitioning from high carbon and waste processes or are pioneers of emerging technologies offering solutions to today's environmental challenges.

Engsolve's involvement in renewable energy developments and cutting-edge new technologies aids its clients in their pursuit of a circular economy future. This commitment leads to brighter and more sustainable outcomes for the client's business.

About TrimTabs

TrimTabs is a Greentech and Deeptech company based in Bridgend, Wales. It uses a patented process to produce high-quality bespoke carbon nanotubes from solvents and plastic waste. This innovative solution reduces the cost per gram of nanotube materials while ensuring high-quality production at scale to meet growing market demand.

The company was founded in 2019 by Professor Alvin Orbaek White whilst an Associate Professor at Swansea University, where he worked with Professor Andrew Barron, the Sêr Cymru Chair of Low Carbon Energy and Environment at Swansea University. Both Professor Obaek White and Professor Barron are world-leading experts in the field of carbon nanotubes. Professor Orbaek White is CEO and Professor Barron is a non-executive director of TrimTabs.

Carbon nanotubes have multiple benefits over many alternative materials:

·    Highly conductive - e.g. 1000 x greater current carrying capacity than copper

·    Lightweight - e.g. six times lighter than copper

·    One of the strongest materials in the world

·    Very high heat transfer coefficient, 10 to 100 times better than metals

·    Long lifetime as it does not oxidise

·    Non- flammable

·    It is a carbon sink.

Feedstocks for the TrimTabs process comprise over 200 types of hydrocarbon, including waste plastics, solvents, reagents, and cleaning fluids.

Multiple applications include the following markets:

·    Batteries

·    Fuel cells

·    Concrete

·    EMI shielding

·    Composites

·    Steel

·    Semiconductors, superconductors and electronics

·    Power transmission

-ends-