Powerhouse Energy (LON: PHE) shares have surged Friday after its development partner, Hydrogen Utopia International (HUI), signed a framework agreement with Linde Engineering.
The deal gives Linde Engineering a 5-year exclusivity to supply HUI in its development of Powerhouse DMG technology, primarily in Poland, Hungary, and Greece — where HUI holds exclusivity for promoting and marketing DMG technology and possibly on the broader European Continent on a project by project basis.
In October, Powerhouse announced it had entered into a collaboration agreement with HU2021 International UK Limited, a subsidiary of HUI, to market the deployment of DMG technology in territories outside the UK.
James Greenstreet, Non-Executive Chairman of Powerhouse Energy Group, said: “We look forward to HUI and Linde’s collaboration which would use Powerhouse technology to help accelerate Poland’s clean energy transition. HUI is championing our technology across Europe and potentially the world – helping provide a global solution to plastic waste.”
The news has seen Powerhouse Energy's share price surge over 34% to 5.9p.
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