Powerhouse Energy Group PLC (LON:PHE) has inked a non-binding heads of terms agreement with Hydrogen Utopia International (HUI) for a potential licensing deal in Poland.

The preliminary agreement envisages Powerhouse granting HUI an exclusive non-transferable licence for the application of its DMG technology, which produces hydrogen from the processing of waste plastics.

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HUI has paid a €100,000 deposit in connection with the agreement.

“We are delighted to have signed heads of terms with HUI,” said Tim Yeo, Powerhouse chairman.

“Powerhouse look forward to working with HUI on the potential use of our DMG technology being rolled out in Poland.”

HUI founder Aleksandra Binkowska, meanwhile, added: “At HUI we believe that the DMG System is the one that will help save the world from unrecyclable plastic and we are thrilled that Poland will lead the way in creating low cost hydrogen and we hope that other countries will take our lead.”

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