Powerhouse Energy technology to clean up plastic across Europe in £1bn deal for UK firm | City & Business | Finance

In a deal signed at COP26 last night, Linde agreed to work with London-listed Powerhouse Energy and its EU partner Hydrogen Utopia (HUI) to use its technology which converts plastic into hydrogen. Linde will provide exclusive services processing the hydrogen produced in HUI’s plants across Europe for the next five years. A number of plants are already planned with the first on course to open in the Polish town of Konin towards the end of next year with Bulgaria and Greece to follow. Sites are also planned in the UK with the first to open in the North West in two years with one in Scotland to follow. In total the plans are expected to create at least 500 jobs across 50 plants.

Powerhouse Energy Group chair James Greenstreet said he was “delighted” at the deal adding: “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.”

Harald Ranke, Managing Director at Selas-Linde said, “Producing hydrogen from plastic waste will help to solve an environmental problem and at the same time foster decentralised hydrogen utilisation.”

The technology developed by Powerhouse Energy works by heating plastic to very high temperatures to create synthetic gas, or syngas, which can then be further processed to create electricity and hydrogen.

The ability to reuse plastic has become particularly important for many European countries following an EU ban on non-recyclable plastic waste being shipped to developing countries in January this year.

Linde has previously backed UK renewable energy companies with a joint venture with ITM Power announced back in 2019.