Signing of Agreement to Lease Site in Ballymena

Powerhouse Energy Group plc (AIM: PHE), a company pioneering integrated technology that converts non-recyclable waste into low carbon energy with a revenue generating engineering consulting division ("Engsolve"), is pleased to announce that it has signed an agreement to lease (the "Lease Agreement") for a 1.98 acre serviced site at Silverwood Business Park, Ballymena, Northern Ireland.

Terms of the Lease Agreement:

• Site owner: Silverwood Business Park Ltd.
• Site address: Silverwood Business Park, Ballymena, County Antrim.
• Annual rent: An initial rent-free period of up to 12 months and, thereafter, subject to five yearly reviews.
• Length of agreement: Lease is for a 25-year term.
• Break clause: A tenant break clause on the fifth anniversary of term commencement.

Powerhouse plans to build, own and operate a 40 tonnes per day (TPD) waste to hydrogen facility at the site. The facility is intended take 40 TPD of waste destined for landfill and convert it into 99.999% pure hydrogen for a variety of uses, including transport. Discussions are already taking place on feedstock and offtake agreements.

The Company will shortly submit the required planning application to the Mid and East Antrim Borough Council, and a further announcement will be made once this has been submitted. Approval of the planning application is a condition to the Lease Agreement becoming effective.

Commenting on the Lease Agreement, Paul Emmitt, Powerhouse CEO, said:

"This is a major step forward for the Company. Ballymena is set to become the Hydrogen Hub of Northern Ireland, with the organisations including Wrightbus, Translink and the Mid and East Antrim Borough Council all focused on developing the hydrogen economy in Northern Ireland."