London (CNN Business) Britain produces about 5 million metric tons of plastic waste every year, but less than a third of that is recycled. Roughly half ends up in landfills.

UK company Powerhouse Energy wants to turn this plastic deluge into an opportunity by producing energy from non-recyclable plastics and other waste.

Powerhouse Energy has developed a process where it shreds the waste and then heats it to around 1,800 degrees Fahrenheit to produce syngas — a mixture of hydrogen, methane and carbon monoxide. Syngas can either be burned to produce electricity, or the hydrogen can be separated out to power fuel cells in vehicles.

Hydrogen fuel cell vehicles are powered by electric motors, but instead of carrying their energy in a battery pack, they create electricity by combining hydrogen with oxygen from the air in a fuel cell. Water vapor and heat are the only byproducts at the tailpipe.

Hydrogen cars have two big advantages over battery-powered electric vehicles: they can usually drive farther before needing to refuel, and refueling takes only a few minutes, not the hours it can take to charge an electric battery.

Read More