Operational Update
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Powerhouse Energy Group plc
("Powerhouse" or the "Company")
Operational Update
Powerhouse wins £260k battery developer contract
Powerhouse Energy Group plc (AIM: PHE), a company pioneering integrated technology that converts non-recyclable waste into low carbon energy, alongside a revenue-generating engineering consulting division, Engsolve, is pleased to provide the following operational update.
Battery developer contract
The Powerhouse team has recently commenced an exciting new project with a Welsh battery developer, providing thermal processing expertise to modify test kilns and support the client in developing novel anode material, representing an approximate contract value of £260,000 to the Company, which is expected to be received over the next eight months.
Ballymena project
Progress on the Company's Ballymena project continues to advance well across multiple workstreams, with a water and sewage application submitted to NI Water, a response to noise study queries already filed, and a response to air quality queries due for submission imminently. In parallel, waste has been received from the Company's preferred Northern Ireland supplier at the Bridgend site for testing in the FTU, the underground services survey has been completed, and a local specialist consultant has been engaged in preparation for the permit application, which will follow upon conclusion of the planning process.
Business development
On the wider business development front, the Company continues to make positive progress through its joint venture with Green Gecko, with active engagement in both the Middle East and Europe, including collaboration with a Bahrain-based entity to develop waste-to-energy projects aligned with their upstream and downstream operations. Powerhouse has also introduced the Green Gecko team to National Waste to Energy (NW2E), its Australian project provider, with discussions ongoing around initial funding to reach Final Investment Decision, a workstream running in parallel with the UK lender due diligence process. NW2E has also further strengthened its position by applying for funding in the latest round of Western Australia State Government energy project grants.
The marketing agreement signed last month with HUI is already bearing fruit, opening up a number of opportunities in Central Europe currently being screened for suitability. Additionally, the Company has signed a no-win, no-fee sales and marketing agreement with a firm focused in the Caribbean islands region, where reliance on diesel for power generation makes waste-to-energy an especially compelling proposition. Discussions are progressing and feedstock testing is already underway.
Across the broader pipeline, Powerhouse currently has approximately ten live enquiries, defined as opportunities the Company believes have potential to become revenue-generating projects. Each follows a structured process encompassing screening, initial discussions, NDA execution, data sharing and analysis, site visits, specific waste testing, and techno-economic evaluation, before potentially progressing to a Feasibility Study or FEED engagement. The Company remains patient and disciplined in this process, recognising that it naturally runs at the pace of the client. Underpinning this pipeline, Powerhouse continues to execute its business-to-business marketing strategy, with recent trade press activity delivering a steady flow of early-stage enquiries to the business.
Paul Emmitt, CEO of Powerhouse, commented:
"We are delighted with the progress that has continued to be seen across a number of initiatives, not only at our flagship Ballymena project, but also at some of the smaller, less high-profile projects that the Company has been undertaking, including winning PHE's first (non-Engsolve) revenue earning project. These projects, whilst in most cases still being at an early stage, further endorse our technology offering whilst also having the potential to provide us with meaningful revenues in the future.
This approach has also continued to deliver several live enquiries that we will continue to evaluate and believe have the potential to progress from opportunities to real projects for the Company in due course."
-ENDS-
For more information, contact:
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Powerhouse Energy Group plc |
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Paul Emmitt, CEO |
Via Tavistock below |
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Ben Brier, CFO |
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Strand Hanson Limited (Nominated & Financial Adviser and Joint Broker) |
+44 (0) 207 409 3494 |
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Ritchie Balmer / Rob Patrick |
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Longspur Capital Limited (Financial Adviser & Joint Broker) |
+44 (0) 203 940 6608 |
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Adam Robertson |
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Tavistock (Financial PR) |
+44 (0) 207 920 3150 |
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Simon Hudson / Nick Elwes / Saskia Sizen |
powerhouse@tavistock.co.uk |
About Powerhouse Energy Group plc
Powerhouse Energy has developed a process technology which can utilise waste plastic, end-of-life-tyres, and other waste streams to convert them efficiently and economically into syngas from which valuable products such as chemical precursors, hydrogen, electricity, heat and other industrial products may be derived. PHE's process produces low levels of safe residues and requires a small operating footprint, making it suitable for deployment at enterprise and community level.
Powerhouse also incorporates Engsolve Ltd, which is a revenue generating business offering Engineering Services across all sectors, with speciality services in the development of new technologies and clean energy.
For more information see www.phegroup.com
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