Technical Centre Update – Mechanical Completion
Powerhouse Energy Group plc
("Powerhouse", "PHE" or the "Company")
Technical Centre Update - Mechanical Completion
Powerhouse Energy Group plc (AIM: PHE), a company pioneering integrated technology that converts non-recyclable waste into low carbon energy together with a revenue generating engineering consulting division (Engsolve), announces "Mechanical Completion" of the Feedstock Testing Unit ("FTU"), on schedule and on budget, with all equipment now installed and operating on a "cold" commissioning basis.
The mechanical completion of the FTU is central to the development of PHE as a technology developer and provides a showcase for the Company's DMG Technology.
The "hot" commissioning / testing phase will now commence and run throughout January 2025. PHE will hold open days to showcase the FTU and the Company's technology in late February.
Paul Emmitt, Chief Executive Officer, commented:
"I am extremely pleased that we delivered this highly significant milestone for the Company. It is testament to both the PHE and Engsolve staff, their hard work and professionalism, that we have achieved this on schedule and on budget. The FTU has been something that I have championed since my involvement with PHE. Whilst we have had setbacks with our prior intended kiln manufacturer, we have overcome them to provide something tangible; an innovative facility that will allow us to showcase the DMG technology as well as our technical / engineering expertise as a Group as we look to deliver our vision for our shareholders."
"This year has been an eventful one. We have resolved our patent challenge, and had grant of UK, European and Japanese patents, we have signed an agreement with National Hydrogen of Australia and have now delivered mechanical completion of the FTU.
"Early 2025 will see us "hot" commission and test the FTU, whilst opening our doors to showcase our technology to investors as well clients and potential clients. We will also deliver the FEED for National Hydrogen, whilst further developing both the PHE and Engsolve offerings. There are also a number of old business opportunities to revisit as well as new ones to pursue for the team.
"I believe we enter 2025 in a stronger more positive position than that which we entered 2024. I would like to take this opportunity to thank our shareholders for their patience and support this year and look forward to an exciting 2025 for the Company."
The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
For more information, contact:
Powerhouse Energy Group Plc
Paul Emmitt, CEO +44 (0) 203 368 6399
Strand Hanson Limited (Nominated & Financial Adviser)
Ritchie Balmer / James Harris / Rob Patrick +44 (0) 207 409 3494
SP Angel Corporate Finance LLP (Broker)
Stuart Gledhill / Adam Cowl +44 (0) 20 3470 0470
Tavistock (Financial PR)
Simon Hudson / Nick Elwes / Saskia Sizen +44 (0) 207 920 3150
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.
PHE 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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