16 December 2024
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
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.
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
-ends-