REG - Powerhouse Energy Gp - Technical Centre Update – Mechanical Completion

Powerhouse EnergyAnnouncement

16/12/2024 07:00

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RNS Number : 1261Q  Powerhouse Energy Group PLC  16 December 2024

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 (mailto: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 (http://www.phegroup.com)

 

 

 

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