Shares in Powerhouse Energy Group PLC (LON:PHE) have enjoyed a great start to 2017. But even after a 70% rise in the share price so far this year the company is still valued at a micro £8mln.
Does that fully value the potential of the company’s green technology? Well, only time will tell.
Its G3-UHt system transforms rubbish into electricity with no toxic by-products and effectively zero greenhouse gases.
The latest update from the waste-to-energy specialist revealed that it has secured up to £500,000 in funding from a “large corporate partner”.
That cash will be used to fund various permit applications for its G3-UHt demonstration unit as well as the first five complete systems.
What is the G3?
PHE’s G3-UHt system transforms rubbish into electricity with no toxic by-products and effectively zero greenhouse gases.
At the heart of the gasification unit is a reactor that works oxygen-free at ultra-high temperatures to atomise virtually all household or industrial waste.
What’s created is a synthesis gas, or syngas for short, that can be used to generate electricity.
With a little more processing hydrogen can be produced which could then be used to replenish fuel cells. The by-product of all this is an inert substance that can be moulded into bricks or used as ground covering.
Don’t confuse this sophisticated recycling system with incineration, which works at far lower temperatures and leaves behind all sorts of toxins - not to mention significant amounts of ash.
The G3 system’s de-molecularisation capabilities allow for complete detoxification of waste-streams.
Lots of potential applications
There are all manner of applications for a technology that is able to recover up to 90% of the energy value of a material put through the reactor.
Medical waste is one area where the G3 could make a difference, while there is a burgeoning market in carpets too, apparently.
Around 405,000 tonnes of floor covering is discarded each year in the UK alone with only around a third of it recycled (it is often burned in brick kilns). The remainder ends up in landfill sites.
“Automobile recyclers offer another tremendous opportunity,” explains chief executive Keith Allaun.
“There are over 1,300 auto recyclers in the UK and every one sends at least 5% of its residue (mainly synthetic rubber, dashboards, seats, and other non-recyclables) to the tip. That’s tens-of-thousands of tonnes per annum.”
In the UK and producing gas
The AIM-listed group shipped its demo G3-UHt unit over from Australia to a site in Chester back in March.
Within a matter of weeks, PowerHouse had completed the first phase of the re-commissioning of the system and had successfully produced the first gas from the unit.
While the G3 is up-and-running operationally, the company said back then that it expects to make a few cosmetic improvements in the near-term.