PowerHouse Energy Group PLC said it is on the cusp of redefining the waste-to-energy industry with its breakthrough Distributed Modular Gasification (DMG) technology.
Its ultra-high temperature system transforms rubbish into electricity with no toxic by-products and effectively zero greenhouse gases.
In April its G3-UHt reactor arrived at the Thornton Science Park, in Chester, from Australia.
The Cheshire research and innovation hub will be the new base for technical operations and process demonstration as PowerHouse enters the commercial phase.
The company in its annual results statement said it believes it “hold one of the keys to unlocking the hydrogen economy”.
“[We have] been making tremendous strides as a newly minted, commercial, entity. The G3-UHt technology is, in our opinion, unparalleled in its capability, its efficiency, its economy, and its environmental contribution,” chairman Keith Allaun told investors.
“We now have the technology, we are building the team necessary to achieve our commercial endeavours and we are eager to begin growing our office at Thornton, and demonstrating our technology.”
The annual results reveal a year of progress, which included the development of the G3-UHt reactor and its shipment to the UK.
Financially, the biggest step forward was the repayment of a loan note from the proceeds of a share placing.
Chairman Allaun said this now leaves PowerHouse “fully focused on moving forward aggressively with its commercialisation phase”.
As might be expected from a business at this formative stage in its development, PowerHouse was loss-making – to the tune of £1.3mln for the year to December 2016.