Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

PowerHouse Energy Group PLC's technology reflecting the zeitgeist

The continued interest in its technology in part reflects the urgency of finding a solution for the worldwide problem of waste plastic pollution
Green energy
Growing media attention, such as the Sky Ocean Rescue campaign and the BBC’s Blue Planet II, has heightened interest in the idea of converting waste to energy

Waste-to-energy company PowerHouse Energy Group PLC (LON:PHE) said its Distributed Modular Gasification (DMG) system continues to generate significant interest from potential partners.

In its full-year business update, the AIM-listed company said the continued interest partly reflects the urgency of finding a solution for the worldwide problem of waste plastic pollution. Growing media attention, such as the Sky Ocean Rescue campaign and the BBC’s Blue Planet II, has heightened interest in this issue, the company said.

The company also noted that the attractions of the DMG system have been enhanced by China’s recent decision to ban the import of waste plastic.

READ: PowerHouse Energy identifies site for distributed modular gasification system

Having whizzed past a number of milestones in 2017, including the commissioning at the University of Chester’s Thornton Science Park of the prototype G3-UHt unit and the successful demonstration of its ultra-high temperature production of syngas from waste tyres, the company outlined its key priorities and targets for the current year.

These include:

  • Continuing design work of the first commercial DMG;
  • Building, commissioning and full-scale operation of the first commercial DMG;
  • Working with its partner Peel Environmental in advancing the planning and other permissions for the first Cheshire site;
  • Signing agreements on the feedstock for the commercial G3-UHt system and on the ultimate use of the syngas;
  • Creating a plan for the further development of the Cheshire site, with the ultimate target of having the capacity to produce more than two megawatts of electricity and three tonnes of high-quality hydrogen per day;
  • Continuing to explore worldwide partnering and licensing opportunities for the DMG system, including the possibility of DMG networks in Qatar, East Asia, continental Europe and the USA;
  • Seeking and agreeing strategic alliances, and pursuing other initiatives, in transport-related fuel cell applications.

“The year to 31 December 2017 has been a year during which PowerHouse Energy took major strides towards achieving its objective of commercialising its proprietary and highly efficient technology to convert plastic and other waste into syngas for hydrogen production. We have been a pioneer in the distributed hydrogen-from-waste-plastic market in the UK and we are targeting early adoption of our technology,” said Keith Allaun, the chief executive officer of PowerHouse Energy.

READ: Powerhouse Energy completes design blueprint for waste-to-gas system

“From a financial perspective, we eliminated a significant hurdle to our growth by reaching agreement to retire the convertible note with Hillgrove Investments Pty Ltd through the payment of £2 million in cash and the issuance of £1.4 million in equity; the note was accruing nearly £500,000 in interest per annum.

“We enter the New Year focused on delivering the commercialisation of our DMG technology during 2018, and we remain confident that hydrogen from waste plastic will emerge as a preferred fuel for road transport,” he added.

View full PHE profile View Profile

PowerHouse Energy Timeline

Related Articles

Offshore oil rig
September 17 2018
Plexus has a suite of POS-GRIP-enabled products ready for market
Texas flag
September 04 2018
Well workovers in June boosted average gross production before royalties to around 44 barrels of oil per day
Oil and gas workers
April 18 2018
Tapi Aike, located in the Austral basin, was one of most hotly contested blocks when it was put out to tender

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use