Powerhouse Energy Group PLC (AIM:PHE) told investors its wholly owned Engsolve engineering services subsidiary has made “a fantastic start” to 2025.
In a trading update focused solely on the subsidiary, Powerhouse highlighted that Engsolve has landed contracts worth just over £1 million in the first four months of the year.
The contacts comprise both new and repeat business. Key projects include front-end engineering and design (FEED) for National Hydrogen, owner's engineer support for Wastefuel of America, and a pilot facility build for a confidential aluminium recycling client.
Engsolve is also continuing work with TrimTabs on its carbon nano-tube process, Powerhouse noted. Meanwhile, it said further contracts remain under negotiation.
“This is a fantastic start to the year for Engsolve and proves that there remains a substantial opportunity to grow the business in its own right, as well as a subsidiary of PHE,” chief executive Paul Emmitt said in a statement.
“The fact that we have already secured contracts similar in size to last year's turnover in just the first four months of 2025 is testament to the teams' hard work and professionalism, as well as the growing reputation and expertise of Engsolve.”
Emmitt added: “It is also very encouraging that new technology developers are seeing the PHE pilot plant and seeking Engsolve services in the development of their technology as well as the building of their own pilot plants.”
The progress at Engsolve comes as Powerhouse is advancing its efforts to drive commercialisation of its waste-to-power technology, supported by the recently completed feedstock testing unit (FTU), which began hot commissioning back in January and serves as an important showcase of the technology.
In London, Powerhouse shares gained just over 3% in Tuesday's deals.