Powerhouse Energy Group PLC (AIM:PHE) this week updated investors on the successes seen in its Engsolve subsidiary, which secured over £1 million in contracts during the first four months of 2025.
For context, Engsolve had previously operated with an annual turnover between £1 million and £1.5 million. The current contracts, expected to be completed within the financial year, mark a significant acceleration.
CEO Paul Emmitt joined the Proactive studio to tell us more about it, here we take a closer look at what was said.
Proactive: Paul, very good to speak with you. You put out an update on Engsolve. Could you talk us through it?
Paul Emmitt: Thank you very much. I think that we are in a very strong position with Engsolve at the moment.
We were historically a £1 to £1.5 million turnover company. Within the first four months of this year, we've secured over £1 million in contracts, all to be completed within this financial year.
The crux of this is twofold – return clients and new clients, some of whom came from events like the Capital Markets Day with Powerhouse.
As you saw yesterday, we announced the national hydrogen feed, which is a Powerhouse contract.
That job is nearly complete, expected to finish in the first week of June. The feed report is complete, and we also undertook planning and permitting work during the feed, making progress for both Engsolve and Powerhouse.
One of our big wins is acting as owner’s engineer for Waste Fuel, an American company doing green bioethanol. I had worked with the client previously.
We have three or four engineers working on their first plant in Turkey, which is a strong win.
We’re also working with a large American EPC on new technology, and that gives us significant market exposure.
We've also secured the design and build of a pilot-scale aluminium recycling facility. That client approached us directly after the Capital Markets Day. It's confidential for now, but more will be announced later.
We continue to work with TrimTabs, who are growing rapidly.
They're based in our Bridgend offices, and we are growing with them—adding staff to support that growth through 2025 and likely into 2026.
Proactive: Okay. Can you give us an idea of what's driven it?
Paul Emmitt: Yeah. I get asked this a lot. Engsolve hasn't historically marketed itself, although we are starting to now.
Most of this business is from repeat or prior relationships.
The Powerhouse open day for the feedstock testing unit opened a lot of doors, for both Engsolve and Powerhouse.
Everything we do benefits Powerhouse and showcases our in-house engineering expertise.
Proactive: What do you mean when you say Engsolve is independent, as it's your 100% subsidiary?
Paul Emmitt: I knew you'd ask this. I call it independent because Engsolve has to remain technology agnostic.
It can't be tied solely to DMG technology, otherwise we wouldn’t generate third-party revenue.
We run the business with internal Chinese walls between Engsolve and Powerhouse, allowing us to work with clients who may be competitors to Powerhouse.
This grows our market segment. Some companies may be seen as competitors, but someone has to be first.
If we can be involved, that benefits us and the sector. Other companies generating revenue with similar equipment actually helps Powerhouse.
Engsolve is well positioned to support that.
Proactive: Paul, what does this all mean for Powerhouse?
Paul Emmitt: This proves the group’s engineering credentials. It reassures potential clients that we have strong internal capability.
We can offer feed, conceptual design, feasibility, planning, and permitting support.
Everything Engsolve does benefits Powerhouse and allows us to provide a broader offering than just technology.
Despite being structured as independent, we are one team Engsolve and PHE staff work together regardless of the project.
That’s why I’m growing both teams, adding staff and skill sets to build our capacity.
Finally, the annual report will be available in a few weeks.
It reviews 2024 and outlines our strategy going forward, helping to fill in the picture for investors and shareholders.