logo-loader
viewPowerhouse Energy Group PLC

Powerhouse Energy secures £700K in capital to support operations

With the funds secured, the firm is "confident that we will be able to achieve our ongoing commercial objectives as well as expand our testing and engineering capability"

Powerhouse energy
The equity raise was carried out by Turner Pope Investments

PowerHouse Energy Group PLC (LON:PHE) said it has raised £650,000 through a share placing to provide capital to support the continuity and expansion of its commercial and engineering efforts.

The placing of 130mln shares was carried out by Turner Pope Investments, whose clients were looking to take advantage of the EIS tax break the company recently received.

The group has secured a further £50,000 of capital through an exercise of warrants.

READ: PowerHouse Energy to engage in “advanced commercial discussions” with Toyota Tsusho

"With this money secured, we are confident that we will be able to achieve our ongoing commercial objectives as well as expand our testing and engineering capability with new personnel and with newly acquired, highly-specialised, equipment," said chief executive Keith Allaun.

"We also intend to further enhance our IP protection related to the DMG® System and EcoSynthesis Gas production."

Quick facts: Powerhouse Energy Group PLC

Price: 0.41 GBX

LSE:PHE
Market: LSE
Market Cap: £7.89 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

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...

In exchange for publishing services rendered by the Company on behalf of Powerhouse Energy Group PLC named herein, including the promotion by the Company of Powerhouse Energy Group PLC in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: PowerHouse Energy has platform to establish itself as a...

Powerhouse Energy Group plc (LON:PHE) CEO Dave Ryan caught up with Proactive London's Andrew Scott ahead of the firm's AGM in London. This week PHE announced they've  entered into collaboration agreements with Peel Environmental (Peel) and Waste2Tricity Limited (W2T) for ten more...

on 14/8/19

2 min read