PowerHouse Energy PLC (LON:PHE) has moved to calm shareholders that may have been perturbed by a report in yesterday’s Sunday Express.
The Sunday Express report on PowerHouse partner Waste2Tricity gave the impression that the technology behind heating plastic so that it “gasifies” into hydrogen had been developed by Waste2Tricity.
In fact, the technology has been developed by PowerHouse and the AIM-listed company is in the process of filing patent claims for its DMG Thermal Conversion Process.
Waste2Tricity has agreed to license the technology from PowerHouse.
The Sunday Express article also reported that Waste2Tricity has "teamed up with Toyota to open new recycling and refuelling stations”; for the sake of clarity, PowerHouse noted that no agreements regarding the deployment of the DMG Technology for new recycling and refuelling stations have been finalised between the parties.
Shares in Powerhouse were up 3.7% at 0.52p.