Powerhouse Energy highlights transformative six months
Post-period, the waste-to-energy group also noted the completion of its Waste2Tricity acquisition and a £5mln fundraise to help grow its operational team
Company
LON:PHE
Powerhouse Energy has developed a process technology which can utilise waste plastic, end-of-life-tyres, and other waste streams to convert them efficiently and economically into syngas from which valuable products such as chemical precursors, hydrogen, electricity, heat and other industrial products may be derived. The company's process produces low levels of safe residues and requires a small operating footprint, making it suitable for deployment at enterprise and community level.
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Post-period, the waste-to-energy group also noted the completion of its Waste2Tricity acquisition and a £5mln fundraise to help grow its operational team
On behalf of the board, Yeo expressed his warmest thanks and appreciation to his predecessor, Cameron Davies
The company said the cash will allow it to deliver the first commercial-scale installation of its DMG technology, which can convert plastic and other waste into syngas from which products such as hydrogen and electricity can be derived
“Working with Powerhouse we’re creating a blueprint for this UK first plastic-to-hydrogen facility, with plans to roll out many more across the UK," Peel L&P director Richard Barker said
Tim Yeo, a former Shadow Secretary of State for Trade, is currently the chairman of the New Nuclear Watch Institute
There is a pipeline of 10 more "Plastic Parks" that will be developed by Powerhouse's partner, Peel Environmental
The pieces of the jigsaw are coming together for PowerHouse Energy PLC (LON:PHE) under the stewardship of chief executive David Ryan
The company said it is close to completing due diligence on its proposed acquisition of Waste2Tricity
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International interest in the company's DMG technology continues to grow,
“During this year we have streamlined our business focusing on the delivery of the first plant and in line with this we have secured first revenues..." said chairman Cameron Davies.
The DMG technology will be a cornerstone of ‘Plastic Parks’ being developed by Peel Environmental.
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It would be better to use glass bottles rather than plastic bottles - a plastic bottle can take 450 years to break down - but if we have to have plastic bottles then Powerhouse's DMG technology could be used to turn those bottles into hydro
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