In March 2014, management reached an agreement with RenewMe, agreeing to pay €211,000 in cash (which will be paid from part of the cash raised in the current fund-raising exercise [source: RNS 30 April 2014]) and issuing 18.3m new shares in full and final settlement of the outstanding payment. RenewMe now holds a 5.0% stake in the group.
With opportunities in several countries, PowerHouse has the potential to drive rapid growth subject to appropriate funding being secured. We estimate that c $2.5m of forecast debt at December 2014 has still to be financed. Looking forwards, we estimate that 10 50tpd reactors built, owned and operated by the group would generate $47-72m revenues annually including tipping fees and environmental feed-in tariffs, depending on the feedstock used and wholesale electricity prices. This represents $35m to $59m incremental operating profit.
but an exposion would be much preferred......seems we might have to wait months now for any kind of rise. Then again you never know on AIM.......Casino that it is but seems much more likely we're talking months - unnfortunately
Financials: FY15 is the turning point Cash from commercial generating activities at the established facility near Munich, which is expected to come on line towards the end of FY14, and the first equipment sales, anticipated in early FY15, are expected to deliver maiden profits for FY15. While the balance sheet is looks weak, with net debt (primarily the Hillgrove convertible note) at $2.5m, and no banking facilities, at end FY13, management reports that Hillgrove has committed to ongoing funding at least through 15 June 2015, while the company continues its external fund-raising activities. The group is dependent on continued support from Hillgrove or successful external fund-raising activities to generate sufficient cash to start commercial electricity generation at the Munich site.
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