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Might be worth reading his experiences in the Courts this decade...
Tim Yeo is Chairman of W2T - ex conservative MP and involved over the years in many efforts to either a. Make money from waste b. Help the environment through waste treatment or biofuels c. Both
I’m hoping for the latter.
W2T established in 2008 to maximise returns from the ethical disposal of waste. In all that time I am not aware they have actually disposed of any waste at all yet?
TOB: Just to answer your questions:
The company was "Dormant" because it hasn't done anything since its incorporation, it has just been sitting on the register as a £100 company, until it was renamed in February this year for the purpose of this project at Protos. The reason that it hasn't done anything since it was renamed is because nothing has happened so far with regard to the DMG project at Protos, so there have been no accounting entries yet. But the company is now established and waiting for the first transactions.
All IMHO of course.
Gentlemen all,
Here is my five pennies worth
Piltick. That would indeed make good sense but as it was formed in 2019 why haven’t they used it? Also the company filed accounts in 2019 for “ Account for a Dormant Company “
Stokey. The grant money (according) to the RNS is going to W2T Protos
Kenny. Correct that is what the money is for ……….but it will be in the hands of W2T Protos
BumbleB. For me the valuation needs to be qualified
Correct me if I am wrong but W2T
Loss making, has 22 Officers, but no staff, no patents.
Re your link LSE PR Newswire, Perhaps it is a good job that PHE are taking over W2T. The deal that are mentioned in this article have any profits been made by PHE?
It also mentions reducing manufacturing costs for the AFC Energy Licence in Thailand.
Interesting…. so the Thailand operation seems able to manufacture AFC E Units but not AFC E………………..back to PHE now I’m thinking Quality concerns and Litigation….
That’s me done. Again very many thanks for your courtesy I hope that I have in my own way help you too.
Incidentally, this company is shown as "active" at Companies House. Previously established under a different name and renamed WASTE2TRICITY (PROTOS) LTD. on 19 February 2019.
The full name of the company as registered at Companies House is:
WASTE2TRICITY (PROTOS) LTD.
This is the company that I suspect is intended to be the SPV to be used for the DMG unit at the Protos site.
PHE is not mentioned in the name of the company, unless there is another company that I have not spotted yet.
https://www.insidermedia.com/news/north-west/conditional-grant-for-proposed-protos-facility
The grant has been awarded to purchase the thermal conversion chamber, a core part of the Protos Plastics to Hydrogen Facility to be built at Protos Energy Park.
Very many thanks to you all I will need a little time to digest your comments.
I would only add to Piltick's post of 16.40 that the land on which the probable first unit will be built has been leased by Peel to W2T. In answer to the original question the grant is going to W2T as they will as I understand it be the developer of the site.
That does not explain why the SPV was set up in the name of PHE by their agents W2T.
See this RNS. https://www.lse.co.uk/rns/PHE/agreement-with-project-development-consultant-qfl45jrdp5hyxp9.html
TOB: I believe it is because it is the intention to establish a SPV (which we oldies used to call a JV) for each DMG installation, and so W2T (Protos) Ltd. will be the SPV that will be used for the first such DMG installation on the Protos site. All of the capital expenditure, revenue and operating costs will go through the SPV.
Well that is my understanding of the situation, but I will be happy to corrected if I am wrong.
Prospectus, not prospective.
PHE have been developing the gasifier that creates hydrogen from waste plastic. They engaged W2T as agents to negotiate with others for the use of PHE technology, apply for grants, etc. The two companies are set to become one, as PHE takes over W2T giving them 40% of the shares in the new company. I don’t fully understand how W2T got to be so valued if I am honest, and am waiting to see the prospective for the merged company. In recent weeks there has been a lot of ramping, though to be fair the company was seriously stock-bashed for about two years prior to that.
I would like to invest in PHE so I am still doing research I am hoping someone can explain the reason why the Grant money mentioned in the last RNS is going into W2T (Protos)dormant company ? Having 2 Directors Mr J M Hall and H White.
The latest RNS reads "PowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering hydrogen production from waste plastic, is delighted to announce that a grant of £1.25m has been awarded to, Waste2tricity Protos Ltd, for the DMG® Hydrogen from Waste development at Protos, near Ellesmere Port, in Cheshire.