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Pin to quick picksPowerhouse Ener Share News (PHE)

Share Price Information for Powerhouse Ener (PHE)

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Share Price: 1.225
Bid: 1.20
Ask: 1.25
Change: 0.25 (25.64%)
Spread: 0.05 (4.167%)
Open: 0.975
High: 1.25
Low: 1.125
Prev. Close: 0.975
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Powerhouse Energy completes manufacturing of feedstock testing unit

Tue, 16th Apr 2024 11:57

(Alliance News) - Powerhouse Energy Group PLC on Tuesday said the manufacturing of the 2.5 tonne per day kiln for its feedstock testing unit has been completed.

The Bingley, England-based non-recyclable waste-to-energy conversion firm said its designed kiln, which has been manufactured by Agico in China, is now being shipped to Powerhouse Energy's technical centre in Bridgend, Wales, having left Agico facility on Monday, to meet the shipping vessel on April 29.

Powerhouse Energy said Agico was chosen to provide the kiln after "much research", including an independent verification of their facilities, processes, and workmanship by SGS Societe Generale de Surveillance SA. It also utilised the services of SGS to oversee packing and preparation for shipment.

Shipping is expected to take around 45 days to reach the technical centre, Powerhouse Energy said, following which installation will occur.

Powerhouse Energy also said it has placed orders for a gas cleaning system from VUM Gmb and a gas analysing system from ABB Ltd. This is alongside orders for "all other major ancillary equipment" required to complete the installation process.

It said work has continued within the facility and a new ventilation system has been installed and commissioned, while a feedstock delivery system is "in an advanced state of design".

It also said it working to improve on the stated four quarter timeline for operational delivery of the feedstock testing unit.

Powerhouse Energy said it will provide further updates on the opening of the technical centre in "due course".

Chief Executive Officer Paul Emmitt commented: "This is a huge milestone for Powerhouse, and we delighted to have achieved this given the issues and delays caused by the liquidation of our previous supplier Mitchel Dryers Kingmoor.

"We are looking forward to the completion of the [feedstock testing unit] towards the end of the year which will allow us to accelerate the development of commercial applications for our technology."

Shares in Powerhouse Energy were up 17% to 1.02 pence each in London on Tuesday late morning.

By Greg Rosenvinge, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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