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LONDON (Alliance News) - PowerHouse Energy Group PLC Friday said it now anticipates demonstrating un-interrupted commercial operation of the Munich facility by the end of June 2015.
The news comes after the company said last month that the second phase of the Eitting redevelopment and commercialisation project is now complete.
Phase three of the project - the final engineering, manufacturing and testing of PHE Gen3-UHt Gasification technology, has begun in Australia at the facilities of the company's newly appointed engineering partner, Ore-Pro Pty, Ltd.
"It is anticipated that due to the successful development and demonstrations in Australia, the Swiss engineering operations of the company will be eliminated, with only essential business development and support personnel remaining in the region, thereby reducing the cost-burden on Powerhouse," the company said.
Following the acquisition of Pyromex and a robust evaluation of its commercial potential, Executive Chairman Keith Allaun said, the company realised that it would be in shareholders' interests to completely resign the gasification process.
"A third party presented us with an innovative design which made us realise that we could better serve our potential customers and shareholders by bringing an advanced engineering and commercialisation approach to the system. The PHE-Gen 3 UHt Gasification System positions PowerHouse to provide a vastly superior and competitive offering in the rapidly growing Waste-to-Energy market" Allaun said.
PowerHouse shares closed up 10% at 1.85 pence on Friday.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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