IN BRIEF: Powerhouse Energy looks to raise around GBP650,000

Powerhouse Energy Group PLC - Bingley, England-based firm focused on turning non-recyclable waste into low carbon energy - Plans to raise at least GBP500,000 via a placing at 0.2 pence per share. The placing will be conducted by way of an accelerated bookbuild. Turner Pope Investments Ltd is acting as sole bookrunner and sole broker in respect of the placing. Proceeds will facilitate an acceleration in the research and development activities of the company, in particular to fully demonstrate the flexibility of the DMG process at its Technology Centre in Bridgend, as well as to allow the company to increase the momentum of its current project pipeline. In addition, Powerhouse looks to raise up to a further GBP150,000 via a retail offer at the same price.

Current stock price: 0.20 pence

12-month change: down 60%

By Jeremy Cutler, Alliance News reporter

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