(Alliance News) - Powerhouse Energy Group PLC on Wednesday said it has received a letter of support from the Japanese Ministry of Economy Trade & Industry.
The waste-to-energy technology company said the letter follows "many" months of engagement and review of its DMG technology. DMG is the thermal conversion of carbonaceous organic materials – converting complex molecules to simple, safe molecules.
In the letter, the Japanese government ministry said it considers the DMG technology to have many environmental advantages, and views it as a major competitor within the low-cost production of hydrogen, PowerHouse said.
The AIM-listed company said it looks forward to the future development of opportunities arising from this positive engagement in Japan, but notes there is no immediate commercial benefit from this letter of support.
PowerHouse shares were trading 1.4% higher on Wednesday in London at 0.43 pence each.
Powerhouse Ener (PHE)