(Alliance News) - Powerhouse Energy Group PLC on Tuesday said it has secured a patent in the UK for its technology, and is "already in discussions with a number of clients".
Shares in Powerhouse were trading 16% higher at 1.13 pence each in London on Tuesday afternoon.
The Bingley, England-based non-recyclable waste-to-energy conversion company said its patent application GB1910309.2, titled 'Treatment of waste producing recirculated combustible', has been granted.
"We are delighted to have secured this GB patent, which will allow us to accelerate the development of commercial applications for our technology," commented Chief Executive Officer Paul Emmitt. "This also validates the engineering work that has gone into getting us to this point, and the company's continuous drive towards our first commercial application."
Powerhouse explained that the patent gives it intellectual property protection in the UK - which it expects to "become a key market" - for the technology to use recirculated synthesis gas to heat one or more chambers, and provide electrical power via a gas generator.
This should "increase the efficiency" of the waste treatment process "and allow the process to be 'self-sustaining' when in operation, by removing the reliance on an external gas source", Powerhouse added.
The firm continued: "This is another significant milestone for Powerhouse providing validation of the work undertaken by the team on its technology to create a novel solution that will allow Powerhouse to disrupt the clean energy market."
Powerhouse added that it is "already in discussions with a number of clients" which are seeking to reduce their dependence on "virgin" fossil fuels.
Furthermore, the company said it "looks forward" to progressing its patent applications in Europe and other regions.
By Emma Curzon, Alliance News reporter
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Powerhouse Ener (PHE)