RE: NEO IPO12 Oct 2025 13:46
Hi Red
Yes, yet another delay.
As we have questioned before regarding their IPO to what extent, if any, it effects hoped for orders from National Hydrogen. The FEED money was found without it, but with the average cost of a 40tonne pyrolysis unit costing $5,000,000 coupled with not knowing much about National Hydrogen other than that they are a part of a much larger holding company, it must questioned whether a successful NEO IPO is a prerequisite for that signature on the dotted line to which Emmitt has referred. Also, it is dependent on a successful planning application and that the FEED outcome is one National Hydrogen deem to be beneficial in order to go forward.
Could this delay be the reason for the slight fall in the share price despite the CFO purchasing recently?
It's been eight months now since the open day, and the absence of any confirmed orders clearly demonstrates that just because there is a desperate and monumental problem that requires solving does not necessarily mean those with the answers are able to successfully put the two together. I feel Powerhouse should now be raising money for the purpose of building a much larger factory in order to handle anticipated multiple orders. They need to do this for practical reasons but also to demonstrate to potential customers that they can handle multiple orders in a short a time frame as possible. For this, I feel, could be what's holding back potential customers who want more than one unit.
Powerhouse are at a critical juncture, and it's worth remembering that Engsolve is still a private limited company ring-fenced financially from the public limited company that is Powerhouse Energy. In other words, Powerhouse eventually have to prove their mettle.
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