Protos News Updated with write up on Planning Approval.
http://thisisprotos.com/news/
Piltick:
I was down on the site yesterday, and can say no work regarding site clearance or installation of services has begun, but work was being undertaken around the site of the sub-station, which Kenny has referred to.
Appears that the BB is nice and relaxed today and looking forward to a positive result from the Planning Committee this afternoon.
With the recommendation of the Planning Officer all should be ok in principle, looking at the way the vast majority of applications have gone with the Officers recommendation.
This will be a big result for PHE with the go ahead for its first commercial DMG unit, which should be the showcase with regard to how to help deal with the growing quantities of non-recyclable plastic, across the globe.
Hopefully with this first significant hurdle out of the way, we can crack on dealing with the bureaucracy for the next 4 projects, supported by Peel Environmental.
Just about to post the same, Kenny.
I would think a positive outcome from the Planning Meeting tomorrow, will give us another lift, maybe not to 5.5 though, but with additional news on the further 4 projects, you never know.
A bit of a tin hat day all round today but at least PHE recovered a little. Somewhat unfortunate that PHE could be heading to a red letter day if the Planning Application is successful, (which it should be with the approval recommendation), with a market headwind created by covid and its inherent fears, real or otherwise.
Despite the sp fall over the last few days the technology remains the same along with the support of Peel Environmental, wanting to push along with the 5 DMG projects.
Kenny:
From memory all the Planning meetings start at 4.00pm, and looking at the number of applications submitted, over the past few months, its taking about 20 mins for each application on average. Maybe a little longer with ours owing to the industrial nature.
So, to me, most, if not all of the groundwork/prepwork has been completed, hence the recommendation by the Planning Officer , to keep proceedings swift and sharp
DR.
Some frenzied selling in 500K and 300K blocks with a couple of 1m thrown in as well. Rough calcs show about 11m sold in these blocks in total, could well be the warrant holders recouping the cost of the warrants (as Piltick indicated yesterday), so they have a free carry with the residual shares, heading towards the Planning meeting on Tuesday, next week.IMO.
So should be onwards and upwards, if this is the case.
Ducks beginning to line up nicely here. Planning going to committee on the 3rd with a recommendation for approval, 96% of applications in the past 4 months have gone with the recommendation.
On approval, grant funding in the bag, with Peel providing further financial support, imo, and the drive to confirm the commerciality of the DMG process, and a further 4 projects to follow under the same licence fee agreement.
Feels, at last, that PHE are getting out of the starting blocks.
I've been looking at the track record of the Planning Committee that is dealing with the Protos Application on the 3rd March.
Over the last four meetings (Nov - Feb) there were 23 applications that went before the committee and 22 followed the recommendation of the Planning Officer ( 21 Approvals and 1 Refusal), with only one being deferred for further consultation, which had been recommended for approval.
They were a mix of industrial, commercial and residential applications, which is to be expected.
Looks like the important work is to obtain the recommendation of the Planning Officer for approval, to prevent extensive deliberations at Committee level, I assume.
The Planning Application has had no further updates since approx 16th Jan, so it must be good to go, with Planning Officer recommendation for approval, I trust.
Telephoneman:
Yep, no problem at all. The Protos Plot 10b is only 15mins walk from me, and its a good excuse to take some exercise.
Plot 4, (Waste wood to gas), that had recent Planning Approval, had machines on the ground one week after approval was granted. Just shows, when Peel want to get moving they get on with it, pronto.
Lets keep feet on the ground - we need to prove a commercial potential solution to the mega plastic problem, first of all, and this hinges around the Protos project. This could be the start of something that could be a worldwide initiative to have the benefit of plastic products and have a sensible solution to recycle.
First we need Planning Application approval for the Protos site, which is pencilled in for the Committee meeting of the 3rd March, and should be on the formal agenda released early next week- Mon/Tues.
On approval, I would expect confirmation of funding from the already declared grant sources and then additional support from Peel.
Then we can sort the W2T deal, and get some building work started at Protos, and when complete, it will give us the commercial showcase that we need.
Telephoneman:
From PHE RNS 11th Feb:
"The Supplemental Agreement contains arrangements for the monetisation of the DMG® Technology at Protos, which will include a £500,000 annual license fee payable to PowerHouse per project upon each project being commissioned. "
Emphasis on the "annual"
Could it be that as PHE have agreed an annual license fee for the first and subsequent 4 projects, that Peel are prepared (with a mix of government grants) to fund, not only the FOAK but also the subsequent four projects?
Just a thought!
Stokey:
Just noticed your post re: backup feedstock supply if ASD are not in position to provide.
I had this conversation with John Hall (W2T M.D.), at the community events in the village last summer and he assured me that a backup plan is in place, with arrangements with the local councils to provide the feedstock, if the progress of ASD's planning application becomes out of step with ours.
How formal this "backup arrangement" is, I couldn't really say.
Streaky:
IMO, PHE is resident on a lot of traders/investors radars and I suppose many have been waiting for the chunky sales to subside.
i.e. 200K, 300K, 500k 1m etc.
These, I think have been driven by the recent equity issue to service providers, many of which have cashed in their chips.
This also happened in November, when the sp slid approx 30% from 0.4 ish to 0.28 ish and I was expecting similar this time round, from the sp of 0.8 when the equity RNS was released.
A similar 30% drop would have given an sp of about 0.56, but we didn't quite hit that this a.m. possibly due to some hanging on to their shares waiting for the result of the Planning Application.
So hopefully the chunky sellers have subsided and this is the start of the sp climbing back to previous highs.