RE: Sunday Express Today3 Apr 2022 16:56
PT. I concur with your reasoning as I thought that was the purpose for the following.
POWERHOUSE ACQUIRE SHARE CAPITAL OF ENGINEERING CONSULTANCY ENGSOLVE
12TH AUG 2021
Transaction will ensure that Engsolve’s expertise remains available to PHE in future.
Powerhouse Energy, the sustainable hydrogen company, has acquired 48% of the share capital of Engsolve Limited, the engineering consultancy who has worked closely with Powerhouse’s technical team developing recycling technology that transform plastics and waste into clean energy.
Powerhouse Energy Group plc (AIM: PHE) recently appointed Engsolve’s Managing Director and Founder, Paul Emmitt as Chief Technology Officer who has worked with Powerhouse for the last four years. This transaction will ensure that Engsolve’s expertise remains available to PHE in future.
Tim Yeo, Executive Chairman of Powerhouse Energy said: “We are delighted to have acquired 48% of the share capital of Engsolve, a company Powerhouse has worked closely with for four years developing our technology which transforms plastics and waste into clean energy. This acquisition ensures Engsolve’s excellent expertise remains available to Powerhouse as our technology helps to improve the world’s environment for future generations”.
Paul Emmitt, Managing Director and Founder of Engsolve said: “Engsolve welcomes this partial acquisition and I am delighted Powerhouse Energy will utilise the extensive expertise within Engsolve to aid in accelerating the world’s clean energy transition and into transforming plastics and waste into clean energy”.