The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Patx
I thought the 1 tpd DMG has been shown to work satisfactorily, and the plans for a 35tpd DMG were given some sort of accreditation a year or 2 back (June 29 2021). But, as we are told, this is all in the past.
And for the history buffs:
15 October 2013
PowerHouse Energy Group plc (the "Company" or "PowerHouse")
Testing and commissioning program continues
• Longer-term testing showing excellent results
• High quality synthesis gas produced from multiple feed-stocks
• Customer enquiries rising
PowerHouse announces that the testing program begun by its wholly owned subsidiary Pyromex AG ("Pyromex") continues successfully and that the level of customer enquiries to view the operation of the 5 tonne per day unit at Schwartzenbach, Switzerland has risen significantly since testing commenced.
The initial phases of testing, including repeated thermal cycling, long-duration 'dry' operation and the continuous feed of multiple feed-stocks has shown considerable promise for the commercial delivery of the platform on schedule.
As part of the testing programme, Pyromex will be seeking to obtain full EU Compliance Certification for the smaller 5 tonne per day unit which it expects to achieve within the next 30 days.
The testing program and customer demonstrations will continue for the near future with commercial delivery expected in early 2014.
Divvy
i agree with much of what you say, but reiterate that hydrogen was not the only possible output. I think PHE were unwise not to be more flexible in their thinking. I do not know what the cost per Kwh would have been, but electricity production and export to the grid was always an alternative, as was syngas.
The fact that PHE is debt free (at present) is a plus.
moab
Divvy
This is just a re-run of the recent RNS. The only significant progress of any sort will be the completion of a functioning DMG, sadly not mentioned in the RNS. Phrases like 'Significant progress' from the Chairman are meaningless until a DMG appears.
KR is in a difficult place defending the indefensible, and it showed in the interview. When they got rid of the awful Yeo, I thought perhaps things might improve, but no. And Drennan Durose presumably cleared off once he had had a chance to understand exactly what had been happening. Improving revenue by buying a Welsh engineering outfit is not going to pay for a DMG of any size, regardless of the spin put on it. It is a distraction.
Patx
I found this interview quite extraordinary. WTF have PHE been doing in the last few years? It is just 2 years since design for a 2 tpd of hydrogen DMG was validated (see RNS 29 June 2021). What was the point of getting planning permission at Protos if this was never going to be built? What was the point of ordering long lead items which were never going to be used? As KR admitted, PHE had the wrong model. He said (almost verbatim) “You can’t licence something that does not exist, or if you can’t demonstrate the technology”. So where was the DMG that was to be built at Protos? KR was very keen to brush all this under the carpet; “these things lie in the past” as he put it. So, it is not clear what PHE have been doing over the last few years, but one thing is clear, it was not building a DMG. And now PHE is back to building a mini demonstrator in S Wales with which to demonstrate the technology. As other projects have shown, building mini demonstrators does not guarantee success at full scale.
KR also discussed the difficulty of the embryonic hydrogen market, as if this was a limiting step for PHE. Hydrogen is not only product from the DMG; what happened to electricity?, syngas?.
KR said in essence ‘Forget the past, we are now on a new track’ He had better be right.
There can be no more delays or excuses.
Moab
EmeraldC
I am sure that way back there was a report of cells captured by Parsortix being cultured. I have a concern that Parsortix might remain a research tool, rather than entering routine clinical practice - with obvious implications.
Dr A
Can't be bothered with Telegram. I think Artji (30th June 12.33) makes a good point, and if not dishonest, then certainly disingenuous of PHE.
Many of us are, in one way or another, are concerned about the direction of travel of PHE, and the word nowhere springs to mind. Please convince me otherwise.
This was a heavily spun RNS and sadly, however cleverly spun, it is not possible to make a silk purse out of this particular pig's ear. There is NO mention of, or timeline to, the DMG of any size. We have optimistic statements like
"Powerhouse is making strategic investments and partnerships to secure its position in the global waste-to-energy sector. With a strong balance sheet and a clear vision, the company is well-positioned for future growth."
This is awful guff and does not obscure the fact that PHE's prime objective is as far away as ever.
And before the chartist from Bolton starts ranting, I am an utterly disillusioned LTH.
Those who paid 80p at the placing last year may well be out in force on Wednesday's AGM.
Also, other applications:
I wonder what steps are presently being taken by AGL to increase the spread of applications to other malignancies; ovary, prostate for a start.
Also - a long shot - Some time back Parsortix was trialled in early pregnancy for foetal abnormality screening. This used foetal cells captured in maternal blood if I remember correctly. That could be quite a winner.
Piltick
I am wrong, but just quoted the RNS as below:
Engsolve was owned 48% by PHE and 52% by its two directors, Paul Emmitt and Richard Riddell. Mr Emmitt is the Chief Operating Officer of PHE. Mr Emmitt has sold his entire holding in Engsolve and is a related party under the AIM Rules for Companies. The transaction with him is therefore a related party transaction under these regulations.