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mja, in one of his interviews David Ryan said that PHE would be taking a shareholding in the Protos SPV but didn't say how much, and he added that this was not their general strategy and that this would be a one-off situation because it was the FOAK. I thought that perhaps that was at the reason for PHE raising £10M, thinking that perhaps that was to cover about half of the anticipated capital cost of the project. They loaned £3.8M of that to the SPV, repayable at the end of May, but I have a suspicion that it will become part of the SPV shareholding instead of being physically repaid.

Could be wrong of course!

Thanks for that mja. It will be interesting to see what percentage of the SPV is taken by Peel and how much by PHE. And indeed whether there will also be a third shareholder.

Interesting comment Doc. I have been pondering a similar thought for some time. I recall that several months ago, perhaps even over a year ago, Peel were looking for an investor (or investors) to help fund the Protos DMG project, and it made me wonder if Peel intended to take a share in the SPV themselves or do they intend to simply provide the site and infrastructure and make an annual lease charge to the SPV.

Actually, I wonder if they intend to take a share in any of the projects that are being developed on the Protos site, or are they just providing the site and infrastructure in each case. I really cannot see that they would have the capacity or the inclination to take a share in all of them, so why would they take a share in the DMG project?

Except perhaps that they seem to want to have exclusive rights as developer in the UK. But I'm not so sure about that any more.

Yes Tatty, Accounts are due by 30th June. Don't know about AGM, but probably around end of July.

I expect we will know next Monday whether Peel's planning application of 7th October will be on the agenda for the next Planning meeting on 5th July.

Thanks LedZep for the update. Certainly looks like something is about to happen!

You’re right Vii, the DMG will be dependent on the waste facilities on the Protos site for feedstock, and on the electricity connector on site to sell the electricity produced by the DMG, and later on the hydrogen refuelling station for the sale of the hydrogen produced.

So it is important for Peel to build the facilities in a logical order, as it would be pointless having the DMG in “ready” mode before the other facilities become available.

Testpack, where do you think Rothesay is?

RNS was out yesterday but not showing up on this web site. Try looking on PHE’s web site.

GingerB: I imagine HMG have a lot on their plates at the moment, especially TopCat!

As this decision was only made by the Planning Committee sometime this afternoon, I suspect PHE wouldn’t have had time to publish an RNS before the market closed today. Hopefully tomorrow.

I see that Peel’s planning application for Rothesay is going before the Planning Committee tomorrow (Wednesday 8th) with recommendation to approve. Let’s hope it goes through.

We're going to need an awful lot more renewable electricity to produce all of the hydrogen that's going to be used!

I see that the Significant Shareholders list has been updated on PHE's web site, as at 31st March 2022, previously as at 7th April 2021. The total the White family's shareholding has increased by abut 36M shares since the last update, from 965,893,747 to 1,001,987,257 (from 24.67% to 25.32%).

That shows a strong commitment to the company, IMV.

https://www.powerhouseenergy.co.uk/investor-hub/significant-shareholders/

I thought that was worth a tick-up haggis. Well near enough!

And we're all hoping that when the news comes, it will be GOOD news!

How do you find details of Tim Yeo's shareholdings on Simply Wall St?

I’m thinking that Hydrologiq is more of a consultancy company than an actual manufacturer or supplier of generators and/or fuel cells. Looking at their web site “Hydrologiq-norco”:

https://www.hydrologiq.com/hydrologiq-toolkit/

“We are developing a suite of tools to help us and our customers better understand and assess the viability of hydrogen-powered fuel cell deployments over a wide range of business sizes and types. Built on our proprietary Hydrologiq Engine, they answer key questions surrounding deployment and investment viability, from regulation assessment to service pricing and asset depreciation.”

And I don’t think Norco Energy make fuel cells. Here is a link to their web site:

https://www.norcoenergy.com

So far I haven’t been able to find who makes the generators and fuel cells for this project. But I believe they are PEM fuel cells.

I think the point is that it isn't in PHE's gift to get the Protos FOAK up and running, perhaps that's why they want to build the GTIC so that they can get back into the driving seat.

It's not the wildlife that has held up the building process.