Yesterday's AGM. Discussions with Directors Key Info.28 Jun 2024 11:09
Here is a transcript of notes supplied to me by John R. An investor who attended yesterday's #PHE AGM and his discussions with various directors.
### Powerhouse Energy AGM Notes
FTU Profitability
- The FTU (Functional Testing Unit) is projected to generate £500,000 in profit annually. It serves both as a demonstrator and a revenue-generating machine.
Funding and IPO
- United Hydrogen's funding is not contingent on the NH2 IPO.
Business Model
- Powerhouse Energy’s business model focuses on licensing and royalties. They anticipate earning around £1 million per plant per year, with a profit margin of approximately 65%. Royalties are derived from a percentage of sales of hydrogen, power, residue, and overall plant income.
Patent Updates
- The stay on the European patent has been lifted. An additional European patent is expected soon, along with patents in Canada and other regions where the company plans to operate.
Hydrogen Feedstocks
- Two hydrogen feedstock agreements are in place in Ballymena.
Commercial Unit Specifications
- The commercial unit designed for 40 tonnes has a heated length of approximately 11 meters, excluding feed and exit sections. It is triple the size in all directions compared to the current test unit.
- Throughput varies with feedstock type: denser materials like powder or granules yield higher throughput, while low-density materials like shredded plastic yield less.
- The unit operates at 1 RPM but is capable of up to 5 RPM.
Carbon Footprint
- The process captures 60-70% of the carbon in the residue, making the operation overall carbon negative compared to incineration, where carbon is released into the atmosphere.
Mitchell Dryers Equipment
- There is still a possibility of acquiring equipment from Mitchell Dryers, which is in receivership.
Landfill and Shredded Cars
- Powerhouse Energy is capable of processing landfill waste and shredded cars, which are generally undesirable due to their contamination.
Shareholder Communication
- Paul, a member of the board, is not active on the LSE forums but monitors Telegram to guide discussions when necessary. He receives emails from shareholders if the stock price drops by 5%.
Cost Management
- The company is cutting back on expenses and ensuring that every expenditure adds value.
Customer Payments
- Paul insists on securing 50% upfront payment from customers before signing purchase orders to ensure financial stability.
Commitment
- Paul is deeply committed to the success of Powerhouse Energy.
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