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The problem is the competency of the current management. Granted they have inherited the issues of previous management, but investors are wholly reliant on these folk to make this happen. I’m not surprised it’s proving difficult to recruit a CEO. At this rate of progress PHE need a magician. Frustrating for investors who desperately want this technology to succeed.
The Peel UK exclusivity was raised at the AGM and it was stated that this was something that PHE would be discussing with Peel to try and break out of it. If so, when how and at what, if any, cost can be added to the news flow queue.
The Peel UK exclusivity was raised at the AGM and it was stated that this was something that PHE would be discussing with Peel to try and break out of it. If so, when how and at what, if any, cost can be added to the news flow queue.
Keith Riley was very clear (at the AGM) when he stated that no work would begin on building the DMG Protos system until mid 2023 and then only if they can decide on which of two engineering contractors are in the frame to build it and also agree and secure the necessary funding. Why these things take so ******g long is a complete mystery to me, but I fear all speculation about sooner timescales is fruitless.
I suspect this will be back down to 1p or less by the end of this month. Absolutely nothing seems to be happening. At the AGM Keith Riley assured us that communication would be better. I also asked Paul Emmit why he did not hold any shares. He said he was heavily involved via his company Engsolve but that's not quite the same us it? I would expect all directors to be shareholders or at least options.
One important quality of the PHE DMG system is that the system only requires external energy to get it started. Once it’s up and running, so to speak, some of the syngas being produced can be used to provide the ongoing energy required to keep it running. The continuous waste plastic feed effectively becomes a fuel as well as a resource.
Can’t get it to work? Outlook not good.
At the AGM I asked Paul Emmitt if the demonstration system at Thornton Science Park had been used much this year and he said it had an very recently too. Mainly for testing different feedstocks for interested parties. Worth noting Paul’s company, Engsolve, has an office at Thornton so is investing resources in developing the system. It was also suggested that the reason for the demo system being relocated is not specific to PHE as there are other future changes to Thornton overall planned.
If you read the report carefully McNair does not refer to the plant as an incinerator but does raise concern about the hydrogen. The protestor quoted still thinks it’s an incinerator though and bangs on about waste being burnt. Seems like everyone needs a lesson about what the proposal is, what the risks are and how any risks are mitigated. Something PHE, Peel and the Glasgow planning dept could address via a community meeting.
7 March 2018
PowerHouse Energy Group plc
(“PowerHouse” or the “Company”)
Share Options Grants to Directors
PowerHouse announces on 6 March 2018 the Company granted share options, as recommended by the Remuneration Committee of the Company, under the Company’s Share Option Schemes to the following Directors:
Brent Fitzpatrick 12,000,000 share options
James Greenstreet 12,000,000 share options
Cameron Davies 15,000,000 share options
David Ryan 21,000,000 share options
Keith Allaun 30,000,000 share options
The options were granted at the closing bid price of the shares on 5 March 2018 of 0.6p and will vest in accordance with the rules of the Share Option Schemes adopted by the PowerHouse Board of Directors over the next 24-30 months.
I’d like to think that one action would be to channel waste plastic in the direction of DMG systems around the globe. Before that we need an action to scoop up all the polluting waste that has entered the environment already. If people see it as a resource rather than waste, perhaps there could be incentives down the line to encourage this.