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20 May 2025 08:52
20 May 2025
Powerhouse Energy Group Plc
("Powerhouse", "PHE" or the "Company")
Engsolve Trading update
Powerhouse (AIM:PHE), a company pioneering integrated technology that converts non-recyclable waste into low carbon energy together with a revenue generating engineering consulting division (Engsolve), is pleased to announce a trading update for its wholly owned subsidiary, Engsolve.
Engsolve secured contracts worth just over £1 million in the first four months of 2025. The contracts gained are made up of both new and returning clients encompassing work from Front End Engineering Design ("FEED"), Owners Engineer Support, process safety and design, as well as design and build of lab scale and pilot facilities for new technology providers.
The largest of these contracts being:
· FEED for National Hydrogen, which commenced in January and is due to be completed at the end of May 2025
· Owners Engineer Support for Wastefuel of America on a large-scale Bio-Methanol facility
· Design and build of a first of a kind Aluminium Recycling process (confidential client)
· Further support to TrimTabs for the development of their novel Carbon Nano tube process
All the contracts won in the first four months are in addition to ongoing projects, whilst also supporting PHE. Engsolve also has a number of contracts still in negotiation.
These contracts, as well as the strong pipeline that we are seeing for the rest of the year, now necessitate growing the Engsolve team. The Company will be recruiting additional appropriate staff over the coming months.
Paul Emmitt, Chief Executive Officer of Powerhouse, commented:
"This is a fantastic start to the year for Engsolve and proves that there remains a substantial opportunity to grow the business in its own right, as well as a subsidiary of PHE. The fact that we have already secured contracts similar in size to last year's turnover in just the first four months of 2025 is testament to the teams' hard work and professionalism, as well as the growing reputation and expertise of Engsolve.
"It is also very encouraging that new technology developers are seeing the PHE pilot plant and seeking Engsolve services in the development of their technology as well as the building of their own pilot plants.
"We look forward to continuing the growth and will provide further updates in due course."
For more information, contact:
Powerhouse Energy Group Plc
Paul Emmitt, CEO +44 (0) 203 368 6399
Strand Hanson Limited (Nominated & Financial Adviser)
Ritchie Balmer / Rob Patrick +44 (0) 207 409 3494
SP Angel Corporate Finance LLP (Broker)
Stuart Gledhill / Adam Cowl +44 (0) 20 3470 0470
Tavistock (Financial PR)
Simon Hudson / Nick Elwes +44 (0) 207 920 3150
powerhouse@tavistock.co.uk
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended.
About Powerhouse Energy Group Plc
Powerhouse has developed a process technology which can utilise waste plastic, end-of-life-tyres, and other waste streams to convert them efficiently and economically into syngas from which valuable products such as chemical precursors, hydrogen, electricity, heat and other industrial products may be derived. PHE's process produces low levels of safe residues and requires a small operating footprint, making it suitable for deployment at enterprise and community level.
PHE also incorporates Engsolve Ltd, which is a revenue generating business offering Engineering Services across all sectors, with speciality services in the development of new technologies and clean energy.
For more information, see www.phegroup.com and www.engsolve.com
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