Last checked at 16 Apr 2024 07:00
16 April 2024
Powerhouse Energy Group plc
("Powerhouse", "PHE" or the "Company")
Technical Centre Update
Powerhouse Energy Group plc (AIM: PHE), a company pioneering integrated technology that converts non-recyclable waste into low carbon energy, is pleased to announce that the manufacturing of the 2.5 tonne per day kiln for the Feedstock Testing Unit (FTU) has been completed. The Powerhouse designed kiln, which has been manufactured by AGICO of China, is now being shipped to the Company's Technical Centre in Bridgend, having left AGICO facility on 15 April, to meet the shipping vessel on 29 April 2024.
AGICO was chosen to provide the kiln after much research, and an independent verification of their facilities, processes, and workmanship by SGS Société Générale de Surveillance SA (SGS). The Company also utilised the services of SGS to oversee packing and preparation for shipment. Shipping is expected to take approximately 45 days to reach the Technical Centre, following which installation will occur.
PHE has also placed orders for the Gas cleaning system (from VUM Gmbh of Germany), Gas analysing system (from ABB Ltd) and all other major ancillary equipment required to complete the installation process. Work has continued within the facility and a new ventilation system has been installed and commissioned. In addition, the feedstock delivery system is in an advanced state of design. The team is also working to improve on the stated Q4 2024 date for operational delivery of the FTU.
Powerhouse looks forward to being able to open the Technical Centre to our investors and clients and will provide further updates in due course.
Paul Emmitt, Chief Executive Officer of PHE, commented:
"This is a huge milestone for Powerhouse, and we delighted to have achieved this given the issues and delays caused by the liquidation of our previous supplier Mitchel Dryers Kingmoor. We are looking forward to the completion of the FTU towards the end of the year which will allow us to accelerate the development of commercial applications for our technology.
"I would thank our shareholders for their patience as this has been a long time coming and look forward to providing further updates in due course."
This announcement contains inside information for the purposes of the UK version of 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.
For more information, contact: | |
| |
Powerhouse Energy Group plc Paul Emmitt
| +44 (0) 203 368 6399 |
Strand Hanson Limited (Nominated & Financial Adviser) Ritchie Balmer James Harris Rob Patrick
| +44 (0) 207 409 3494 |
Turner Pope Investments (TPI) Ltd (Broker) Andrew Thacker James Pope
| +44 (0) 203 657 0050 |
Tavistock (Financial PR) Simon Hudson Nick Elwes Saskia Sizen | powerhouse@tavistock.co.uk
|
About Powerhouse Energy Group plc
Powerhouse Energy 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.
Powerhouse Energy's process produces low levels of safe residues and requires a small operating footprint, making it suitable for deployment at enterprise and community level.
Powerhouse Energy Group also incorporates Engsolve Ltd, who offer Engineering Services across all sectors with speciality services in the development of new technologies and clean energy.
Powerhouse Energy is quoted on the London Stock Exchange's AIM Market under the ticker: PHE and is incorporated in England and Wales.
For more information see www.phegroup.com