Last checked at 22 Oct 2014 07:00
22 October 2014
PowerHouse Energy Group plc
("PowerHouse" or the "Company")
Update on Munich facility and Thai Partnership
PowerHouse (AIM: PHE) provides the following update in relation to its facility in Munich and its partnership in Thailand.
PowerHouse has begun the initial front-end engineering and design for the commercialisation of its Eiting (Munich) facility. The Company intends to be able to demonstrate un-interrupted commercial operation of the facility by early 2015.
The Company's engineering team has conducted a thorough evaluation of the site and will be moving the existing demonstration facility approximately 500 metres to its new, long-term, location. This process will require the efforts of the entire engineering and commercial team to ensure the move occurs in the time-frame anticipated.
Given the focus on commercialising its existing demonstration facility, the Company will be delaying delivery of a plant to its Thai distribution partner, Waste2Tricity (Thailand), until after the successful completion of the Eiting project. In recent discussions with Powerhouse, W2T(Thailand) has reported growing interest in both the Company's 25 tonne per day units as well as the larger 50 tonne per day modules from an increasing number of hazardous waste handlers in Thailand. The Company will continue to work with its partner to achieve its goals in the region of successfully deploying the PowerHouse technology in the new year.
PK Thummukgool, Director of W2T (Thailand) added, "We remain enthusiastic about the potential market for PowerHouse Energy Group Gasification in Thailand. Our customers are keen to see the success of the commercial operation of the facility in Eiting, Germany."
Executive Chairman, Keith Allaun, stated, "This is a tremendous milestone for PowerHouse. We intend for Eiting to be a customer showcase, operating continuously, and generating significant economic returns for the Company. As the entire team is required for the successful commercialisation in Eiting, the delay in Thailand is an inevitable result. However, W2T (Thailand) is completely supportive of the focus of our resources on the Munich facility and remains a staunchly committed partner of Powerhouse in the ASEA region."
For additional information please contact:
PowerHouse Energy Group plc
Keith Allaun
www.powerhouseenergy.net +44 (0) 20 7079 4407
Allenby Capital Limited (Nominated Adviser and Broker)
Nick Harriss/David Hart +44 (0) 20 3328 5656