Last checked at 30 Mar 2016 07:00
POWERHOUSE ENERGY GROUP PLC - Update on PHE G3 UHt SystemPOWERHOUSE ENERGY GROUP PLC - Update on PHE G3 UHt System
PR Newswire
London, March 29
30 March 2016
PowerHouse Energy Group plc
(“PowerHouse” or the “Company”)
Update on PHE G3 UHt System
The Company wishes to announce that there have been scheduling delays in finalising the testing program for its newly designed PHE G3 UHt system. Component testing was completed in a timely manner, however completion of full system functionality has not yet been achieved.
A few, minor, technical issues have been identified and fully resolved through the testing program. However, scheduling of the final “stress testing” and the collection of system-wide engineering data, mass/energy balance, and complete system efficiency has yet to be demonstrated. Based upon the success of component testing to date, short-term testing of the overall system, and repeated cycling of the high-temperature unit, it is not expected that any substantive technical issues will arise during the final testing.
Initiation of final testing of the system is expected during April. Completion of final testing will allow the Company to move to the next phase of data collection and analysis of multiple feed-stocks, including Auto Shredder Residue (ASR), and provide the Company with information necessary to successfully enter the market with the PHE G3-UHt design. The Company will update the market upon the completion of final testing.
For additional information please contact:
PowerHouse Energy Group plcKeith Allaun +1 352 359 0911
Allenby Capital Limited (Nominated Adviser and Joint Broker)Nick Harriss / David Hart / Liz Kirchner +44 (0) 20 3328 5656
Vicarage Capital Limited (Joint Broker)Jeremy Woodgate +44 (0) 20 3651 2910