Powerhouse Energy Group Plc (AIM: PHE), a company pioneering integrated technology that converts non-recyclable waste into low carbon energy with a revenue generating engineering consulting division ("Engsolve"), is pleased to provide the following update ahead of its AGM which is being held today.
H1 2025 Highlights / Developments:
· Technical centre and Feedstock Testing Unit ("FTU") fully operational
· Front-End Engineering Design (FEED) completed by Engsolve for National Hydrogen, Australia
· Proposed collaboration with Avioxx on the potential of the 2.5TPD unit (the same size as the FTU) to generate a syngas suitable for SAF production
· Letter of Intent signed for Hydrogen offtake for Ballymena with B.S. Holdings Limited
· Over 25 contacts post Capital Markets Day, held in March, screened down to 16 feasible opportunities
· Fundraise of £1.375 million, further strengthening the Company's balance sheet
· Engsolve secured contracts of more than £1 million in first four months of 2025
· Further patents granted in the US and Europe for the Company's technology
· Land option agreement for potential Longford project expired, meaning no further resource or finance required to be committed to potential project
Initiatives for H2 2025:
· Further progress on pipeline of opportunities including Ballymena expected
· Decision taken to market the 2.5TPD DMG units (the same size as the FTU) as a product
· Increased marketing of the Company and its technology
· Set up "agents" on a no win no fee basis to increase the Company's global reach
· Increasing support of Altec to pursue further opportunities in Thailand
At the AGM, Paul Emmitt, CEO, will give a presentation which will be made available on the Company's website this afternoon. |
