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.
Paul Emmitt, Chief Executive Officer of PHE, commented:
“We have been delighted with the progress that the Company has made in the first half of the year. We have seen a very significant uptick in interest following the completion of the FTU and our CMD whilst also advancing our key projects. It has also been particularly pleasing to see the excellent performance from Engsolve which we expect to continue into the second half of the year.
We are already implementing several initiatives which we fully expect to continue to drive our business forward in the second half of the year and look forward to providing further updates as these come to develop.
Finally, I would like to take this opportunity to thank all our staff for their hard work and all our shareholders for their continued support.”
For more information, contact
Powerhouse Energy Group Plc
Paul Emmitt, CEO +44 (0) 203 368 6399
Ben Brier, CFO +44 (0) 203 368 6399
