Powerhouse Energy Group PLC (AIM: PHE) said the second half of 2026 could be its most significant yet, with its Ballymena project and National Hydrogen framework moving towards key investment and commercial milestones.
At Ballymena in Northern Ireland, the site has been secured and a planning application submitted. Discussions are continuing around waste supply, hydrogen offtake and project financing, with a planning decision still awaited.
Powerhouse is also progressing its five-year framework agreement with National Hydrogen, now operating through National Waste 2 Energy, covering potential licensing projects in Australia, Italy, Switzerland and Hong Kong.
The projects support Powerhouse’s strategy of generating income primarily through technology licensing fees and royalties, rather than owning and operating plants directly. Ballymena is an exception, with the company prepared to raise project finance itself.
First-half revenue slipped to £437,100 from £474,900, although Powerhouse recorded £379,100 of direct third-party waste-testing revenue from its technology centre, establishing a new income stream alongside its Engsolve engineering business.
Gross profit increased slightly to £199,900, while cash stood at £1.42 million at the end of June. The company raised £1.3 million through two fundraisings during the period to support operating costs and project development.
Powerhouse also said patents have now been granted across 12 regions, including Europe, the US, Australia and parts of Asia, strengthening protection around its waste-to-hydrogen technology.
Leadership has also changed, with David Hitchcock becoming interim executive chairman following the departure of chief executive Paul Emmitt. A search for a permanent CEO is under way.
For investors, the next major catalysts are Ballymena planning and financing progress, binding commercial agreements around waste supply and hydrogen offtake, and conversion of the National Hydrogen framework into individual licensed projects. The main near-term risk remains execution and funding, with several projects still dependent on approvals, counterparties and investment decisions before they can generate meaningful recurring revenue.
