TPI provides its latest research note on PowerHouse Energy Group Plc (PHE.L)

Hydrogen Utopia International plc (‘HUI’), Powerhouse’s independent agent for its Distributed Modular Gasification (‘DMG®‘) technology, has announced a potentially far-reaching agreement with Linde AG (‘Linde’, NYSE: LIN).

Coming very shortly after having established a binding exclusivity agreement (the ‘PGH Exclusivity Agreement’) for deployment in Poland, Greece and Hungary, a press release from HUI confirms Linde has finalised the technical feasibility evaluation for a project in Konin, Poland which, when completed, will contain as many as ten DMG® units in one location, helping the city, which was originally built around coal, make a clean energy transition. Representing a significant step forward in Powerhouse’s ambitions to initiate an international roll-out of its technology, being able to partner with what is arguably the global leader in production, processing, storage, distribution and transition to hydrogen, adds considerably to international credibility for its technology to foster decentralised hydrogen utilisation.

Going forward, its relationship and dependence on HUI might be expected to deepen still further. Given that this comes on the back of Group operations having performed strongly during the first half of 2021 despite the impact of the lockdown, and with Peel’s financial closure of the Protos project anticipated during Q4 2021, execution of DMG®’s first application might be expected to commence before year end with activity levels moving into a much higher gear shortly thereafter.

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We would draw your attention to the various disclaimers in the document both at the beginning and at the end of the note. Retail clients (as defined by the rules of the FCA) must not rely on the research document. In particular you should note that the research document is a non-independent marketing communication. The analyst who has prepared the research is aware that TPI provides research to PowerHouse Energy Group Plc. Accordingly the research has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibitions on dealing ahead of its dissemination.

The information in the document is published solely for information purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. The material contained in the document is general information intended for recipients who understand the risks associated with equity investment in smaller companies. It does not constitute a personal recommendation as defined by the FCA or take into account the particular investment objectives, financial situation or needs of individual investors nor provide any indication as to whether an investment, a course of action or the associated risks are suitable for the recipient.

Copyright © 2021 Turner Pope Investments (TPI) Limited, all rights reserved.


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