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

PowerHouse’s Board has confirmed that it is not aware of any material basis for the more than doubling of its share price over the past week.

That said, significant operational progress is being delivered with the Waste2Tricity (‘W2T’) due diligence now near completion while the Protos project proceeds under Peel L&P (‘Peel’) direction.

Meanwhile, heightened investor focus on such environmentally friendly sources of energy and the opportunity they present to deliver significant, commercial returns, has seen UK peers like ITM Power and Ceres Power Holdings undergo similar re-ratings since the Pandemic got underway.

Committed cash inflows in coming months are also seen bolstering PowerHouse’s weak balance sheet sufficient to provide a runway out to Q4 2020, while further revenues are expected from operations and the exclusivity payment from the Peel option agreement.

Announcements relating to the next projects with Peel are anticipated in the second half of 2020 and agreements with additional international development partners are being actively pursued.

The Company expects to report its full-year results to end December 2019 by the end of this month, when it will further outline progress, strategy, planning and opportunity going forward.

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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 © 2020 Turner Pope Investments (TPI) Limited, all rights reserved.

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