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PHE Powerhouse Energy Group Plc

1.05
-0.05 (-4.55%)
Last Updated: 09:55:06
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Powerhouse Energy Group Plc LSE:PHE London Ordinary Share GB00B4WQVY43 ORD 0.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.05 -4.55% 1.05 1.00 1.10 1.05 1.025 1.05 4,140,507 09:55:06
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Scrap & Waste Materials-whsl 380k -46.2M -0.0111 -0.95 43.65M

POWERHOUSE ENERGY GROUP PLC - Completion of Pre-FEED of Commercial DMG© System

22/11/2017 7:00am

PR Newswire (US)


Powerhouse Energy (LSE:PHE)
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PowerHouse Energy Group plc
(“PowerHouse” or the “Company”)

Completion of Pre-FEED of Commercial DMG© System

PowerHouse Energy Group plc (AIM: PHE), the UK waste-to-hydrogen pioneer, has reached its first major milestone in the engineering design of its nominal 25 tonne-per-day commercial Distributed Modular Gasification (DMG©) system with the completion of the pre-Front-end Engineering and Design (pre-FEED) stage.

The pre-FEED stage of the engineering programme has validated the Company’s DMG© technology and its ability to deliver commercial quantities of high-grade synthesis gas (syngas) for use as a fuel, for electrical production, and for the extraction of 99.999% road-fuel-quality hydrogen. It was completed in conjunction with consulting engineer Engsolve Ltd (“EngSolve”) and met the Company’s previously announced milestone targets in terms of commercial build and delivery. 

Following completion of the pre-FEED stage, the Company will now move into the Basic Engineering Program and Front-end Design and Engineering (FEED), which will finalise selection of vendors for provision of various components of the DMG© system and optimise the design schema for the first commercial site.

The DMG© system is compact and scalable and has the potential to recover up to 97% of the embodied energy in multiple waste sources, such as used tyres, plastics, and other industrial and municipal wastes, with negligible greenhouse gas emissions.

PowerHouse, in conjunction with Peel Environmental (“Peel”) with whom the Company previously announced an MOU regarding the Protos facility, along with development partner, Waste2tricity Ltd, has identified five commercially attractive sites in the UK for initial DMG© rollout. Two of these sites have been shortlisted for immediate exploitation, with final evaluation now under way.  When initial site selection is confirmed, we intend to complete  negotiations for long-term private wire power-purchase and feedstock supply contracts.  

Keith Allaun, CEO of Powerhouse Energy, commented:

“The tremendous work done to date at the Thornton Science Park, Chester, with the PHE G3 demonstration unit has delivered the fundamental data necessary for us to achieve this important engineering milestone announced today. We will continue to derive additional data from running the G3 unit over the coming months to expand our knowledge-base and ensure we continue to maximise our results.

“The EngSolve engineering team has done an excellent job incorporating the test results and the accumulated data into this cutting-edge process design. The completed pre-FEED work will inform every subsequent step in our commercial design and will ensure that we’re able to maintain the pace of delivery of the DMG© system.”

For more information, contact:

PowerHouse Energy Group plc
Keith Allaun, Executive Chairman
Tel: +44 (0) 203 368 6399
WH Ireland Limited (Nominated Adviser)
James Joyce / Alex Bond
Tel: +44 (0) 207 220 1666
Turner Pope Investments Ltd (Broker)
Ben Turner / James Pope
Tel: +44 (0) 203 621 4120
Buchanan (Media enquiries)
Mark Court
Tel: +44 (0) 20 7466 5000

About PowerHouse Energy

PowerHouse Energy Group plc is the developer of the G3-UHt Ultra High Temperature Gasification unit, and the creator of DMG©, the Distributed Modular, Gasification System which allows for the distributed eradication of waste, the generation of distributed electricity, and the production of distributed hydrogen with the world’s first hydrogen from waste process (HfW).

The Company is focused on technologies to enable projects for energy recovery from municipal and industrial waste streams that would otherwise be directed to landfills and incinerators; or from renewable and alternative fuels such as biomass, tyres, and plastics to create synthesis gas (syngas) for power generation, or high-quality hydrogen as a fuel for transport. DMG© allows for easy, economical, deployment and scaling of an environmentally sound solution to the growing challenges of waste eradication, landfill diversion, electrical demand, and distributed hydrogen production.

PowerHouse is quoted on the London Stock Exchange's AIM Market. The Company is incorporated in the United Kingdom.

For more information see www.powerhouseenenergy.net

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