Powerhouse Energy Share Discussion Threads

[the stigologist] 08/10/2017 22:49

Dodgy dodgy dodgy

[superg1] 08/10/2017 20:01

Yes dep chair AFC and CEO Stanelco too.

[dolphin158] 08/10/2017 16:58

Until April 2014..

[dolphin158] 08/10/2017 16:56

I note that Ian Balchin was a director of Waste2Tricty Limited for 17 months until April 2017.

[supernumerary] 08/10/2017 13:43

Weirdly, every time I read 'Stanelco', I think of Ian Balchin, the ex-CEO there. I remember him because he was done over to the tune of a million quid by the late unlamented Bazza Muncaster in a patent battle against Meldex. No suggestion Balchin did anything wrong, just bad luck or incompetence to have run up against Munky in his prime.

The battle with Smelldex was because they were both involved in same sort of activity - making plastic films, in both cases trying to minimise animal and/or hydrocarbon inputs - and Smelldex trod on Stanelco's ip. Anyway, eventually Stanelco faded into Biome Technologies and listed on AIM in 2010, since when it seems to have trod water (although with a bit more life recently - some deal for recyclable coffee pods I think).

Of course sg1 will be more familiar with Balchin as a founder director of Versarien, and given Balchin's interest in plastics and vrs's ownership of plastics company AAC Cyroma, I naturally wondered if there was any connection.

Answer, not that I can see (on an admittedly very perfunctory search) but I was amused to note that Balchin has an interest in a company called Tyre Recycling Technologies Ltd. The reason I thought this amusing is of course that the only fuel the PHE incinerator seems to be able to process is tyre crumb.

Incidentally, the other director of Tyre Recycling Technologies is David John Marson, who is an ex-director of AFC Energy Ltd. Small world, isn't it?

Edit: just spotted that Balchin is an ex-AFC man too. When I have more time, I might look more deeply into some of these connections.

[superg1] 08/10/2017 09:29

The article to show his sons connection was not known to the market.

[superg1] 08/10/2017 09:22

Scrutable good point and it answers a question Dolphin asked.

A Ben White had appeared as in his post

"There is also a Ben White, is this a relation of Howard White?"

The answer is within what you just raised.

"It has now emerged that Ben White, a director of Isracaps, is the son of Stanelco executive director Howard White. Ben White is also the sole beneficiary of The Age of Reason Foundation which owns 230 million Stanelco shares equivalent to 33% of the £33.4 million company."

I can't help my view re this company having read up a bit. There has been apparent lies and deception before.

Wording since the Pyromex crash is no different. Talk of simple efficiencies delaying the 30 day forecast which turned into 18 months, at which point they identified signicant issues to sort. In other words they misled the market all the way.

Now up pop the deals which appear incestuous to some extent.

[scrutable] 08/10/2017 00:45

a Howard White has form as a director (group MD,- if I remember in 2006) of Stanelco, with which I lost a substantial investment, and is now resurrected as Biome {?}It had an analogous history to PHE, over three years of always raising hope and money and being just close to success with a packaging machine using compostible film but finally went bust. I have merciful amnesia over the details but the name spells a warning to me of a barge pole one should not touch.

[superg1] 04/10/2017 13:41

Deccer Dolphin and others.

Are you all the same person with different avatars. You just seem to arrive and leave together.

[superg1] 04/10/2017 08:41

Just for info

If you try to go into the ENE website home page (Qatar news) then it's won't open in a link, but if you go in via the info pages then you can see the about us and contact page.

It's a very bare website.




this one comes up for me that it can't be found.

[superg1] 04/10/2017 07:15

Dolphin

The PHE Americas looked dodgy to me just to meet the lion note 12 month rule.

Now one has to wonder is the Qatar deal is Howard While connected and there will soon be some Africa news etc for the same reason.

I'm sorry but just reading PHE makes it look like a con and as more info pops up it just seems to underline that for me.

EG

I thought I'd take a look at the risks section in the annual report and YE reports.

The only risk listed is about whether it can raise cash or not to keep going.

NO warnings about risks of the tech. No warnings about risks of current or future competitive technologies.

Risk listings are supposed to be comprehensive and they are virtually non existent.

Equally I see nothing but hype in news until it goes wrong at which point they mention issues which were Cray in play while it was being pumped by them.

I really do think this is a high risk play. The comfy has missed the market before and there is no reason to doubt that it is doing it again.

Why TW tipped this defeats me it's full of their typical red flags.

[supernumerary] 03/10/2017 22:47

I do hope Private Eye doesn't get hold of all this. I may be wrong but I don't think Ian Hislop is a great fan of capitalism red in tooth and claw...

[dolphin158] 03/10/2017 22:21

The second company is CLEAN ENERGY SOLUTIONS AFRICA LIMITED, no.10710645, incorporated on 5/4/17.

There are four initial directors who all equally own 2,500 shares in this £100 share capital company.

Two directors are the same as above, Tim Yeo and Simon Francis Mann.

There is also a Ben White, is this a relation of Howard White?

Lastly, there is David John Ryan, a director at Waste2Tricty Limited since September 2016 and a director at PHE since February 2017.

[dolphin158] 03/10/2017 22:13

Two other new companies have been registered at Companies House;

CLEAN ENERGY SOLUTIONS AFRICA (HOLDINGS) LIMITED, no.10903575, incorporated on 7/8/17.

This £3 share capital company has three initial directors who also each own one share.

The directors are Howard White who founded AFC Energy PLC and is also a director and shareholder of Waste2Tricity Limited.

Another director is Tim Yeo, the former conservative MP who was a director Waste2Tricity Ltd for just under two years until September 2010. He is also a director at AFC Energy PLC since 2006, having previously been chairman and since June 2017 a non-executive director.

The third director is Simon Francis Mann, born June 1952. Is this the same Simon Francis Mann listed on Wikipedia as " a British mercenary and former British Army officer" who specialises in sub-Saharan Africa? Both were born in June 1952.

[dolphin158] 03/10/2017 20:59

Additional information from Companies House;

Howard White is also a director and subscriber shareholder of British registered company, CRANWOOD MANAGEMENT (QATAR) LIMITED, company number 10468049, incorporated on 08/11/16.

In addition, the other director and equal shareholder in this £100 share capital company is Qatari, Majid Almahmoud A Z Al-Mahmoud.

Is there any trade connection between this company and the recent announcement on 20/09/17 of the MOU in Qatar for the 2022 FIFA World Cup? The RNS also disclosed "PowerHouse will grant the JV company an exclusive licence for the use of its G3-UHt DMG© technology in Qatar, within the scope of operation of the project."

Also disclosed in the same RNS was "This project was conceived, and is being coordinated, by Waste2tricity Ltd in conjunction with PowerHouse."

[dolphin158] 03/10/2017 20:35

On 17/05/16 the company announced that Clive Carver was appointed as anon-excutive director and welcomed him "with Mr. Carver’s knowledge, expertise and vast experience in the market join the PowerHouse Board of Directors will have a positive impact on the Company".

One year later, on 22/05/17 the company " announces the resignation of Clive Carver as Non-Executive Director with immediate effect." No other explanation for his sudden departure.

On 22/08/17 the company "announce the appointment of Dr Cameron Davies as Non-Executive Chairman of the Company" and joined on 3/10/17.

Oh what a small world it is as Dr Davies is a director of Ascent Resources Plc, an oil and gas exploration company trading on AIM. Another director of Ascent is Clive Carver.

[deccer1] 03/10/2017 11:55

Where now?

[superg1] 03/10/2017 06:55

I can't see any obvious announcement that they we're going to leave AUS other then the shipment of the unit to the UK with no real explanation.

However on arrival and rebuild

31st July

"Through this period a number of improvements and modifications to the G3-UHt system have been made, ahead of the scaling up necessary for commercial deployment. These have
included the enhancement of the gas systems, refurbishment of the feed and
steam generation systems"

"Following an extensive pre-commissioning programme, the 24 hour commission
testing this weekend used tyre crumb as the input feedstock and produced a
robust stream of syngas which was safely flared to the atmosphere."

The in August it looks like it was run for a week and stripped down to check each part, update awaited.

[superg1] 03/10/2017 06:32

This seems misleading too 5th Sept 2016.

To me it gives the impression the system has run for several months which doesn't seem to be the case.

28th April they said they had identified some modifications needed. They add they would update the market when final testing sorted.

News 25th May re the deal but no update re the unit.

30th June

"however the engineering team persevered and has now completed a fully functional, nominal 2-5 tonne per day (tpd), system which is being demonstrated in Brisbane, Australia."


5th September.

30th June they suggest finally completed and around 9 weeks later they give the impression it has been tested for several months?

They then say the nominal 1-3 tonne unit as designed when all along right up until that point they called it a 2-5 bpd unit ???

So how can it be aid to be operating "as designed" at 1-3 bpd when the design was quite clearly for 2-5 bpd. No mention of the large percentage drop in its capability v what they said they were building.


"This is a significant milestone for the Company, " said Keith Allaun,
Executive Chairman of PowerHouse. "We've been stress-testing all components of
the G3, in a discrete and focused manner, over the past several months. Based
upon our most recent operation of the complete system, we've reached the point
that we can declare the successful conclusion of our formal testing program."

The PowerHouse Energy Group ultra-high temperature gasification reactor testing
program has utilized feedstock which has included both shredded plastic and
tyre crumble, and has successfully cycled the system repeatedly. The nominal
1-3 tonne per day (TPD) G3 unit has continued to operate as designed; gasifying
the feedstock at temperatures above 1100 degrees Centigrade, generating
synthesis gas (syngas), and cleaning and cooling the syngas, which can then be
used for electrical generation or other fuel creation.

[superg1] 03/10/2017 05:44

That loan note

On 26 June 2015, Hillgrove provided a letter of comfort to the Company confirming that it is willing to continue to provide adequate financial support to PowerHouse to ensure the Company may meet its legitimate obligations as and when they fall due, and to ensure it operates as a going concern for a period of at least twelve months from 30 June 2015, pending any unforeseeable or material changes to the Company's current circumstances.

"new conditions to the Convertible Loan Agreement:"

"-- Powerhouse must complete relevant commercial negotiations, demonstrated by signed contracts, so as at least one commercial Waste-to-Energy project is commenced within the next 12 months."

Just 1 month inside that date PHE come up with deal with PHE. An old founder member of PHE David Moard.

How convenient was that?

However the loan note deal does say

"at least one commercial Waste-to-Energy project is commenced within the next 12 months."

So does the signing of the deal count as commencement of a project.

[superg1] 03/10/2017 04:47

Lagos

I can't help it, it's been pushed my way so I'm simply picking though the bits and piece to understand it and the more I read the more negative I become.

I'll pick out some bits and you will see why. As far as I can see it's not proven at all and the most recent news tends to back that up due to the constant changes of the tech.

Also some lines of old which put questions over deals.

[lagosboy] 02/10/2017 13:01

Bond is also an old chum of KA, they worked together back in Aussie at Linc Energy - now bust and in administration.

Why would Bond cash in at face value a large chunk of his convertible debt accruing interest at 15%- sure its onerous for Phe but you don't walk away from convertible debt if the commercial prospects are so good.

I think superg1 is absolutely spot on with his analysis and I share his views.

As for the Warwick bloke- he posts day in, day out hourly nonsense about Phe which is very odd for a 10% shareholder.

only a matter of time before Phe is gasified into oblivion for my money.