LONDON (ShareCast) - (ShareCast News) - Ultra-high temperature gasification waste-to-energy systems provider PowerHouse Energy Group announced a collaboration agreement with an unnamed UK partner involved in the development of energy and waste projects on Monday.
The AIM-traded company said that, subject to achieving certain performance milestones of the G3-UHt demonstration unit sited at Thornton Science Park and to entering into an option to lease land to site the units, the partner committed two tranches of funding of up to £0.5m in aggregate to meet the cost of preparing and funding applications for planning permission and environmental permits of the initial demonstration unit and first five PHE waste-to-energy G3-UHt systems.

It said the agreement would require PowerHouse to supply five systems at locations of the partner's choosing on a prioritised basis, based upon the completion of UK certifications and demonstration of the G3-UHt unit in active operation.

"It is gratifying and reassuring to have attracted a significant and large corporate partner to work with PHE and Waste2tricity Ltd in rolling out Distributed Modular Gasification in the UK," said executive chairman Keith Allaun.

"DMG systems allow for the environmentally responsible conversion of waste into electricity and the creation of distributed hydrogen for commercial uses."

Allaun said the agreement marked a "turning point" in the commercial development of the company.

"Our engineering team continues to meet its objectives and we look forward to the public demonstration of the G3-UHt system in the coming period."

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