Powerhouse Energy shares soar on DMG process interest
By Iain Gilbert
Date: Friday 15 Feb 2019
(Sharecast News) - Clean energy technology outfit Powerhouse Energy shares rose sharply on Friday as the company said it saw a significant increase in interest of its waste-to-hydrogen DMG process.
Powerhouse said most of the interest expressed comprised of specific enquiries taken through a screening process prior to formal proposals.
As a result, the AIM-listed group stated it was progressing a "number of potential deals" and said it was confident one of these talks would result in a final contract for its first commercial DMG - which can utilise waste plastic, end-of-life-tyres, and other waste streams to efficiently and economically convert them into syngas from which valuable products such as chemical precursors, hydrogen, electricity and other industrial products may be derived.
Powerhouse also said it had received "strong expressions of interest" from more than a dozen site owners who had stated their interest in establishing DMG units on their sites once its first unit was proven operationally.
Chief executive David Ryan said: "Considerable progress has been made in terms of us maturing negotiations towards final contract stage and in dealing with the substantial increase in commercial leads.
"I am confident that we will sign heads of terms with at least one of these in the next quarter."
As of 0840 GMT, Powerhouse shares had soared 15.14% to 0.43p.
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