LONDON (ShareCast) - (Sharecast News) - UK technology firm Powerhouse Energy on Wednesday has branded reports that University of Chester's Thornton Science Park faces closure by Cheshire West and Chester Council as "inaccurate".
The AIM-traded company said it has received written confirmation from the chief executive of Thornton Science Park that a recent decision by the council's planning committee does not relate to facilities associated with the company's research and demonstration unit.

As such, Powerhouse said it does not face any foreseeable disruption in its operations at the site.

Keith Allaun, chief executive of PowerHouse Energy Group, stated: "Our engineering operations continue unabated as we move to completion of our commercial design on a daily basis - supported by the empirical data we continue to accumulate though our testing regime - which will continue for the foreseeable future at the Energy Centre."

The company said it will therefore continue to actively engage in its extensive test engineering of native and mixed plastic feed-stock in support of the commercial design effort currently under way.

"The University intended for there to be tremendous synergy between itself and the tenants of the Energy Centre. We're confident that such synergy and mutual support will continue between PowerHouse and the Centre," said Allaun.

As of 1604 BST, Powerhouse Energy's shares were up 7.78% at 0.49p.

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