Powerhouse mechanically completes feedstock testing unit
By Josh White
Date: Monday 16 Dec 2024
(Sharecast News) - Powerhouse Energy Group announced the mechanical completion of its feedstock testing unit (FTU) on Monday, a key milestone in the development of its proprietary DMG Technology, which converts non-recyclable waste into low-carbon energy.
The AIM-traded company said the project was delivered on schedule and within budget, with all equipment now installed and operating under 'cold' commissioning conditions.
It said the FTU served as a central component of Powerhouse's strategy to position itself as a leading technology developer, and would provide a practical demonstration platform for its waste-to-energy innovations.
The board said the next phase, 'hot' commissioning and testing, would begin in January and was expected to continue throughout the month.
Powerhouse said it was planning to host open days in late February to showcase the FTU and its DMG Technology to stakeholders.
The board added that the development marked a significant step forward for the company, which also operates a revenue-generating engineering consultancy division, Engsolve, as part of its integrated business model.
"The FTU has been something that I have championed since my involvement with PHE," said chief executive officer Paul Emmitt.
"Whilst we have had setbacks with our prior intended kiln manufacturer, we have overcome them to provide something tangible - an innovative facility that will allow us to showcase the DMG technology as well as our technical [and] engineering expertise as a group as we look to deliver our vision for our shareholders.
"This year has been an eventful one. We have resolved our patent challenge, and had grant of UK, European and Japanese patents, we have signed an agreement with National Hydrogen of Australia and have now delivered mechanical completion of the FTU."
Emmitt said early 2025 would see the company "hot commission" and test the FTU, while opening the doors to showcase its technology to investors as well as clients and potential clients.
"We will also deliver the FEED for National Hydrogen, whilst further developing both the PHE and Engsolve offerings.
"There are also a number of old business opportunities to revisit as well as new ones to pursue for the team."
At 1232 GMT, shares in Powerhouse Energy Group were up 10.98% at 1.19p.
Reporting by Josh White for Sharecast.com.
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