16
April 2024
Powerhouse Energy Group
plc
("Powerhouse", "PHE" or the "Company")
Technical Centre
Update
Powerhouse Energy Group plc (AIM: PHE), a
company pioneering integrated technology that converts
non-recyclable waste into low carbon energy, is pleased to announce
that the manufacturing of the 2.5 tonne per day kiln for the
Feedstock Testing Unit (FTU) has been completed. The Powerhouse
designed kiln, which has been manufactured by AGICO of China, is
now being shipped to the Company's Technical Centre in Bridgend,
having left AGICO facility on 15 April, to meet the shipping vessel
on 29 April 2024.
AGICO was chosen to provide the kiln after much
research, and an independent verification of their facilities,
processes, and workmanship by SGS Société Générale de Surveillance
SA (SGS). The Company also utilised the services of SGS to oversee
packing and preparation for shipment. Shipping is expected to take
approximately 45 days to reach the Technical Centre, following
which installation will occur.
PHE has also placed orders for the Gas cleaning
system (from VUM Gmbh of Germany), Gas analysing system (from ABB
Ltd) and all other major ancillary equipment required to complete
the installation process. Work has continued within the facility
and a new ventilation system has been installed and commissioned.
In addition, the feedstock delivery system is in an advanced state
of design. The team is also working to improve on the stated Q4
2024 date for operational delivery of the FTU.
Powerhouse looks forward to being
able to open the Technical Centre to our investors and clients and
will provide further updates in due course.
Paul Emmitt,
Chief Executive Officer of PHE, commented:
"This is a huge milestone for
Powerhouse, and we delighted to have achieved this given the issues
and delays caused by the liquidation of our previous supplier
Mitchel Dryers Kingmoor. We are looking
forward to the completion of the FTU towards the end of the year
which will allow us to accelerate the development of commercial applications for our
technology.
"I would thank our shareholders for
their patience as this has been a long time coming and look forward
to providing further updates in due course."
This announcement contains inside information for the purposes
of the UK version of the market abuse regulation (EU No. 596/2014)
as it forms part of United Kingdom domestic law by virtue of the
European Union (Withdrawal) Act 2018, as amended.
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For more
information, contact:
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Powerhouse
Energy Group plc
Paul Emmitt
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+44 (0) 203 368 6399
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Strand Hanson
Limited (Nominated & Financial Adviser)
Ritchie Balmer
James Harris
Rob Patrick
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+44 (0) 207 409 3494
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Turner Pope
Investments (TPI) Ltd (Broker)
Andrew Thacker
James Pope
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+44 (0) 203 657 0050
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Tavistock
(Financial PR)
Simon Hudson
Nick Elwes
Saskia Sizen
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powerhouse@tavistock.co.uk
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About
Powerhouse Energy Group plc
Powerhouse Energy has developed a
process technology which can utilise waste plastic,
end-of-life-tyres, and other waste streams to convert them
efficiently and economically into syngas from which valuable
products such as chemical precursors, hydrogen, electricity, heat
and other industrial products may be derived.
Powerhouse Energy's process produces
low levels of safe residues and requires a small operating
footprint, making it suitable for deployment at enterprise and
community level.
Powerhouse Energy Group also
incorporates Engsolve Ltd, who offer Engineering Services across
all sectors with speciality services in the development of new
technologies and clean energy.
Powerhouse Energy is quoted on the
London Stock Exchange's AIM Market under the ticker: PHE and is
incorporated in England and Wales.
For more information see www.phegroup.com