logo-loader
viewPowerhouse Energy Group PLC

Powerhouse Energy enthusiastic about its prospects

There is a pipeline of 10 more "Plastic Parks" that will be developed by Powerhouse's partner, Peel Environmental

Powerhouse Energy Group PLC -
Planning permission from Cheshire West and Chester Planning committee has been received for the Protos site

Powerhouse Energy Group PLC (LON:PHE), the waste to energy group, has said its DMG technology continues to attract substantial interest internationally.

In its 2019 results statement, the company said it is carefully filtering potential opportunities to engage exclusively with experienced project developers and so maximise its future licensing revenues.

WATCH: Powerhouse Energy CEO updates on commercial development and plans for future rollout

"2019 has been a transformative year for Powerhouse with the first commercial plant using our DMG technology now under development,” said Cameron Davies, the chairman of Powerhouse.

The Protos Energy Park in Cheshire is being developed by Powerhouse’s partner, Peel Environmental, and there is a 10-site pipeline of developments that will follow the Protos template.

The company entered its first commercial contract for revenues in 2019, although the invoices were not settled until 2020, which meant that 2019, like 2018, saw the company report no revenue on its profit & loss account.

The loss before tax narrowed to £1.7mln in 2019 from £2.5mln in 2019.

“It is gratifying to see a British technology company with a truly global application move into its commercial phase while helping to resolve a major problem in today's world, namely the need to reduce the volume of waste plastic and simultaneously producing hydrogen in the community to progress the expansion of the hydrogen economy,” Davies said.

“The board is enthusiastic about the prospects for the business as we move forward with Peel, our exclusive development partner in the UK, and also create a robust sustainable base of international licensing revenue through the establishment of similar relationships with blue-chip industrial partners across multiple overseas markets," the Powerhouse chairman added.

Quick facts: Powerhouse Energy Group PLC

Price: 3.85 GBX

LSE:PHE
Market: LSE
Market Cap: £79.79 m
Follow

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Powerhouse Energy Group PLC named herein, including the promotion by the Company of Powerhouse Energy Group PLC in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Powerhouse Energy CEO updates on commercial development and plans for future...

Powerhouse Energy Group PLC's (LON:PHE) CEO Dave Ryan tells Proactive London's Andrew Scott its DMG technology is continuing to attract substantial interest internationally. The Protos Energy Park in Cheshire is being developed by Powerhouse’s partner, Peel Environmental, and there is a 10-site...

1 week, 1 day ago

2 min read