Wednesday, 9 September 2020
£5 million Placing and Subscription
Grant of Peel Holdings Warrant for 10% of the Company
Powerhouse Energy Group plc (PHE), the UK technology company pioneering hydrogen production from waste plastic, has poked the naysayers in the eye with a dirty stick. There have been two major bones of contention for them; first placing ahoy, major dilution claiming mug investors will be diluted to oblivion, second, there is no commercial DMG, we don't know it works. OK, partly true, though we know the test rig works and it has been independently validated by people that actually know what they are doing...I suggest JakNife looks up DNV GL - it has a history of validating technology for multi $bl corps; thus, one suspects may know a thing or two about validating the technology. It appears 6 years of trashing Powerhouse Energy has resulted in a blinkered POV for the resident troll.
Monday, 24 August 2020
PowerHouse Group - Just a Little Closer to Protos Build
Peel reports successful completion of Engineering Definition phase at Protos.
Powerhouse Energy Group plc (AIM: PHE), the UK technology company pioneering hydrogen production from waste plastic, is pleased to report that Peel L&P (“Peel”) has now completed the Engineering Definition stage of the contractors’ work for the DMG plant at Protos on schedule.
The shares responded with a 15% gain, closing at 3.34p, though 1p shy of 2020 high, which is to be expected and warned of ahead of the merger with Waste2Tricity.
This is, of course, good news and with the weight of the Waste2Tricity merger now also out of the way, the company can look forward to developing Protos. Since my last update, the company issued 1,437,440,277 Ordinary Shares to the Sellers of Waste2Tricity. Application to AIM and trading of which commenced on 15 July 2020. Subsequent to the issue of Ordinary Shares, the Company will have 3,515,100,693 Ordinary Shares in issue with voting rights.
The engineering phase has been undertaken for the overall site and developed for the DMG application to provide a detailed level with the site definition drawings and the procurement packages for equipment and components from suppliers. This will enable the delivery contractors to price their contracts for constructing the plant and the associated on-site buildings.
The engineering work has provided further technical and commercial validation of the DMG technology by international contractors. The completion represents a significant step towards plant construction commencing as planned in Q4 2020 and will facilitate Peel’s progressing to finalising the project financing. In addition, the Company expects the payment of the one-off £500,000 exclusivity fee from Peel L&P Environmental for the exclusive rights to develop the DMG plants in the UK to be completed before the finalisation of project financing.
The progress made towards the commencement of plant construction of Protos, the first of many UK DMG plants envisaged by Peel, augurs well for the Powerhouse business. Each plant completed will not only generate further engineering services work for Powerhouse at the front end and during construction, but would also provide the Company with a substantial ongoing royalty income.
Asset out in the Company’s announcement of its financial results published on 30 June 2020, the Company is managing its working capital position, and its existing cash resources are now expected to be sufficient until into early quarter-four 2020. The Company is in discussions regarding raising further financ,e and it is confident that these will be concluded shortly.
It is planned to hold the Company’s Annual General Meeting in September 2020 by video conference and notification, and full details will be issued to shareholders in due course.
Commenting, David Ryan, CEO of Powerhouse, said:
“I would like to congratulate Peel L&P Environmental on bringing the phase for the DMG plant at Protos to successful completion to their schedule through the lockdown period – this was a significant achievement. The involvement of experienced engineering contractors defining the application at Protos has provided further commercial and technical validation of our DMG technology.
“We are confident that the delivery of this first commercial plant can provide a community based distributed source of hydrogen to further the hydrogen economy in the UK and I welcome today's announcement that in addition to the 11 agreed initial projects Peel envisage the rollout of many more plastic-to-hydrogen facilities across the UK.”
Richard Barker, Director at Peel L&P Environmental, said:
“This FEED phase is an important step forward in delivering this innovative technology at Protos. Working with Powerhouse, we’re creating a blueprint for this UK first plastic-to-hydrogen facility, with plans to roll out many more across the UK. With hydrogen increasingly being seen as an important part of our journey to net-zero the time is now.”
Thursday, 13 February 2020
Those of you paying attention (Zippo and Tidy2) were clearly have not - I took the plunge and bought two tranches of shares in PowerHouse Energy (PHE) late Tuesday afternoon and Wednesday AM. 80% up isn't a bad start. I did so because of the update on Tuesday and the thought of the excitement building up to the March planning approval for the first of a proposed eleven plastic park in Ellesmere Port, which I think is in the first week, perhaps the 5th.
Tuesday, 11 February 2020
PowerHouse Energy Group plc (PHE), the UK technology company pioneering hydrogen production from waste plastic, is pleased to announce that it has entered into a supplemental collaboration agreement with Peel Environmental (part of Peel L&P) (“Peel”) which aims to accelerate the development of the Protos Energy Park and four further DMG® sites in the UK.
PowerHouse also reports the ongoing trialling of the proposed plastic waste stream in the process demonstrator is continuing, with excellent gas production results for the output levels expected; hence today's excellent news.
And what about the share dilution funding all these DMG's? Well, actually, there is no dilution, the funding of each site is not a problem for PowerHouse because there is alternative funding in place, so there will be investor funding requirement.
It should be noted the £500,000 annual licence is in addition to royalties from each DMG.
Tuesday, 14 January 2020
Since I picked PowerHouse Energy PLC (PHE) as one of my picks for 2020, it has put on a little spurt - 35% up. However, I fear the warning on dilution due to the nature of the proposed merger with the consultancy partner, Waste2Tricity (W2T) is being ignored.
Tuesday, 7 January 2020
Grant for DMG Hydrogen from Waste Development at Protos PowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering hydrogen production from waste plastic, is delighted to announce that a grant of £1.25m has been awarded to, Waste2tricity Protos Ltd, for the DMG® Hydrogen from Waste development at Protos, near Ellesmere Port, in Cheshire.
Thursday, 19 December 2019
PowerHouse Energy PLC (PHE) served up a very encouraging announcement today regarding the proposed Protus Energy Park currently being developed by Peel Environmental. There is also a small matter of funding, which appear to be as I have continually reported as 3rd party funding, thus not hugely dilutive placing, which essentially would wipe out investors. I have called it right, the resident naysayers have called it wrong.
Monday, 14 October 2019
Monday, 12 August 2019
Collaboration Contract with Peel Environmental for Eleven DMG® Sites PowerHouse Energy Group (PHE), the UK technology company pioneering hydrogen production from waste plastic, has entered into what could be a very significant agreement for the roll-out of PowerHouses DMGs thermal conversion of carbonaceous organic materials – converting complex molecules to simple, safe molecules.
Previously, Howard White of Waste2Tricity told me funding isn't an issue for the company or PowerHouse shareholders, because the company has a wide range of options, including "project finance, franchises, partner finance and bank loans, all of these are viable options." Furthest away from the table, and perhaps in another building altogether, is death spiral shareholder funding, via rights or placing." This is how the licensing model works and helps reduce dilution, but it can never be said the company may not need to come to the market, it would be foolish to ever rule this out.