PowerHouse Energy Group - Strengthening relationship with Peel Environmental
PowerHouse continues to work with Peel Environmental on the first commercial deployment of its proprietary waste plastic to hydrogen regeneration technology. Peel is currently finalising funding for the first site, which is in Cheshire, and is selecting the sites for follow-on projects in the UK. PowerHouse is providing engineering support for the initial project and expects to receive further fees for this work later this month. Management expects that fees for engineering services will be sufficient to cover operating costs until Q420, by which time it expects to have received the £500k UK exclusivity payment from Peel. The exclusivity payment is conditional on PowerHouse completing the acquisition of Waste2Tricity. Management anticipates that the circular relating to the acquisition will be issued in June. The current cash balance is c £280k.Powerhouse Energy Group is engaged in the development of the PHE G3-UHt Waste-to-Energy System in order to achieve its full commercial roll-out. The system's gasification reactor converts waste materials such as non-recyclable plastic, biomass, and other waste streams into a synthesis gas composed primarily of hydrogen and carbon monoxide.
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