19th Jun 2024 14:51
(Alliance News) - Powerhouse Energy Group PLC on Wednesday saw its shares rise, after announcing the delivery of a kiln to the Bridgend Technical centre.
According to the Bingley, England-based non-recyclable waste-to-energy conversion company, the kiln was supplied by AGICO Group of China, and was delivered on schedule and on budget.
The arrival of the kiln, which is the centrepiece of Bridgend's Feedstock Testing Unit, enables work to begin on the installation of the ancillary equipment. Installation will be carried out by Engsolve, with commissioning and testing being undertaken by the Powerhouse Energy research & development team.
The FTU has been designed with the capacity to transform 2.5 tonnes per day of waste into Syngas, and is a reduced size version of the proposed commercial process. It will initially be used for research & development, and investor and customer demonstrations.
Powerhouse Energy remains focused on completing the installation and commissioning work in the fourth quarter.
"This is a huge milestone for Powerhouse and draws a line under our past vendor issues. The progress that the Powerhouse Team as a whole (PHE and Engsolve) have made in the last six months is exceptional. The progress on the technology centre and the FTU means that we can not only return to our goal of progressing our R&D activities, but this will provide us with a showcase for our patented technology allowing us to drive forward the rollout of our process," said Chief Executive Officer Paul Emmitt.
Shares in Powerhouse Energy were trading 6.6% higher at 1.60 pence each in London on Wednesday afternoon.
By Holly Beveridge, Alliance News senior reporter
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