26th Mar 2014 13:35
LONDON (Alliance News) - PowerHouse Energy Group PLC Wednesday said it has signed a letter of intent with a Polish group for the use of its technology in the medical waste industry.
The alternative energy technology company said its subsidiary Pyromex AG was offered to provide its five tonne per day Ultra High Temperature Gasifier for use in the disposal of medical waste.
PowerHouse said it is encouraged by the decision as it is estimated that the global medical waste market will have a value of USD10.3 billion by 2018.
The company said the non-binding letter of intent is subject to certain conditions including regulatory approvals and financing.
PowerHouse Energy also said it has been making good progress in negotiations with multi-national corporations with multi-unit sales opportunities, and has begun the redesign of its Munich 25 tonnes per day facility with commercial operations expected to begin in 2015.
PowerHouse Energy shares were up 9.1% to 3.00 pence Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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