PowerHouse Energy releases positive feasibility report

15th Jul 2022 13:36

(Sharecast News) - Waste-to-hydrogen technology company PowerHouse Energy Group updated the market on an independent 'statement of feasibility' for its proprietary full-scale commercial engineering design for its waste-to-power and waste-to-hydrogen processes known as 'DMG' on Friday.

The AIM-traded firm said the independent review of its technology was undertaken by DNV, which it described as a "global leader" in technical assurance certification.

It added that the statement said the DMG technology could convert 25 tonnes of feedstock comprising high calorific value waste materials per day.

The benefits of the DMG process listed in the statement included waste elimination with high levels of energy recovery, production of electrical power for distribution, and the ability to co-produce high purity hydrogen with electrical power.

It also confirmed that the modular design of the DMG process complied with "all current regulations and statutory requirements", and also with availability and operational demands.

The board said the third-party endorsement of the generic commercial design and equipment was a "major milestone" in the planned technical development programme leading to a full-scale build.

"We sought this technology assessment of our engineering design by one of the world's most highly respected evaluators of new technologies," said chief executive officer Keith Allaun.

"DNV confirms both our technology design and the rigour of our engineering approach.

"Our team has worked relentlessly over the last 18 months to get the DMG technology to its existing commercialisation phase."

At 1309 BST, shares in PowerHouse Energy Group were up 0.95% at 2.12p.

Reporting by Josh White at Sharecast.com.