Business
Acquisition
Acquisition.
About this update from Powerhouse Energy Group Plc
[{"type":"text","content":"\n \n 9 August 2013\n\n PowerHouse Energy Group plc \n\n (the \"Company\" or \"PowerHouse\" or \"the Group\") \n\n Powerhouse completes acquisition of the remaining 70% of Pyromex to create \n global waste to energy group \n\n * Powerhouse completes acquisition of the remaining 70% of Pyromex not\n already held by the company.\n \n * Powerhouse and Pyromex combine to create best of breed Waste-to-Energy\n solutions to focus on small to medium sized modular efficient waste\n solutions deliverable on a global scale.\n \n * The acquisition allows for the rapid commercialisation of the technology \n and early cash-flow with the first waste to energy units to be sold by Q1 \n 2014.\n \n * Focus on upgrading of the Munich Waste-to-Energy plant, to expand\n cash-flow, and create a show-case facility.\n \n * New opportunities are anticipated with increased growth in Europe & Asia \n with an office opening in 2014 in Singapore\n \nPowerhouse is pleased to announce that it has entered into a contract to\nacquire total control of Pyromex Holding, AG and its subsidiaries. By combining\nthese companies together Powerhouse is launching a global Waste-to-Energy\nsolution group, utilising patented modular Ultra High Temperature gasification\ntechnology.\n\nBy focusing on near-term sales of 5 tonne and 25 tonne-per-day Pyromex units,\nand expanding into larger build-own-operate ventures over the next 12 months to\n24 months, the new combined company is poised to create an aggressive, dynamic,\nbusiness model with significant growth prospects.\n\nPowerhouse is positioned to see early cash-flow based upon the sale of the\nsmaller 5 tonne per day Pyromex units which Powerhouse have two (2) units\nalready near completion, with one undergoing factory testing.\n\nThe founder of Pyromex, Peter Jeney, says, \"I believe that the Pyromex UHT\nreactor is a world-changing technology. We needed a strong partner that would\njoin with us and help us create the commercial success we have been working for\nover the past 15 years. We believe we finally have that in Powerhouse. Having\nshared challenging times, and having rebuilt our foundations, we are convinced\nthat working together with Powerhouse we can build the world-wide organisation\nnecessary to bring our solutions to the market. We are ready to deliver this\ntechnology on a massive scale.\"\n\nKeith...