Business
Operational update
Operational update.
About this update from Powerhouse Energy Group Plc
[{"type":"text","content":"\n \n Powerhouse Energy Group plc\n (\"Powerhouse\" or the \"Company\")\n 6 May 2022\n Operational Update\n Powerhouse Energy Group plc (AIM: PHE), the UK technology company commercialising hydrogen production from plastic, provides an operational update.\n Further to the recent appointment of Paul Drennan-Durose as Chief Executive Officer, the management team has been working closely, and collaboratively, with Peel NRE Ltd.’s leadership team on their Protos plant project in the UK, and the Company has been very much involved in their process of selecting world class construction partners for the ultimate build phase, and the financial assessment of the SPV business plan.\n In addition to this, the new CEO has been leading the Company’s management team, meeting other members of the international waste and hydrogen ecosystem Powerhouse operates within, including premium grade suppliers, other technologists, and potential project partners, to explore other potential routes for the Company to develop technology, and to commercialise the group. As well as this, management is actively scoping opportunities to further develop the technology readiness level of its offering, and to showcase thisacross international platforms.\n The Company has been examining and reviewing the Powerhouse business and its operations, with a view to setting out in the near future an evolved business model, to seek optimal results and value for all stakeholders. The Company plans to be in a position to share this, and other developments, with investors in more detailed announcements shortly, and the strategic path at or around the time of the next AGM.\n Paul Drennan-Durose states:\n “It’s now been eleven or so weeks since becoming Powerhouse CEO, and in joining the rest of the board in leading the business on the next phase of its development. As you would expect in these early stages, I and the new board members, and our new Chairman, have been in an intense discovery phase, which has included rapidly meeting with many of the stakeholders and partners that Powerhouse has entered relationships with, and with potential collaborators and partners. We are confident in the future of the business, applying learning from the Company’s prior experiences, and capitalising on the increasing market relevance, and the...