Powerhouse Energy Raises £1.25 Million to Boost R&D and Project Pipeline

Story Highlights
  • Powerhouse Energy raised £1.25 million to accelerate R&D and project development.
  • Funds will enhance PHE’s project pipeline and market presence, supporting commercial growth.
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Powerhouse Energy Raises £1.25 Million to Boost R&D and Project Pipeline

Powerhouse Energy ( (GB:PHE) ) has shared an update.

Powerhouse Energy Group Plc has successfully raised £1.25 million through a placing of new ordinary shares to accelerate its research and development activities, particularly to demonstrate the flexibility of its DMG process at its Technology Centre in Bridgend. The funds will be used to progress projects in Ballymena and Australia, enhance research on alternative outputs from DMG, and expand the engineering base of its Engsolve division. Additionally, a retail offering of up to £125,000 is available to current shareholders. This financial boost is expected to enhance PHE’s project pipeline and market presence, supporting its journey towards full commercial scale DMGs and generating new revenue streams.

More about Powerhouse Energy

Powerhouse Energy Group Plc is a company that has developed technology to convert waste plastic, end-of-life tyres, and other waste streams into syngas, which can be used to produce valuable products such as chemical precursors, hydrogen, electricity, and heat. The company also operates Engsolve Ltd, a revenue-generating engineering consulting division specializing in new technologies and clean energy.

YTD Price Performance: -40.91%

Average Trading Volume: 7,733,674

Technical Sentiment Consensus Rating: Buy

Current Market Cap: £28.12M

For detailed information about PHE stock, go to TipRanks’ Stock Analysis page.

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