PHE Powerhouse Energy Group Plc

 
TIDMPHE 
 
PowerHouse Energy Group, plc 
                        ("PowerHouse" or "the Company) 
 
                                Equity Placings 
 
PowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering 
hydrogen production from waste plastic and end-of-life tyres, announces the 
placing of New and Existing Ordinary Shares with private shareholders. 
 
Details of the Placing 
 
The Company has issued 180,000,000 New Ordinary Shares of 0.5p each at 0.5p per 
share ("New Ordinary Shares") in an over subscribed placing and direct 
subscription to raise gross proceeds for the Company of GBP900,000.00. The net 
proceeds will be utilised to support the commercial development of PowerHouse's 
proprietary technology DMG® which takes plastic and rubber waste streams and 
converts them into cost efficient energy in the form of electricity and ultra 
clean hydrogen gas fuel. 
 
All of the shares remaining in the control of PowerHouse as a result of the 
Convertible Note with Hillgrove Investments Pty Ltd ("Hillgrove") have now been 
placed. The final 64,744,645 Ordinary Shares of 0.5p  remaining in relation to 
Hillgrove as announced on 31 January 2018  have been placed at 0.5p per share 
with private shareholders on behalf of Hillgrove which is now no longer a 
substantial shareholder in the Company. The Placings were carried out by the 
Company's Broker, Turner Pope Investments TPI Limited, and Joint Placing Agent, 
Cornhill Capital. 
 
Application is being made for the admission of 180,000,000 new Ordinary Shares, 
representing 11.7 per cent of the enlarged share issued shares in issue to 
trading on AIM ("Admission") and it is expected that this will occur on or 
around 25 April 2018. These shares will rank pari passu in all respects with 
the Company's existing issued Ordinary Shares. 
 
Subsequent to the issue of the New Ordinary Shares, the Company will have 
1,532,558,289 Ordinary Shares in issue and there are no shares in Treasury, 
therefore this figure may be used by Shareholders, from Admission, as the 
denominator for the calculations by which they will determine if they are 
required to notify their interest in, or a change in their interest in, the 
share capital of the Company under the FCA's Disclosure and Transparency Rules. 
 
Keith Allaun, CEO of PowerHouse, said: "We are delighted with the support from 
existing and new shareholders. The PowerHouse System continues to demonstrate 
that at commercial scale, our outstanding waste-to-hydrogen technology will be 
delivering distributed hydrogen in the most ecologically responsible, 
economically efficient, distributed manner, and position PowerHouse as a key 
hydrogen player. We intend to be one of the  lowest cost  providers of 
hydrogen fuel in the world, whilst making a major contribution to reducing the 
plastic and rubber waste problem- and dramatically reducing air pollution." 
 
The information contained within this announcement is deemed by the Company to 
constitute inside information as stipulated under the Market Abuse Regulations 
(EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via 
Regulatory Information Service ("RIS"), this inside information is now 
considered to be in the public domain. 
 
Enquiries: 
 
PowerHouse Energy Group plc                     Tel: +44 (0) 203 368 6399 
Keith Allaun, Chief Executive Officer 
 
WH Ireland Limited (Nominated Adviser)          Tel: +44 (0) 207 220 1666 
James Joyce / Chris Viggor 
 
Turner Pope Investments TPI Ltd (Broker)        Tel: +44 (0) 203 621 4120 
James Pope / Andy Thacker 
 
Gable Communications Limited                    Tel: +44 (0) 20 7193 7463 
John Bick / Justine James 
 
 
About PowerHouse Energy 
 
PowerHouse Energy has developed proprietary process technology called DMG® 
which takes plastic and rubber waste streams and converts them into cost 
efficient energy in the form of electricity and ultra clean hydrogen gas fuel 
for use in cars and commercial vehicles (FCEV: Fuel Cell Electric Vehicles) and 
other industrial uses. The PowerHouse technology is the world's first proven 
hydrogen from waste (HfW) process. 
 
The PowerHouse process converts 25 tonne of plastic or rubber waste into 1 
tonne H2 per day and 28 MWh per day of electricity. 
 
The PHE process produces low levels of safe residues and requires a small 
operating footprint, making it suitable for deployment at enterprise and 
community level. 
 
PowerHouse is quoted on the London Stock Exchange's AIM Market. The Company is 
incorporated in the United Kingdom. 
 
For more information see www.powerhouseenergy.net 
 
 
 
END 
 

(END) Dow Jones Newswires

April 18, 2018 07:10 ET (11:10 GMT)

Grafico Azioni Powerhouse Energy (LSE:PHE)
Storico
Da Set 2024 a Ott 2024

Grafico Azioni Powerhouse Energy (LSE:PHE)
Storico
Da Ott 2023 a Ott 2024