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Powerhouse Energy (PHE) Shares Surge After Addressing Press Speculation

Sam Boughedda trader
Updated 6 Sep 2021

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Powerhouse Energy

Powerhouse Energy (LON: PHE) shares have surged over 20% on Monday after the company addressed speculation about a potential partnership between DMG licensee Hydrogen Utopia International (HUI) and Linde that would see Linde deploy its DMG waste plastic recycling technology.

Industrial gases firm Linde has finalised a technical feasibility evaluation to deploy the syngas clean-up and hydrogen extraction of Powerhouse Energy DMG technology.

“HUI and Linde are in discussions to enter into an agreement to develop a plant in Konin, Poland which would use Powerhouse’s technology,” said Powerhouse.

“There can be no guarantee such an agreement would be finalised and any agreement regarding building a facility would be subject to material conditions including financing, permitting and planning permission,” the company added.

In a statement released by HUI yesterday, it said the company and Linde are in their final stage of signing a mutual contract for the syngas cleanup and that its feasibility study envisaged a plant to be jointly developed by Linde, HUI and Powerhouse Energy, located in Konin in Central Poland.

Powerhouse Energy shares are currently trading at 6.15p, up 21%, adding to Friday's 12% gain.

Should you invest in Powerhouse Energy shares?

Powerhouse Energy shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are PHE shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies

Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.