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PowerHouse Energy (PHE) Shares Trade Lower After Ordering “Critical Alloy Material”

Updated: 3 Jun 2021

Shares of hydrogen technology company Powerhouse Energy (LON: PHE) are sliding after the announcement it has ordered the critical key alloy material used in the manufacture for the DMG Advanced Thermal Conversion Technology process.

It will be installed at the first plastic to hydrogen facility, located at Peel NRE’s – part of Peel L&P – strategic energy and resource hub Protos in Ellesmere Port.

The alloy material, which was selected after four years of research by Powerhouse, has been ordered by Protos Plastics to Hydrogen No. 1 Limited, the Peel NRE special purpose vehicle.

The process was funded from the recent loan agreement from Powerhouse Energy, which will provide up to £3.8 million to the special purpose vehicle.

“Over four years of the technology development team’s work has gone into this procurement decision. I would like to thank all involved, including Peel NRE for their commitment and I look forward to seeing the material worked into the Protos chamber fabrication later in the year,” said David Ryan, CEO of Powerhouse Energy Group.

Powerhouse Energy's share price is trading down 1.48% at 6.01p.

Should you invest in Powerhouse Energy shares?

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