Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Powerhouse Energy (LON: PHE) shares have surged Friday after its development partner, Hydrogen Utopia International (HUI), signed a framework agreement with Linde Engineering.
The deal gives Linde Engineering a 5-year exclusivity to supply HUI in its development of Powerhouse DMG technology, primarily in Poland, Hungary, and Greece — where HUI holds exclusivity for promoting and marketing DMG technology and possibly on the broader European Continent on a project by project basis.
In October, Powerhouse announced it had entered into a collaboration agreement with HU2021 International UK Limited, a subsidiary of HUI, to market the deployment of DMG technology in territories outside the UK.
James Greenstreet, Non-Executive Chairman of Powerhouse Energy Group, said: “We look forward to HUI and Linde’s collaboration which would use Powerhouse technology to help accelerate Poland’s clean energy transition. HUI is championing our technology across Europe and potentially the world – helping provide a global solution to plastic waste.”
The news has seen Powerhouse Energy's share price surge over 34% to 5.9p.
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
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