Powerhouse Energy in talks over gasification system

PowerHouse Energy Group said demonstration and review for its G3-UHt gasification system has started before a selection of engineering and commercial personnel from a municipal and regional government based in Central Europe.

The company said there were some issues found with the electrical generation unit following a thorough technology examination and evaluation of each subsystem of the G3 unit.

However, the representatives present expressed an interest in starting commercial talks with PowerHouse for the potential acquisition of a commercially-operating G3-UHt system.

“These negotiations have begun in earnest and will continue over the coming months. As is always the case, the outcome of these negotiations will not be known for some time and the company will make further announcements in due course.”

At 0915 GMT, PowerHouse shares were up 14% at 1.40p.