Powerhouse Energy subsidiary secures first production train contract

Powerhouse Energy's wholly-owned Engsolve subsidiary has secured its maiden contract for the building and installation of its production train for TrimTabs, a South Wales-based process technology company pioneering the low-cost, sustainable production of carbon nanotubes.

Powerhouse Energy said on Monday that Engsolve were successfully selected by Trimtabs on its ability to develop pilot-scale operations into large industrial-scale processes, and stated that its involvement in the development of the technology will aid TrimTabs in its pursuit of the production of sustainable carbon nanotubes.

The AIM-listed group added that the installation of the unit will elevate the technology readiness level from six to nine, marking a "substantial advancement in commercial viability".

Chief executive Paul Emmitt said: "We are pleased to have been appointed the contract for the development of the Trimtabs MVP, reaffirming Engsolve's ability to deliver solutions for new and exciting technologies. At Powerhouse, we are pleased that our subsidiary is working with Trimtabs to target the high-tech market for carbon nanotubes."

As of 0950 GMT, Powerhouse Energy shares were up 2.86% at 0.90p.

Reporting by Iain Gilbert at Sharecast.com