Powerhouse Enrgy Grp Agreement to Issue of Equity
January 19 2017 - 1:00AM
UK Regulatory
TIDMPHE
PowerHouse Energy Group plc
("PowerHouse" or the "Company")
Agreement to Issue of Equity
PowerHouse is pleased to announce that it has entered into an agreement to raise gross proceeds of GBP250,000 via a placing of 35,714,285 ordinary shares of 0.5p each in the Company ("Ordinary Shares") at a price of 0.7p per share ("Placing"). The new Ordinary Shares will be placed with Yady Worldwide S.A..
The Company will announce the completion of the Placing and the date of Admission for the new Ordinary Shares in due course.
Keith Allaun, Executive Chairman of PowerHouse said: "We welcome Yady Worldwide as a significant investor in PowerHouse. Yady Worldwide's commitment to the burgeoning Hydrogen Economy, as well as waste-to-energy sector, is underscored by its investments in both AFC Energy PLC and Waste2tricity plc, with whom the Company announced a cooperation agreement on 18 January 2017. We look forward to having them on board to assist with our commercial roll-out and growth."
For more information, contact:
PowerHouse Energy Group plc
Keith Allaun, Executive Chairman
Tel: +44 (0) 203 368 6399
WH Ireland Limited (Nominated Adviser)
James Joyce / James Bavister
Tel: +44 (0) 207 220 1666
Vicarage Capital Limited (Broker)
Jeremy Woodgate
Tel: +44 (0) 203 651 2910
IFC Advisory (Financial PR & IR)
Tim Metcalfe / Graham Herring / Heather Armstrong / Miles Nolan
Tel: +44 (0) 203 053 8671
About PowerHouse
PowerHouse is the holding company of the G3-UHt System Ultra High Gasification waste to energy systems.
The Company is focussed on technologies to enable energy recovery from municipal waste streams that would otherwise be directed to landfills and incinerators; or from renewable and alternative fuels such as biomass, tyres, and plastics to create syngas for power generation, high-quality hydrogen, or potentially reformed into liquid fuels for transportation. These waste to energy systems aim to provide the "best solution" to the on-site energy market.
PowerHouse is quoted on the London Stock Exchange's AIM Market. The Company is incorporated in the United Kingdom.
For more information see www.powerhouseenenergy.net
(END) Dow Jones Newswires
January 19, 2017 02:00 ET (07:00 GMT)