Powerhouse Energy (#PHE) – H1 loss £0.9m, cash down to £7.5m after ‘strategic changes’
- 2022-08-25 07:32:03
What is the Polish for “Powerhouse Energy (PHE) looks increasingly fecked?” Another JV agreement has had to be rewritten as nobody external will bankroll this unproven technology. Today’s news casts a new doubt over the commerciality of its IP and also of when ( not if) Powerhouse will need to do yet another bailout placing.
In the beginning Peel Holdings was to fund the Protos SPV roiling out Powerhouse Energy’s (PHE) not so revolutionary and unproven waste to hydrogen plants. Then Peel realised the risk it was taking and made Powerhouse raise equity to lend money to Protos. And today…
On a day when Ceres Power (CWP) hooked up with Shell, promising to spend £100 million on its tech - which will produce Hydrogen far more cheaply than anyone else on this planet - I ask someone, anyone, to explain the point of Powerhouse Energy (PHE), as its bastard offspring, Hydrogen Utopia (HUI), goes Dutch.
After eleven weeks as the latest CEO of Powerhouse Energy (PHE) Paul Drennan-Durose felt the need to reassure the morons owning this stock. And he took as his inspiration the great Ronan Keating who, as I am sure you know, sang a song about the relationship between a penny stock promoter and his gullible investors.