UK 23:38 Tuesday, 13 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Powerhouse Energy (PHE) has had almost as many directorate changes over the past few years as I have had inappropriate thoughts about Britain’s leading chanteuse and actress, Ms Cheryl Cole. Today we have another one. That is another directorate change, this is nothing to do with Cheryl.
Just how bad is the cash position at Powerhouse Energy (PHE)? You have to ask the question today on news that it has pulled out of its planned jv with Hydrogen Utopia (HUI) at Longford in Eire. Powerhouse says that it hopes to revisit the scheme, Hydrogen makes it clear that it does not see that happening. Powerhouse says that it has to prioritise its numerus opportunities. That is bollocks.
If Powerhouse Energy (PHE) was a serious company it would have gained patent protection for its IP many, many, years ago in its long and inglorious career on AIM. But it is not. And so today it announces with great fanfare that it has been notified by the European Patent Office that the Company's European Patent Application No 20751207.0, "Method and Apparatus for the Treatment of Waste Material", will be fully granted on the 11 October 2023. Hold the fucking front page.
This seems pretty simple. Today, Powerhouse Energy (PHE) announced interims which were naturally utterly piss poor but covered in vast amounts of jam tomorrow. Its acting CEO Keith Riley also walked with immediate effect for “personal reasons.” Yet on 22 August through the offices of esteemed bucket shop broker Turner Pope, the company did a £1 million placing at 0.5p. hang on Henry… I have written to AIM Regulation
If I had any sympathy for the Mitchell Brothers, the chaps running Turner Pope, it was on the basis that it was on the basis that they had learned from their past errors and were, enjoying a Damascene Conversion. Today came evidence that the Mitchells have learned nothing and they thus deserve the financial ruin heading their way.
On the last possible day, Powerhouse Energy (PHE) has released annual results for calendar 2022 showing sales (nearly all related party) of just £380, 277 and, while the company wants you to look at gross profits of £84,000 it actually racked up an operating loss of £2.1 million and a pre-tax loss of £46,353,704. Yes that is almost a million quid a week loss at the pre-tax level.
You may remember that when Powerhouse (PHE) first got into a joint venture with FTSE 350 giant Peel Holdings to build a waste to Hydrogen plant half an hour up the road from me in Deeside, it was Peel that owned the joint venture and would fund it as it. Then it was “mutually agreed” that Powerhouse would fund it via loans. Then it was “mutually agreed” that Powerhouse would look to buy a 50% stake while Peel might inject more capital via a warrant exercise. Today….
In the beginning Peel Holdings was to own and fund the Protos Facility just up the road from me at Deeside but would license in the (wholly unproven) technology from the shysters at Powerhouse Energy (PHE). Then it was decided that Powerhouse would have to put up the cash. On September 5th last year it was announced that Powerhouse w as in talks to take ownership of 50% of the jv. Today…
