Cooperation Agreement with Project Development Consultant
PowerHouse is pleased to announce that it has entered into a Cooperation Agreement (the Agreement) to appoint Waste2tricity plc (Waste2Tricity) as its Project Development Consultant on an initial 24 month contract. The purpose is to cooperate in the development of multiple waste to energy (WTE) plants in the UK using the PHE G3-UHT gasification technology (G3), subject to both parties meeting specific performance criteria. The contract may be extended if development milestones are met and is subject to cancellation with a 90 day notice period.
The terms of the contract are such that Waste2tricity will initially be compensated in PowerHouse shares for its fees of £20,000 per month to be issued on a monthly basis. 51 per cent. of the shares will be restricted until a final investment decision on a commercial project is reached. Subsequent to successful project development, and after each party recovers its project-related costs (including PoweHouse recovering the expense of the shares issued,) the profits of the project will be shared 50/50. In the event it becomes necessary, each party will provide the other with specialized, externally sourced, personnel at cost + 5 per cent.; such cost to be recovered from the project related costs as defined above.
Waste2tricity has a history of initiating projects both in the UK and in Thailand and PowerHouse had previously signed an exclusive distribution agreement for Thailand with Waste2Tricity, Thailand, a subsidiary of Waste2Tricity.
Waste2Tricitys staff and Board consist of well-respected members of the WTE and Project Engineering communities; Waste2tricitys significant shareholders includes AFC Energy PLC. PowerHouse has previously announced the intended acquisition of an AFC Energy fuel cell (04/04/2014) for demonstration with PowerHouse derived Hydrogen.
The Company believes that PowerHouse and Waste2tricity will be able to identify and secure a suitably accessible, and highly visible, demonstration site for G3 in advance of its arrival in the UK. The Agreement seeks to successfully demonstrate the use of G3 in a commercial installation as well as to explore the potential for the integration of AFC Fuel Cell technology, to which Waste2Tricity has an exclusive WTE related licence in the UK, with G3 for ultra efficient generation of electricity.
Subject to successful commercialisation, each of PowerHouse and Waste2Tricity will have a right of first refusal for WTE projects using each others technology for projects up to 1,000 tonnes of waste per day. The continuation of the right of first refusal is subject to a to be agreed minimum number of installations over each 24 month period.
Keith Allaun, Executive Chairman of PowerHouse said: "We are delighted to have developed this relationship with Waste2Tricity over the past several years. With their involvement we now have boots on the ground in the UK. They are extremely well-connected, knowledgeable about the industry, and were eager to work with their experienced and talented staff. We are confident that together we will be able to deliver successful projects far more rapidly than working independently.
John Hall, Managing Director of Waste2tricity said: "This is a great opportunity for Waste2Tricity to get involved at the early stage of commercialisation of a product that we believe will have an enormous impact on the distributed waste conversion market, distributed power market, and in the future, the distributed hydrogen market. In addition to working on deploying the systems we will also be working with PowerHouse to endeavour to find ways to reduce the manufacturing costs especially with our existing relationships in Thailand.
The Company will keep the market apprised of any future developments relating to the agreement between PowerHouse and Waste2Tricity.
A bit "first draft"!! I would have thought that if you were making a promo video you would make sure everything looked right. Like replacing the broken instrument glass and having a proper pilot light for the waste gas ,not a set of cheap molegrips and a bit of rubber hose. The voice over wasn`t matching the video, " millions of dollars of research" while showing what looks like a tin shed at the back of a scrap yard.
Let's see it! I wonder who would be first to buy this? If they have that much confidence why not offer a free trial period to a potential/s? The publicity following a successful installation & return would speak volumes surely? If its that much of a 'no brainer' get it sorted! Really hope this works out for all kinds of good reasons.
This sounds really promising, But.. I wonder what they do with the 'inert black sand' substance though? How much of this is left over /ton? That's still going to be easier to dispose of, I guess it won't need compacting too.
1. "I read your little soiree. I couldnt help notice you ended it by saying you couldn't recommend PHE?"
If you don't understand the meaning of "Cannot recommend a purchase" then I suggest that you Google.
2. " Has he really understood the PHE technology?"
I think that I've summarised my views on that quite well. 14 years developing their so called "technology" whilst hundreds of other waste to energy plants have been built by their competitors. They still don't have a commercial product.
3. " You are sad. Your agenda is sad. And behind that silly name is just a grubby little man?"
To paraphrase Margaret: I always cheer up immensely when they attack me personally, it means they have not a single financial argument left.
I read your little soiree. I couldnt help notice you ended it by saying you couldn't recommend PHE?
I say to everyone else reading this.
Why would this individual go to SO much trouble, spend SO much of his time and energy, to repeat OVER and OVER again his Recommendation? What recommendation? Some numpty trying to be mr.big?
Has he really understood the PHE technology? Has he even bothered to find out how far they've come? Does he bother to communicate with KA? I seriously doubt that. Yet he goes on and on?
Jak I cant speak for everyone else but give up with the silly recommendations? If anyone is investing in an AIM without understanding the risks of what they are doing they shouldnt be, and they shouldnt need you either.
You are sad. Your agenda is sad. And behind that silly name is just a grubby little man?
Anyway good luck to all you investors, gamblers, knightsofmalta, aliens, romans, countrymen, who have chosen to ignore this one and live on the EDGE.
I am not often here, never posted and only reading on LSE the board, which is much fun to see the fight there. I am in here with just a few shares, it is still high high risk, but could be a great reward, so i am just in with about 3 K. I still do not see here behind the scenes and for me a news like today is not a match winner, the US company is and was always connected here and i can not find much about it or projects they do. So sitting on the side lines and just watching.
The guys on LSE who fight each other are for me both not fully visible, one is much to positive, the other only very negative and both have some valid points. The stock is not that interesting to really comment on anything from my side, but either they really have or are in the process finally of a proven system or it is scam again, 50 to 50 % chance, that is my view.
So be careful if you invest here and be aware of loosing your money or making a really good profit !
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