Powerhouse jumps 17% on technology purchase
Powerhouse Energy, the AIM listed waste-to-energy company has announced it is to buy the remaining 70% of its technology licensor, Pyromex, for a maximum of £33m.
Powerhouse Energy, the AIM listed waste-to-energy company has announced it is to buy the remaining 70% of its technology licensor, Pyromex, for a maximum of £33m.
The deal will see Powerhouse pay an initial fee to Pyromex's owner, Peter Jeney, of £2.5m over the next 18 months. The rest of the transaction will be dependent on the performance of Powerhouse.
Completion is expected by January 6.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In today's statement Powerhouse points out that: "Pyromex has, during its technology development phase, generated a global following of potential customers now representing a valuable sales pipeline of future contracts".
This may explain the 17.5% jump in the value of Powerhouse's shares this morning as investors see a way for the directors to grow the business.
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Reeves ‘looks at minimum UK shareholding' in ISA reform
On top of a rumoured £10,000 cash ISA limit, chancellor Rachel Reeves is reportedly considering adding a minimum UK shareholding requirement to the stocks and shares ISA
-
Rightmove: Asking prices rise by 0.3%, but increase is lower than typical for October
October saw asking prices grow by £1,165 on average, Rightmove says, but the increase is far below the usual autumn bump as the property market braces for next month’s Budget.