Powerhouse surges on contract win
Powerhouse Energy, the AIM listed clean energy company, surged on news of a sale by its 30% owned subsidiary Pyromex AG.
Powerhouse Energy, the AIM listed clean energy company, surged on news of a sale by its 30% owned subsidiary Pyromex AG.
Pyromex has signed a sales contract and received an initial payment for a 5-ton per day ultra-high temperature, zero emission gasification reactor from the Italian firm Primula SRL.
The Primula contract is valued at approximately €2,000,000.
Subscribe to 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
Primula's feedstock of wood clippings will be pelletized and then gasified using the Pyromex reactor to produce clean syngas.
The syngas will fuel a gas engine with an output capacity of 500 kWh.
Ross Lyndon-James, Executive Chairman of PowerHouse, said:
"This second sale by Pyromex is further validation of the broad spectrum of feedstock the system can operate on and demonstrates the application of the Pyromex reactor for industrial applications."
Powerhouse has an option to purchase the remaining 70% of Pyromex. Over the last 12 months the stock has gained 355%. The shares rose 1.125p to 22.75p on news of the sale.
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.
-
Zoopla: House prices slows to 1.4% in May as rate of sales at four year high
The average UK property now costs £268,400, Zoopla says, but some areas of the country are experiencing much higher price growth than others.
-
FCA reveals 'once in a generation' advice changes - what the reforms mean for you
Consumers to get free access to financial advice type help for pensions and investment following proposed changes from the regulator