Powerhouse Energy division awarded Australian FEED contract

18th Nov 2024 13:05

(Sharecast News) - Powerhouse Energy announced on Monday that its engineering consultancy division Engsolve has been awarded a £0.35m front-end engineering design (FEED) contract by National Hydrogen for a project in Western Australia.

The AIM-traded firm said the FEED study, set to begin in January following data gathering in December, would support National's plans to submit planning and permitting applications for the project.

It said the site, located within East Rockingham's Heavy Industrial Estate near Perth, was strategically positioned to serve electricity and hydrogen off-takers and had capacity for two Powerhouse DMG plants.

National Hydrogen, which holds a five-year licensing and royalties agreement with Powerhouse, aimed to develop projects in Australia, Italy, Switzerland, and Hong Kong using Powerhouse's waste-to-energy technology.

"I am very pleased that Engsolve has been awarded this order for the FEED study," said chief executive officer Paul Emmitt.

"This is a key milestone for both PHE and National Hydrogen and will secure revenues for Engsolve, and thus Powerhouse, whilst also further building our relationship with National Hydrogen.

"Given the agreement that we have with National Hydrogen, we believe that 2025 will be an exciting time for both companies as we not only look to progress the Western Australia project, but also look to develop other new opportunities."

At 1249 GMT, shares in Powerhouse Energy Group were up 0.28% at 1.07p.

Reporting by Josh White for Sharecast.com.