PowerHouse (AIM: PHE), the company focussed on ultra high gasification waste to energy systems, has given DirectorsTalk its unaudited interim results for the six months to 30 June 2016.
H1 2016 Highlights
Operational
· Period focussed on G3-UHt Ultra High Gasification waste to energy system (“G3 System”) testing programme
· Signed commercial cooperation agreement with PowerHouse Energy Americas
· Settlement agreed with RenewMe
· Clive Carver appointed as Non-Executive Director
Financial
· Hillgrove Investments Pty Limited convertible loan note increased by AUD 176,000 and facility repayment extended to at least 30 June 2017
· Equity fundraising of £575,000 to support completion of testing and commercial roll out
Post-period Highlights
Operational
· The Company announced completion of its G3 testing programme and commencement of commercialisation phase
· Key personnel hired to support the Company’s commercial roll-out
· Early discussions with a number of potential clients have commenced
Financial
· Current cash balance is £450,000