Powerhouse Energy (PHE) has issued both half-year and full-year results, a move that led to the company's shares being re-admitted to trading on the Alternative Investment Market. The shares were suspended in April pending clarification of the company's financial position.
We made the shares our 'blue-sky' Tip of the Year on the potential of Powerhouse's Pyromex waste-to-energy technology. The company owned 30 per cent of this and had an option to acquire the remainder, but funding dried up and the option lapsed. New management has since worked to pay off debts and settle claims from previous directors. However, funding still appears perilous, with Powerhouse relying on a £380,000 loan from Peter Bond, the chief executive of Linc Energy, which owns a substantial stake in Powerhouse.
