I am pleased to report that PowerHouse has continued to take positive action in the recovery and expansion of the Group.
During the first six months of 2013, PowerHouse made significant progress towards its goal of becoming a global force in the Waste-to-Energy (WtE) market. This time was marked by a tremendous effort on the parts of both of the PowerHouse and the Pyromex teams in achieving the completion of the PowerHouse acquisition of Pyromex AG, and on the part of the engineering, manufacturing, and commercial teams to finalize the Pyromex Ultra High Temperature Reactor (UHTR) development.
The efficiency of the Pyromex UHTR system is such that it is extremely favourable when compared with other renewable options on the market. This efficiency, coupled with the economic advantages of diverting waste from landfills, and cleanly generating electricity makes the PowerHouse /Pyromex solution very compelling to our potential customers.
Waste-to-Energy is a growing, vibrant market in which demand is clearly outpacing supply. There are lucrative, long-term, rewards for companies with economical solutions to an ever-growing waste stream with which we are faced. The problem of waste continues to grow as first-world economies grapple with the reality that one can only achieve so much by reducing, reusing, and recycling. The time has come to "recover." Recover the huge deposit of renewable energy that lies trapped within our organic municipal and industrial waste. By diverting appropriate waste streams from landfill, and engaging the Powerhouse process, we can recover as much as 90% of the energy that was being "thrown away", cleanly, economically and sustainably.
With the acquisition of Pyromex successfully completed in August 2013 we are only beginning to fully realise the commercial potential of the Pyromex UHTR gasification technology. We are positioning ourselves, with prudent planning, targeted hiring, and determined customer acquisition, to become a global player in this field.
During the final few months of 2013, we will continue working on the finalization of commercialisation of the technology, stress-testing, commissioning, and customer demonstrations. We continue to aim at first unit deliveries by early 2014 and are pushing aggressively to achieve that goal.
LNC Price at posting:
$1.58 Sentiment: LT Buy Disclosure: Held
