Powerhouse Energy (LON: PHE) shares have surged over 20% on Monday after the company addressed speculation about a potential partnership between DMG licensee Hydrogen Utopia International (HUI) and Linde that would see Linde deploy its DMG waste plastic recycling technology.
Industrial gases firm Linde has finalised a technical feasibility evaluation to deploy the syngas clean-up and hydrogen extraction of Powerhouse Energy DMG technology.
“HUI and Linde are in discussions to enter into an agreement to develop a plant in Konin, Poland which would use Powerhouse’s technology,” said Powerhouse.
“There can be no guarantee such an agreement would be finalised and any agreement regarding building a facility would be subject to material conditions including financing, permitting and planning permission,” the company added.
In a statement released by HUI yesterday, it said the company and Linde are in their final stage of signing a mutual contract for the syngas cleanup and that its feasibility study envisaged a plant to be jointly developed by Linde, HUI and Powerhouse Energy, located in Konin in Central Poland.
Powerhouse Energy shares are currently trading at 6.15p, up 21%, adding to Friday's 12% gain.
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