Further re Extension of Option

RNS Number : 5485A

Powerhouse Energy Group PLC

02 April 2012

 



2 April 2012

PowerHouse Energy Group plc

("The Company" or "PowerHouse")

Further Re. Proposed acquisition of Pyromex Holding, AG - Extension of Option

Further to the announcement made on 1 March 2012 regarding PowerHouse's exercise of an option notice to acquire the remaining 70 per cent. interest in Pyromex Holding, AG ("Pyromex"), the Company announces that by mutual agreement the option period has been extended to 16 April 2012.

The Directors believe they are in the final stages of securing a significant level of funding which the Company requires to complete the acquisition of Pyromex, to execute its business plans for Pyromex, to restructure its US business and which is necessary to continue the operations of the Company.

A further announcement will be made in due course.

For additional information please contact:

PowerHouse Energy Group plc

Ross Lyndon-James
[phone]

Merchant Securities Limited (NOMAD and Broker)

David Worlidge/Simon Clements

[phone]

Pelham Bell Pottinger

Nick Lambert / Charles Stewart

[phone]

Notes to Editors:

·     PowerHouse is a leading provider of economically proven, on-site, clean energy systems that use traditional and renewable forms of fuel to generate electric and thermal energy in an environmentally responsible way. PowerHouse's forward development strategy includes the conversion of waste and coal and coal waste to cleaner liquid fuels including diesel and jet fuels

·     PowerHouse offers a complete turnkey waste/biomass to energy equipment solution either by: direct sale or energy supply under long term power purchase agreements

·      PowerHouse's shares trade on the Alternative Investment Market under the ticker (PHE)

 

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