Shares in Powerhouse Energy Group PLC (AIM:PHE) surged by 56% following the announcement of a groundbreaking five-year framework agreement with National Hydrogen of Australia.
This deal marks a significant expansion for Powerhouse, as it could see its cutting-edge waste-to-energy technology deployed in Australia, Italy, Switzerland, and Hong Kong.
Through its subsidiary, Engsolve, Powerhouse will exclusively offer its proprietary technology and engineering services on a project-by-project basis, facilitating the development of numerous hydrogen-based projects.
The agreement, hailed as a major milestone by CEO Paul Emmitt, ensures that all front-end engineering design (FEED) work will be fully funded by National Hydrogen, highlighting a partnership poised to set new industry standards without requiring capital investment from Powerhouse.
At 8.27 am, the shares were changing hands for 0.52p, up 0.19p.