Powerhouse Energy Group PLC (AIM:PHE) CEO Paul Emmitt takes Proactive's Stephen Gunnion through the company's operational highlights and strategic developments for 2023.
Emmitt, who took over as CEO on a permanent basis towards the end of the year, initiated a major strategic review aimed at transitioning the company back to a small business model. This included a focus on a licensing and royalty regime instead of building its own plants, leading to a more efficient and effective company structure.
The review also involved an assessment of finances and future prospects, aligning with shareholder interests. Emmitt highlighted the National Hydrogen opportunity in Australia as a key focus, aiming to provide services through acquisitions without cash outlay.
He said the company also made progress with its Feedstock Testing Unit. Following delays caused by the liquidation of the previous manufacturer, he said the new kiln for the Unit is on schedule and expected to be operational mid-year. The Unit is expected to speed up the development of commercial applications for its tech.
Looking ahead to 2024, the company anticipates a busy financial year with a strong pipeline of projects, including larger pieces of work from existing clients and the delivery of services for Australia.
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