Powerhouse Energy Group plc
Powerhouse Energy Group plc is an AIM-listed UK waste-to-energy technology company that has developed a proprietary Distributed Modular Generation (DMG) pyrolysis/gasification platform to convert non-recyclable waste (plastics, tyres, other feedstocks) into syngas, hydrogen, electricity, heat and other industrial products. It plans to monetise the technology through licensing fees, royalties, engineering design and project fees, and consolidates an engineering subsidiary, Engsolve Limited, which currently generates all of the Group's reported revenue from third-party engineering services.
10 annual reports read, FY2016 to FY2025
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Sources: Companies House (10)
FY2026Next report expected 3 Jul 2027
- Open the reportJSONComing soonSixty seconds on the FY2025 report
Powerhouse Energy Group plc is developing technology to turn non-recyclable waste into hydrogen, electricity and other products. For now, all its revenue comes from its engineering business, Engsolve. Revenue rose to £1.2m from £499k, and the loss after tax narrowed to £2.9m from £4.7m. The smaller loss mainly reflects a one-off £2,300,000 write-down in the value of a past acquisition, which was charged in the previous year. Leaving that aside, the operating loss widened to £3.2m from £2.5m. Reasons included higher charges for share awards to staff, and pilot-plant building work, which earns lower margins than consulting. The company earned no licence income from its own technology. Cash fell to £704k from £1.3m, even after £1.4m was raised from shareholders. There were no borrowings and no dividend. After the year end, it raised more money by selling new shares. Management is aiming for "a breakthrough year commercially in 2026". The report warns that the business relies on outside funding, and the chief executive is stepping down. The auditor gave a clean opinion.
From the reportevery line sits on the page it namesWhat drove revenueThird-party engineering services via Engsolve Limited
Revenue for 2025 was £1,232,766 (2024: £499,414), derived from Engsolve providing Engineering Services to third party customers
page 8AndFuture licensing fees and royalties from DMG technology
Commercial strategy continues to be focussed on Licensing fees, Royalties and Engineering Services revenues; Technology/Licensing segment did not generate any licence income in 2025
page 59What moved the marginheadwindMix of pilot-plant construction vs consulting work at Engsolve
2025 highlights include building a first-of-a-kind aluminium recycling pilot plant; whilst the building of pilot process plants brings good revenue, the profit margin is lower than for consulting
page 7AndheadwindShare-based payment charges
Share based payments charge to profit and loss of £1,480,718 (2024: £465,342) included in administrative expenses
page 39What management saidWe are aiming for a breakthrough year commercially in 2026 as we continue to implement our Group strategy.
page 4After the year end26 January 2026: Group signed an agreement to lease a 1.98 acre site at Silverwood Business Park, Ballymena, Northern Ireland, for 25 years
page 75The dividendThe Group has not paid a dividend during the year ended 31 December 2025 (2024: £nil) and the Directors do not recommend the payment of a dividend at 31 December 2025 (2024: £nil)
page 18Going concern and the auditFinancial statements prepared on a going concern basis; Directors' assessment based on working capital projections covering at least 12 months, supported by Engsolve engineering revenue and a strategy of shareholder loans to project SPVs. Auditor Barnes Roffe Audit Limited issued an unqualified ('true and fair') opinion on 28 June 2026, with key audit matters: going concern basis of preparation, carrying value of intangibles (goodwill), fixed assets under construction, and share-based payments. Group materiality was set at £97,000 (2024: £120,000).
page 37The risks it names first- Operations: greater than anticipated increases in global pricing/supply chain pressures adversely impacting financial viability of capital projects; constrained supplier manufacturing capacity; longer development timescales; unwilling contractors/suppliers to provide performance guaranteesp.12
- Technical risk: the chosen pyrolysis/gasification technical solution may not perform to anticipated standardsp.12
- Intellectual property: patent applications may not be granted or may be contested; maintaining patents globally is costlyp.12
- Government policy: demand drivers rely on government support for pollution reduction/climate change avoidance; UK policy currently does not recognise counterfactualsp.12
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