Powerhouse Energy takes part in EU-funded sustainable business project

Powerhouse Energy Group PLC on Monday said it will take part in an EU-funded sustainable business project at Brunel University of London.

The Bingley, England-based firm focuses on turning non-recyclable waste into low carbon energy.

It will participate in new Horizon Europe innovation action under the ‘Just Circle’ project, which is being led by Brunel Business School.

Horizon Europe is an EU-funded research programme which has set aside around €5 million in for Just Circle, which will focus on circular business models ‘for a fair and sustainable transition’, Powerhouse said.

The project has a total consortium value of about €5.85, across 14 partners in nine countries. It is 70% grant-funded, with Powerhouse expecting to receive £225,000 for the use of its technology.

The first kick off meeting will be held on June 10 and 11.

Paul Emmitt, chief executive of Powerhouse, called it a ‘prestigious opportunity’, adding: ‘We are delighted to be part of this consortium and working with the team. This project is undoubtedly asking some very significant questions which need to be looked at and addressed; with the findings certainly expected to shape how we approached sustainability and the circular economy in the future. We look forward to providing further updates on this exciting initiative as it progresses.’

Powerhouse Energy shares fell 2.3% to 0.22 pence on Monday around noon in London, and are down 55% over the past year.

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