23rd Oct 2008 07:00
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Press Release |
23 October 2008 |
Energetix Group plc
("Energetix" or "the Group")
Energetix Genlec agreement with STIEBEL ELTRON GmbH
Energetix Group plc (AIM: EGX), a leading developer of new and sustainable alternative energy products, announces that its subsidiary Energetix Genlec Limited ('the Company') has signed heads of terms for a collaboration agreement with STIEBEL ELTRON GmbH, a leading supplier of heating technology. The agreement is to jointly integrate the Genlec micro combined heat and power (micro-CHP) unit into a boiler for the European domestic heating market, development of which is expected to start in early 2009.
Under the agreement, STIEBEL ELTRON will incorporate the Energetix Genlec micro-CHP unit into one of its boiler designs, while Energetix Genlec will provide technical expertise and a number of Genlec units for field-testing. Upon the completion of successful trials, it is anticipated that STIEBEL ELTRON will incorporate the Genlec unit into its micro-CHP programme with a view to commercial sales across Europe and potentially through STIEBEL ELTRON's worldwide business.
STIELBEL ELTRON was founded in 1924 and is a diversified appliance manufacturer of home comfort and renewable energy appliances. They have briefed Energetix that they hold worldwide leading positions with hot water, central heating and renewable energy appliances. Having acquired the HVACR division of Elektrolux Deutschland in 2002, they produce a range of products for hot water, central heating, area heating systems, air-conditioning and ventilation under the AEG and Zanker brands.
This timely association coincides with the introduction of new German legislation which actively supports micro-CHP. From 1 January 2009 German micro-CHP users will be rewarded with government subsidies for any excess electricity they generate. This, combined with the value of the electricity the Genlec unit can produce to be used in the home, is estimated to be worth to the home owner around €600 per house per annum, making Germany an attractive and strategically important market for Genlec.
Adrian Hutchings, Chief Executive Officer of Energetix Group, commented: "We are delighted that this arrangement further endorses Genlec's technology, as well as our strategy of forming key alliances. The relationship with STIEBEL ELTRON should give us greater access and insight into the European market, and in particular to Germany, an important and advanced market for micro-CHP.
"This development comes at a time when Genlec has commissioned new micro-CHP customer test and development facilities, which are currently being used for performance testing for E.ON, test rig commissioning for our boiler partners, and combi-boiler development which is funded by the North West Development Agency. This agreement further demonstrates the validity of the team's work."
Dr. Kai Schiefelbein, Chief Technical Officer of STIEBEL ELTRON, commented: "With our strong development and production base and our international network of sales subsidiaries, we believe that we are very well placed to support the introduction of Genlec-enabled micro-CHP in the European market. "
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For further information:
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Energetix Group plc |
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Adrian Hutchings, Chief Executive Officer |
Tel: +44 151 348 2111 |
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Richard Smith, Chief Financial Officer |
Tel: +44 151 348 2116 |
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www.energetixgroup.com |
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Zeus Capital |
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Alex Clarkson |
+44 161 831 1512 |
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Bobby Fletcher |
www.zeuscapital.co.uk |
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Novum Securities Limited |
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Michael Brennan |
+44 20 7562 4700 |
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Henry Turcan |
www.novumsecurities.com |
Media enquiries:
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Abchurch Communications |
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Justin Heath / Joanne Shears / Monique Tsang |
+44 20 7398 7700 |
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www.abchurch-group.com |
About Energetix Group plc
Energetix Group plc is a leading developer of new and sustainable alternative energy products. The Group operates by identifying key market demands for efficient, reliable and cost-effective energy provision and by developing a range of core technologies that address these market needs.
Energetix was established by Adrian Hutchings in 1997, having spent the previous four years at British Nuclear Fuels plc ("BNFL") developing alternative energy products and identifying new business ventures for energy systems.
Adrian and his highly experienced team floated the Group on AIM in August 2006 and are currently focusing on the following core technologies: Genlec, a micro combined heat and power (CHP) product for the domestic boiler market; and Pnu Power, an electro-mechanical energy store for uninterruptible power supply (UPS) for commercial applications. These global markets are currently valued at £8bn per annum and in excess of £1.2bn per annum respectively.
Energetix focuses on solutions that are easy and cost-effective to manufacture, and which can realise payback for the end-user quickly. It targets innovations that can readily replace conventional, inefficient devices and which require minimal shifts in consumer behaviour to adopt.
In September 2007, the Group listed a third business, Energetix Voltage Control Limited, on AIM, under the name of VPhase plc. Energetix retains a 49.4% shareholding in VPhase, which is developing a range of technologies designed to reduce energy consumption whilst at the same time seeking to make use of existing proven components. Its first such product is a device that controls the incoming voltage to a property, saving energy and increasing appliance life.
Energetix Group and its subsidiaries are all based in Capenhurst near Chester, NW England.
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