26th Jan 2009 07:00
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Press Release |
26 January 2009 |
Energetix Group plc
("Energetix" or "the Group")
CombiVolt Boiler Product Agreement with Daalderop BV
Energetix Group plc (AIM: EGX), a leading developer of new and sustainable alternative energy products, is pleased to announce that, further to successful trials, its subsidiary Energetix Genlec Limited ("Genlec", or "the Company") has signed a commercial agreement with Daalderop BV ("Daalderop"), a supplier of innovative heating equipment based in the Netherlands. The agreement requires Daalderop to use all reasonable commercial and technical endeavours to achieve at least the volumes set out in the agreement which targets the sale of 30,000 Genlec micro-CHP units for the residential heating markets over the next three years starting this year.
Under the agreement, Daalderop will have the right to produce, develop, manufacture, promote and market for commercial sale a range of its wall-mounted CombiVolt boilers, which incorporate the Genlec micro-CHP unit, principally in the Netherlands and Belgium. The agreement is the result of nearly two years of development and testing by Daalderop of a number of CombiVolt boilers incorporating the Genlec product, with a prototype of the CombiVolt boiler having been exhibited in the Netherlands at VSK 2008, a major trade fair for the heating sector.
Energetix Genlec is currently collaborating on a non-exclusive basis with a total of five companies (including Daalderop, E.ON and Stiebel Eltron), who between them have access to all the major European boiler markets such as the UK, Germany, Italy and the Netherlands.
Energetix sees the Netherlands as an early adopter of, and a key ongoing market for, Genlec micro-CHP systems. The Dutch Government has pledged to launch at least 10,000 micro-CHP units into households, and committed 10 million euro's to support this. Wider EU policy and national legislation are also driving the adoption of microgeneration technologies, such as micro-CHP, as a method of efficient energy generation at the point of use while minimising the power losses that result from reliance on a transmission grid. Microgeneration has been high on the UK government agenda, too, with the Conservative Party's proposal in January 2009 to provide financial incentives to promote household energy efficiency. In the UK approximately 1.5 million boilers are sold each year, the majority of which are boiler replacements.
A Genlec-enabled micro-CHP boiler can meet all of a household's heating and hot water needs while generating electricity, enabling significant reductions in both energy bills and emissions. The Genlec micro-CHP product is based on the Company's proprietary Organic Rankine Cycle technology.
Bart Romeijin, Chief Executive Officer of Daalderop BV, said: "We are delighted that we have signed a commercial agreement with Energetix Genlec, after nearly two years of successful development and testing of this innovative micro-CHP product. We are confident that with Genlec as our partner we can deliver a world-leading micro-CHP product at the lowest cost point of any such products, while fulfilling our government's desire to promote microgeneration amongst our households. We believe that with this innovation we continue achieving our mission to develop sustainable products that deliver in-house comfort."
Adrian Hutchings, CEO of Energetix Group plc, commented: "We are proud to have signed the first major commercial agreement for our Genlec micro-CHP product. We strategically targeted the Netherlands as an initial market due to the track record of the Dutch people's rapid adoption of new environmentally friendly products. We are delighted to have partnered with Daalderop, a fast-moving innovative company, well placed to deliver Genlec-enabled micro-CHP products in Holland, Belgium and beyond."
- ENDS -
For further information:
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Energetix Group plc |
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Adrian Hutchings, Chief Executive Officer |
Tel: +44 (0) 151 348 2111 |
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Richard Smith, Chief Financial Officer |
Tel: +44 (0) 151 348 2116 |
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www.energetixgroup.com |
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Daalderop BV |
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Bart Romeijin, Chief Executive Officer |
Tel: +31 (0)344 63 65 00 |
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www.daalderop.nl |
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Zeus Capital |
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Alex Clarkson |
0161 831 1512 |
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Bobby Fletcher |
www.zeuscapital.co.uk |
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Novum Securities Limited |
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Henry Turcan |
020 7562 4700 |
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www.novumsecurities.com |
Media enquiries:
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Abchurch Communications Limited |
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Justin Heath / Joanne Shears / Monique Tsang |
020 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 near Chester, NW England.
About Daalderop BV
In a tradition that spans nearly 130 years Daalderop has become a leading manufacturer of innovative household products. From the purpose-built factory in the Netherlands equipment is developed and produced for heating and cooling, and for providing hot and boiling water. As a result house owners can enjoy unparalleled in-house comfort that meet today's and tomorrow's demands.
From the beginning in 1880 Daalderop entered the local and international market with many innovative systems, ranging from coffee makers and copper pots and pans to water heaters. An excellent example is the recent invention of the CombinAir, a hybrid system ensuring the most economical (water) heating in the world. Because all Daalderop products are manufactured in a responsible way and are built to last backed up with quality guarantee Daalderop enables sustainable comfort!
Daalderop is based in Tiel Netherlands.
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