10th Dec 2008 07:00
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Press Release |
10 December 2008 |
Energetix Group plc
("Energetix" or "the Group")
Energetix Pnu Power Ltd - contract for Pnu Power units
Energetix Group plc (AIM: EGX), a leading developer of new and sustainable alternative energy products, is pleased to announce that its subsidiary Energetix Pnu Power Limited has received an order to supply 20kW Pnu Power compressed air energy systems to P&E Automation Inc. of San Diego, California, USA for installation at a leading U.S. aerospace and defence company's manufacturing facility in Utah, USA. This order is part of a contract that P&E Automation has recently been awarded to integrate Pnu Power energy storage with renewable generation (including wind turbines, heat recovery systems, small hydro, and solar power) in a unique demand reduction/peak shaving application. The project incorporates grant funding from the National Energy Technologies Laboratory, which is part of the United States Department of Energy ("US DOE").
This two-phase order is worth up to US$380,000, with the first system planned to be installed Q2 2009, and then further systems installed in 2009 and 2010.
P&E Automation believes that integrating Pnu Power as part of this innovative demand reduction and renewable energy project was a key factor in the project receiving grant funding by the US Department of Energy. Deanna Bebb, President of P&E Automation said: "We are delighted to be working with Energetix Pnu Power on this project, and to offer this unique solution for clean, reliable back-up power and peak shaving to the US DOE and our aerospace industry client."
Adrian Hutchings, CEO of Energetix Group plc, commented: "This is the first major order for Pnu Power outside of its successful trials in the telecoms and utility switching back-up power market, and underpins our confidence in the ability for Pnu Power to deliver a valuable and environmentally friendly power supply to a broad customer profile."
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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 (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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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.
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