Contract Win

Meggitt PLC

Contract Win

Heatric heat exchangers enable low-cost, CO2 emission-free energy power generation

Meggitt PLC ( "Meggitt" or "the Group"), a leading international company specialising in high performance components and sub-systems for the aerospace, defence and energy markets, announces that Heatric, a Meggitt subsidiary, has been chosen to supply recuperative heat exchangers for a revolutionary natural gas-fired pilot plant from NET Power offering low-cost energy with no carbon dioxide emissions. Heatric printed circuit heat exchangers (PCHEs), with their diffusion-bonded design, can perform as needed in the very high temperatures and pressures of the plant's core process.

This multi-million pound contract, which represents a new market opportunity for Heatric in green energy generation, will see the delivery of four PCHEs by the end of April 2016, ready to commission the 50MWt demonstration plant in Texas, USA, later that year. The NET Power plant will be delivered in partnership with CB&I, Exelon Generation, Toshiba and 8 Rivers Capital.

Using supercritical CO2 (sCO2) as its working fluid, the system's major by-products will be water and a pipeline-quality, high-pressure stream of carbon dioxide ready to be stored underground permanently or compressed and liquefied for industrial use.

To achieve as much heat recovery as possible as it exits the turbine, high efficiencies are needed to make the process viable in reducing the fuel required to generate electricity. The ability of Heatric PCHEs to capture and recycle a significant proportion of the turbine exhaust energy flow in very demanding operating conditions makes a critical contribution to the economic viability of this pioneering green process.

Chief Executive, Stephen Young said: "Heatric has already supplied over 2,500 heat exchangers for oil and gas platforms and, most recently, FPSO and FLNG remote offshore gas processing vessels. However, this new contract shows Heatric working closely with customers to develop new and exciting applications in adjacent fields."

ENDS

For further information please contact:

Meggitt PLC

Richard Cashin, Investor Relations Tel: 01202 597597

Fiona Greig, Corporate Communication

Buchanan

Charles Ryland, Richard Oldworth and Helen Chan Tel: 0207 466 5000

Editor's notes

Meggitt PLC

Headquartered in the United Kingdom, Meggitt PLC is an international group operating in North and South America, Europe and Asia. Known for its specialised extreme environment engineering, Meggitt is a world leader in aerospace, energy and defence. Meggitt employs nearly 11,000 people at around 40 manufacturing facilities and regional offices worldwide.

www.meggitt.com