Directorate Change

Energetix Group plc

("Energetix" or the "Company")

Directorate Change

Energetix Group plc, (AIM: EGX), which develops and commercialises alternative and efficient energy products, announces the appointment of Peter Richardson, currently Chief Operating Officer of Dyson Ltd, as Group Chief Executive Officer, with effect from 3 September 2012. Following the appointment, current Group Chief Executive Officer, Adrian Hutchings, will become Deputy Chairman.

Peter joins Energetix from Dyson Limited ("Dyson"), where he has been Chief Operating Officer since 2003 and a Group Main Board Director since 1998. Peter's skills and experience, developed through his 15 years at Dyson, make him ideally suited to drive the production, delivery and installation of high volumes of Energetix's microCHP technology throughout the UK.

Peter joined Dyson in 1997 as UK Sales Director and then progressed through various commercial and operational General Management roles before his appointment to Chief Operating Officer in 2003. During his time at Dyson, Peter was a core member of the Executive Management team that grew the business from around £45 million to its current position of >£1 billion global sales. Peter has extensive operations, supply chain, customer service and sales and marketing experience gained from his time at Dyson, but also importantly from his previous management roles when he worked for Cadbury Schweppes, Coca-Cola and Colgate-Palmolive.

Today Peter is responsible for Dyson's South East Asia manufacturing, purchasing, quality control and supply chain operations as well as the Groups Research and Development teams based in the UK and overseas. The fit between Peter's extensive business experience and the next stage of commercialisation of the Energetix business model could not be better. 

Adrian Hutchings, Chief Executive Officer of Energetix, commented: "I am delighted that Peter will be joining Energetix at this important time as we focus the business on product delivery. Over the past year we have been building an exceptional executive team to deliver the major potential associated with our exciting 'free boiler' energy supply business model. To have attracted someone of Peter's experience and track record is testament to the scale of this opportunity.

"As I noted in our Preliminary Results statement and annual accounts, I intend to stand down from my role as Group CEO following Peter's appointment and will, of course, provide a suitable handover period. I will then be able to focus on a role using my technology development expertise. I wish Peter every success and I look forward to working with him."

For further information:

Additional Information

Peter Roby Richardson, aged 49, holds no shares in the Company and other than as set out below there is no further information to be disclosed under schedule 2(g) and Rule 17 of the AIM Rules in respect of his appointment as a Director of the Company.

Peter Richardsonis a director / partner or has been a director / partner of the following companies / partnerships during the previous five years:

Grant of share options

The Company has agreed to grant Peter Richardson options over 2,502,648 ordinary shares of 5p each in the Company (equivalent to 3% of the Company's current issued share capital) at an exercise price of 25p per share. Of these, one third of the options (over 834,216 shares) may be exercised if the Company's AIM mid market share price has been 50 pence or more for a continuous period of at least 90 trading days. The next third of options (over 834,216 shares) may be exercised if the Company's AIM mid market share price has been 100 pence or more for a continuous period of at least 90 trading days. The remaining one third of the options (over 834,216 shares) may be exercised if the Company's AIM mid market share price has been 150 pence or more for a continuous period of at least 90 trading days.

About Energetix Group plc

Energetix Group plc is a developer of cost-effective products to meet the growing global demand for alternative energy, with particular focus on distributed generation, energy storage, and energy efficiency. Currently Energetix has two subsidiary businesses:

Genlec - distributed energy generation for domestic dwellings.

Pnu Power - back-up power for the Telecom, Technology and power transmission markets.

In addition, Energetix has a c.27% stake in VPhase plc, an energy efficiency business Energetix created and subsequently spun out of Energetix in 2010. VPhase is now a standalone independently funded commercial venture.

With all technology development now completed Energetix is well positioned as both its subsidiaries move into the latter phases of commercialisation with their best-of-breed solutions.

Genlec

Genlec has developed a highly efficient, compact and light weight, wall mounted microCHP (Combined Heat and Power) appliance known as the Kingston Boiler. The Kingston boiler is specifically designed to generate 1kW of electrical power to meet the UK's Microgeneration Certification Scheme (MCS) to enable UK owners to receive the Government's 12.5p/ kWh feed in tariff for approved microCHP devices. The Kingston boiler therefore has an inherent low total cost of ownership (initial outlay plus maintenance) and has already demonstrated industry leading payback cycles which many analysts believe is the key to unlocking this significant market opportunity.

On 29 February Energetix announced that it would create a unique dual fuel energy company, provisionally named Kingston Energy, which will provide free Kingston microCHP boilers to its customers in return for a commitment to purchase gas and electricity for a fixed period.

Pnu Power

Pnu Power focuses on the provision of compressed air back-up power which can ensure an uninterruptible power supply for critical systems, particularly for the telecoms, data centre and power transmission markets. Pnu Power range has been extended to include the DC100 product that can now meet the demand of the rapidly growing Green Data Centre market, providing a low carbon alternative to flywheels. Pnu Power has been successful in achieving repeat trial sales and is now poised to move out of the trial sales phase and into full volume commercial sales.

Energetix Group joined AIM in August 2006. The Group and its subsidiaries and associates are all based near Chester, NW England and Ipswich, Suffolk.