15th Dec 2008 07:00
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Press Release |
15 December 2008 |
Energetix Group plc
("Energetix" or "the Group")
Energetix Genlec Ltd - further collaboration with E.ON and a major European appliance manufacturer
Energetix Group plc (AIM: EGX), a leading developer of new and sustainable alternative energy products, is pleased to announce that its subsidiary Energetix Genlec Limited has signed a tripartite heads of terms for a collaboration with E.ON Engineering Limited (a subsidiary of E.ON UK plc) and a major European appliance manufacturer with the aim of investigating the potential to produce mass-market Genlec modules and complete Genlec-enabled micro-CHP appliances for E.ON and the European domestic heating market.
Following successful work undertaken under an existing agreement, signed with E.ON UK plc in January 2008 to develop the Genlec micro-CHP unit for UK homes, E.ON and Genlec have now decided to progress towards manufacturing Genlec-enabled micro-CHP appliances for the mass European domestic heating market. The parties plan to translate the progress made under the previous agreement into mass-manufactured appliances by combining Genlec's technology and know-how with a major appliance manufacturer's production capability. This manufacturer, whose name is withheld for confidential purposes, is a large European producer of a wide range of products, including domestic heating appliances.
The parties will work together through a four-phase programme, including building prototypes, evaluation and field trials to determine the most appropriate technical and commercial way to enable E.ON to deliver Genlec-enabled heating products to their customers.
E.ON is one of the world's leading energy companies with core activities in power and gas. Energetix Genlec is currently collaborating with five companies, who between them have access to all the major European markets including the UK, Germany, Italy and the Netherlands. In the UK alone approximately 1.5 million boilers are sold each year, the majority of which are replacements.
A Genlec-enabled micro-CHP boiler can meet all of the heating and hot-water needs of a household while generating electricity, enabling significant reductions in both energy bills and carbon emissions. By installing such a boiler, an average UK household could save approximately £150 per year (compared to a brand new, 90% efficient condensing boiler) and provide payback within 3-5 years; with high energy costs, and where the Genlec unit replaces an older, less efficient boiler, the savings could be even higher and the payback period shorter.
Charles Bradshaw-Smith, Head of Innovation at E.ON UK plc, said: "E.ON is delighted to partner with Energetix Genlec and to be involved with this innovative project which is designed to significantly assist consumers to lower their energy bills while helping to combat climate change."
Adrian Hutchings, CEO of Energetix Group plc, commented: "This further collaboration again emphasises the strength of the Genlec micro-CHP product which can revolutionise the way we heat and power our homes and helps households to reduce their fuel bills and lower their carbon emissions. With increasing demand for energy-saving and awareness of microgeneration, we look forward to continuing to push Genlec and our broader portfolio of products onto market."
- 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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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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