18th Jun 2008 07:00
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Press release |
18 June 2008 |
Energetix Group plc
("Energetix" or "the Group")
Energetix Genlec agreement with a further boiler manufacturer
Energetix Group plc (AIM: EGX), a leading developer of new and sustainable alternative energy products, announces that its subsidiary Energetix Genlec Limited ("the Company") has signed heads of terms for a collaboration agreement with a leading supplier of heating technology to jointly integrate the Genlec micro-CHP (micro combined heat and power) unit into a wall-mounted boiler for the European domestic heating market.
Under the agreement, the boiler manufacturer will incorporate the Energetix Genlec micro-CHP unit into one of its wall-mounted boiler designs, while Energetix Genlec will provide technical expertise and a number of Genlec units for field-testing.
Due to confidentiality the name of the boiler company is not being made public at this time. The boiler company is, however, a market leader in Europe and has over recent years been expanding its export business into other global markets.
Energetix Genlec is now collaborating with four companies who between them have access to all the major European boiler markets, including five of the six largest in the world, namely the UK, France, Germany, Italy and the Netherlands. Genlec micro-CHP units have already been fully integrated into wall-mounted boilers manufactured by Dutch boiler manufacturer Daalderop and by its other European boiler manufacturer, and these are currently undergoing trials.
Micro-CHP units produce electricity while generating heat, enabling significant reductions in both energy bills and carbon emissions. By using a Genlec-enabled micro-CHP boiler, a typical UK home will save an average of £150 per year (compared to a brand new, 90% efficient condensing boiler), providing a payback of 3-5 years, and reduce around 1 tonne of CO2 emissions per year. However, with increasing fuel costs and where a Genlec unit replaces an older, more inefficient boiler, these savings could be much higher and the payback period shorter.
Adrian Hutchings, CEO of Energetix Group, commented: "Energetix Genlec's strategic model is to form alliances with heating manufacturers and utilities. This agreement further extends our portfolio of alliances seeking to deliver commercial product in the near term across a pan-European network, we are on target with our plans to launch wall-mounted micro-CHP boiler units in the second half of this year, starting with the Dutch market via our growing relationship with Daalderop."
- 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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Ben Thompson |
www.zeuscapital.co.uk |
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Novum Securities Limited |
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Michael Brennan |
020 7562 4700 |
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Henry Turcan |
www.novumsecurities.com |
Media enquiries:
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Abchurch Communications |
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Justin Heath / 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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