20th Aug 2007 07:01
Energetix Group plc20 August 2007 For Immediate Release 20 August 2007 Energetix Group plc Grant from NWDA to accelerate development of Genlec Energetix Group plc (AIM: EGX) the alternative energy specialist, todayannounces that its wholly owned subsidiary Energetix Genlec Limited ("EGL"), hasbeen awarded a grant of £197k from the North West Development Agency (NWDA) toaccelerate the development of the next generation of Genlec microCHP appliances,namely a high efficiency combination or "combi" micro combined heat and power(microCHP) boiler for the domestic market. EGL announced in July of this year that it had successfully completed theinitial field trial of Genlec(TM) based high efficiency heat only microCHPboiler appliance, and in August that it had entered into letters of intent withtwo European boiler manufacturers to further the development of its micro CHPboiler system, with initial emphasis on the Dutch market which is considered bythe Directors to be especially important as the Dutch Government has alreadystated its intention to have 10,000 micro CHP units installed by 2009. Genlec(TM) enabled appliances should deliver energy savings of £150 - £200 peryear to homeowners and reduce the average home's carbon dioxide emissions byapproximately 1 tonne per year compared to a condensing boiler. The next stepfor EGL will be to manufacture further units for a wider test programme toconfirm these savings and to conclude the necessary endurance testing to preparethe products for market launch. Commenting on the progress of EGL, Adrian Hutchings, Chief Executive Officer ofEnergetix Group said: "We are delighted with this support from the NWDA which will enable us toaccelerate the development of the first extension to the range of products webelieve can be produced from the Genlec(TM) technology platform. The use of lowcost mass produced components within the system supports rapid customisation ofthe core technology to extend the product range." For further information please contact: Energetix Group plc Adrian Hutchings, Chief Executive Officer 0151 348 2111Richard Smith, Chief Financial Officer 0151 348 2116 Zeus Capital 0161 831 1512Alex ClarksonBen Thompson Buchanan Communications 020 7466 5000Ben WilleyBen Romney This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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