11th Nov 2008 07:00
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Press release |
11 November 2008 |
Energetix Group plc
("Energetix" or "the Group")
Official launch of Genlec's micro-CHP product by Energy Minister
Energetix Group plc (AIM: EGX), a leading developer of new and sustainable alternative energy products, announces that its subsidiary Energetix Genlec Limited has formally launched the Genlec micro-CHP (micro combined heat and power) product at a reception in Westminster with Mike O'Brien MP, Minister of State at the new Department for Energy and Climate Change, on the evening of 10 November 2008.
The launch was attended by over 100 sustainable energy stakeholders, including manufacturers, investors, civil servants, utilities and parliamentarians. Energetix showcased a number of Genlec-enabled boilers, having previously announced arrangements with Daalderop BV, Stiebel Eltron GmbH, E.ON UK, and two other boiler manufacturers.
The Genlec micro-CHP module can be integrated into domestic wall-mounted boilers, and is capable of meeting all of the heating and hot-water needs of the home while generating electricity, enabling significant reductions in both energy bills and carbon emissions. Given the backdrop of increasing fuel costs, and where a Genlec unit replaces an older, less efficient boiler, the savings could be much higher and the payback period shorter than the currently estimated average annual saving of £150 per year, which provides a payback of 3-5 years.
Energetix Genlec has already signed a series of partnerships with companies which 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. These agreements underpin Genlec's strategy of forming strategic alliances with boiler manufacturers to integrate the Genlec unit into boilers, initially for the European market.
Speaking at the event, Mike O'Brien MP, Minister of State at the Department for Energy and Climate Change, said: "Microgeneration technologies that generate both heat and electricity can reduce household energy bills and play an important part in the fight against climate change. The UK needs to dramatically reduce damaging carbon emissions by 2050. Under new laws, people who fit low-carbon products such as the Genlec micro-CHP unit will soon be able to claim money for the electricity they produce."
On the successful launch of Genlec, Adrian Hutchings, CEO of Energetix Group, commented: "We are very proud of the achievements of Energetix Genlec, and the formal launch of the Genlec micro-CHP unit is the culmination of significant innovation from the Genlec team. The arrangements which we have with a number of European boiler manufacturers underpin the strength of the product. We're delighted that the Minister has supported the launch of our micro-CHP unit, an innovation that we believe can have a significant impact in helping consumers to lower their energy bills and contribute to the fight against climate change."
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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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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 / 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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