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Pnu Power contract win from National Grid US

4th Feb 2010 07:00

RNS Number : 6579G
Energetix Group plc
04 February 2010
 



 

 

Press Release

4 February 2010

 

Energetix Group plc

 

("Energetix" or "the Group")

 

Energetix Pnu Power Ltd - contract win from National Grid US

 

Energetix Group plc (AIM:EGX), a group of companies with three cost-effective products (Pnu Power, Genlec and VPhase) to meet the growing demand for alternative energy, is pleased to announce that its subsidiary Energetix Pnu Power Limited ("the Company") has received, through its US associate company Energetix Technologies Inc., a contract from National Grid US ("National Grid") to test its compressed-air backup power system for utility switching applications.

 

Under the agreement, the first Pnu Power unit will be installed on a trial basis at a National Grid electricity substation in Rhode Island. The Company believes that the trial will prove the system's suitability for use in substations and other applications where lead-acid batteries and chargers are conventionally used. It also anticipates that the system will result in significant savings to National Grid US in terms of both installation and operating costs.

 

As part of the agreement, successful operation of the trial unit would lead to full deployment of Pnu Power at another National Grid US site. The exact nature and specification of this system will be determined during the trial. A further announcement will be made in due course.

 

National Grid US delivers electricity to approximately 3.3 million customers in New York, Massachusetts, New Hampshire and Rhode Island, and manages the electricity network on Long Island under an agreement with the Long Island Power Authority (LIPA). It is the largest distributor of natural gas in the northeastern US, serving approximately 3.4 million customers in New York, Massachusetts, New Hampshire and Rhode Island. National Grid also owns over 4,000 megawatts of contracted electricity generation that provides power to over one million LIPA customers.

 

It is part of National Grid plc, who is already testing a Pnu Power unit at an electricity sub-station in Cheshire UK.

 

Adrian Hutchings, CEO of Energetix Group, commented: "This is our third major US contract for Pnu Power and follows a deal with National Grid UK last summer. So far Pnu Power has won contracts in the utility switching, telecoms, broadcast, and defence sectors covering the UK, mainland Europe, and the US. Our latest contract win reflects the ever increasing recognition of the Pnu Power product and is a major step towards its full commercialisation."

 

- ENDS -

 

For further information:

Energetix Group plc

Adrian Hutchings, Chief Executive Officer

Tel: +44 (0) 151 348 2111

Richard Smith, Chief Financial Officer

Tel: +44 (0) 151 348 2116

www.energetixgroup.com

 

Ambrian Partners Limited

Tel: +44 (0) 20 7634 4700

Andrew Craig / Ben Wright, NOMAD

Shaun Whyte, Corporate Broking

www.ambrian.com

 

Media enquiries:

Abchurch Communications Limited

Tel: +44 (0) 20 7398 7700

Monique Tsang / Justin Heath

[email protected]

www.abchurch-group.com

 

 

About Energetix Group plc

Energetix Group plc has three businesses with cost-effective products to meet the growing global demand for alternative energy. With a focus on distributed generation, energy storage and energy efficiency, the Energetix businesses are:

·; Energetix (Pnu) Power Limited - compressed-air back-up power;

·; Energetix Genlec Limited - distributed generation in the home; and

·; VPhase plc - domestic energy efficiency.

 

Energetix's strategy is to create products based on robust engineering principles, regularly utilising existing mass-produced components configured in a novel and patentable way. Avoiding cutting-edge science has enabled the Group's businesses to de-risk the new product development process which in turn reduces development time and costs. This has enabled the businesses to have a lower-than-normal technology risk while still producing strong intellectual property. In addition, this facilitates the outsourcing of production and assembly, significantly reducing the Group's investment in capital equipment. The body of know-how developed within the Group has also enabled our businesses to modify the design of existing mass-produced components to reduce costs, improve efficiency and strengthen the Group's intellectual property position.

 

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

 

www.energetixgroup.com

This information is provided by RNS
The company news service from the London Stock Exchange
 
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