1st Dec 2010 07:00
Press release | 1 December 2010 |
Energetix Group plc
("Energetix" or "the Group")
Purchase of Kingston microCHP appliances by E.ON
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 Genlec Limited ("the Company") has accepted an order from E.ON for itsintegrated microCHP boiler appliance, Kingston.
The contract is for an initial small batch of Kingston appliances for testing in E.ON's facilities in Germany and at two facilities in the UK. These appliances are being produced on a six station pilot batch assembly line developed by the Company in conjunction with a major manufacturer of white goods and boilers.
Adrian Hutchings, CEO of Energetix, commented: "We are delighted to have received the order for these appliances from E.ON, which helps to support our view of the major potential for the product. It's pleasing that the first units will be tested in Germany and the UK, particularly as the UK is the largest boiler market in the world with well over a million boilers being sold in the UK every year. We entered into an MoU with E.ON in January 2008 and this order is another step in the process of E.ON becoming a route to market for the Kingston product. I am hopeful that this will be followed by orders from customers of a similarly high calibre.
The E.ON order is especially timely given that it coincides with the UK Government's restored commitment to renewable energy, via the recent Spending Review and its ongoing support for Feed-in Tariffs, and in particular the re-emphasis on cost effective technologies where Kingston has a substantial advantage. Whilst the Board has always viewed regulatory incentives as helpful, rather than essential to the Energetix product portfolio, we welcome the renewed market and investor confidence generated by recent Government announcements."
Andrew Thomas, microCHP portfolio manager at E.ON said: "We are helping our customers to get energy fit by better insulating their homes and moderating their energy use. We see technologies like microCHP as a great way to go to the next stage of that journey by allowing them to generate their own electricity while also heating their home. Our agreement with Energetix serves to further underline our commitment to supporting the commercialisation of new low carbon technologies, which are good for the environment and good for our customers."
- Ends -
For further information:
Energetix Group plc | |
Adrian Hutchings, Chief Executive Officer | Tel: +44 (0) 151 348 2111 |
www.energetixgroup.com |
Ambrian Partners Limited | +44 (0) 20 7634 4700 |
Andrew Craig / Ben Wright, NOMAD | www.ambrian.com |
Media enquiries
Abchurch Communications Limited | +44 (0) 20 7398 7710 |
Sarah Hollins / Joanne Shears / Quincy Allan | |
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.(c.42% owned by the Group)
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 and associates are all based near Chester, NW England.
www.energetixgroup.com
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