23rd Mar 2010 09:15
Press Release |
23 March 2010 |
Energetix Group plc
("Energetix" or "the Group")
Energetix Genlec Ltd unveils 'Kingston' micro-CHP boiler
Energetix Group plc (AIM:EGX), a group of companies with three cost-effective products (Genlec, Pnu Power, and VPhase) to meet the growing demand for alternative and efficient energy, is pleased to announce that its subsidiary Energetix Genlec Limited ("the Company") has developed an integrated micro-CHP boiler appliance for the UK domestic market, under the trade name "Kingston". The unit will be unveiled to analysts at a meeting in London today.
Kingston is designed to generate 1kWe of power which can be utilised in the home, and any excess not used can be exported to the national electricity grid. It is anticipated that the Kingston Organic Rankine Cycle ("ORC") based appliance will have a significantly shorter payback period compared to other micro-CHP technologies. The unit is compact, wall-hung, light-weight, and tailored for installation in UK homes. It integrates the Genlec ORC micro-CHP technology, which generates electricity using heat produced by a gas boiler. The target performance for the Kingston appliance is to have an overall efficiency equivalent to a high-efficiency condensing boiler and an electrical efficiency of 10%.
Genlec has taken advantage of the improving conditions for micro-CHP in the UK market, particularly with the introduction of feed-in tariffs. The Kingston is undergoing laboratory tests to determine its heating and electrical performance, and is expected to have full UK certification, including CE compliance during 2010. Potential manufacturing and marketing partners have shown significant interest the appliance.
Adrian Hutchings, CEO of Energetix Group, commented: "The Group took the decision to develop and introduce a fully integrated appliance for UK homes, having recognised that the market conditions for micro-CHP were likely to improve. This has resulted in the unveiling today of the Kingston. We are currently in discussions with a major white goods appliance manufacturer and with power utilities for both its production and sale in the UK.
"At Energetix we view the Feed-in Tariffs as useful in helping to drive the uptake of our micro-CHP products; however, unlike other micro-CHP technologies, our Genlec product is inherently low-cost in initial outlay and maintenance and, as such, the economic case for Kingston is not reliant on any such subsidies."
- 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 7710 |
Monique Tsang / Justin Heath / 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.
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
About Genlec
The Genlec® micro-CHP is a breakthrough in green electricity generation for homes and small businesses.
Domestic combined heat and power or micro-CHP is the process of producing both heat and electricity for your home from a single appliance, and will typically replace a conventional heating boiler.
Genlec is at the forefront of Organic Rankine Cycle (ORC) based micro-CHP technology. Genlec has developed the Kingston micro-CHP appliance for the UK domestic market.
It uses proven, low-cost, reliable components in an innovative way, to deliver:
·; reduced energy costs for homeowners
·; reduced carbon emissions
·; electricity generation at the household
·; reduced electricity losses due to transmission and distribution
Kingston has been designed to be the lowest-cost micro-CHP unit targeted at the mass market.
www.genlec.com
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