16th Sep 2008 07:00
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Press Release |
16 September 2008 |
VPhase plc
('VPhase' or 'the Company')
VPhase to team with Scottish and Southern Energy plc (SSE)
VPhase plc (VPHA.L), a leading developer of energy saving products for home and small commercial applications based upon voltage management, is pleased to announce that it has signed a letter of intent to work with Scottish and Southern Energy plc ("SSE"), one of the largest energy companies in the UK.
It is intended that the relationship will support the commercialisation of VPhase's energy saving products. In particular SSE will fund field trials of VPhase products, in the form of an OFGEM approved Demonstration Action to achieve approval under the UK Carbon Emissions Reduction Targets (CERT) scheme.
Following a successful Demonstration Action and CERT approval, SSE will continue to work with VPhase to identify and explore opportunities to use the VPhase device to promote energy efficiency.
Lee Juby, CEO of VPhase, commented: 'We are delighted to be working with SSE, one of the UK's leading energy providers and a business with recognised support of new and renewable technologies. This is an excellent endorsement of the VPhase technology. Obtaining CERT approval for our products would enable VPhase to work closely with SSE and other UK utility businesses as they seek to help consumers reduce their energy consumption."
Stephen Millward, Energy Efficiency Manager for SSE, commented: "We are dedicated to helping our customers reduce their energy consumption and lower their energy bills. We are delighted to be working with VPhase with the aim of making the product available to SSE customers."
The VPhase Product
The first commercial VPhase energy saving product, the VX1, is a low-cost voltage reduction and regulation system that will be launched at Interbuild 2008, the UK's largest building industry exhibition, in October this year. The Company's tests have shown that the fitting of a VPhase device to the consumer unit in an average UK home would result in a substantial reduction in electricity usage and a corresponding 10% reduction in electricity bills.
In the UK the nominal incoming voltage to properties is set to 230 volts; however, the actual level of voltage delivered can legally vary between 207 volts and 253 volts. Most electrical products in the UK are designed to operate at the lower level and for many appliances any excess voltage does not necessarily give additional performance; rather, the surplus energy is wasted as heat. The substantial reduction in electricity usage comes about as under the majority of operating conditions, VX1 automatically stabilises the voltage in homes or offices to a lower level (usually 220V for UK and EU markets).
- Ends -
For further information:
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VPhase plc |
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Dr Lee Juby, Chief Executive Officer |
Tel: +44 (0) 151 348 2139 |
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Richard Smith, Chief Financial Officer |
+44 (0) 151 348 2116 |
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www.vphase.com |
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Scottish and Southern Energy plc |
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Stephen Millward, Energy Efficiency Manager |
Tel: +44 (0) 118 953 4271 |
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www.scottish-southern.co.uk |
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Novum Securities Limited |
+44 (0) 20 7562 4700 |
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Michael Brennan |
+44 (0) 20 7562 4712 |
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Henry Turcan |
+44 (0) 20 7562 4713 |
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www.novumsecurities.com |
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Zimmerman Adams |
+44 (0) 207 060 1760 |
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Graeme Thom |
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Charity Walmsley |
www.zimmint.com |
Media enquiries (VPhase plc):
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Abchurch Communications Limited |
+44 (0) 20 7398 7700 |
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Justin Heath |
+44 (0) 20 7398 7781 |
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Monique Tsang |
+44 (0) 20 7398 7712 |
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www.abchurch-group.com |
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