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Energetix Share News (EGX)
Share News for Energetix (EGX)
| Share Price: 14.00 | Bid: 13.50 | Ask: 15.00 | Change: -0.25 (-1.75%) |  | ||||||
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UPDATE 2-VPhase device to cut electricity bills approved
Mon, 15th Jun 2009 11:54
By Ben Deighton
LONDON, June 15 (Reuters) - British technology company VPhase expects to
The Smart Voltage Management device is attached to a domestic fuse box and regulates the level of voltage coming into a house, cutting bills by about 10 percent, said VPhase, a subsidiary of Energetix Group.
VPhase said the product had been awarded a CE certification, a prerequisite safety marking for all electrical appliances before they can be sold in the European Union.
'Next year I would have thought our gross profits are going to be in the 2 to 2.5 million pounds ($4.09 million) range ... it's going to be close (to break even),' Executive Chairman Adrian Hutchings told Reuters.
Broker Ambrian has previously predicted that the company will sell 7,000 units this year.
'I would have thought that's something I would like to be able to beat,' Hutchings said in a telephone interview.
The company added that the certification will allow it to carry out household field trials with its UK utility partners, Scottish & Southern Energy and British Gas, owned by Centrica.
Shares in VPhase were up 7.5 percent at 7.9 pence by 1009 GMT.
(Editing by Julie Crust and Rupert Winchester) ($1=.6119 Pound) Keywords: VPHASE/
(ben.deighton@reuters.com; +44 207 542 7009; ben.deighton.reuters.com@reuters.net)
COPYRIGHT
Copyright Thomson Reuters 2009. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
By Ben Deighton
LONDON, June 15 (Reuters) - British technology company VPhase expects to
come close to breaking even next year after getting safety clearance to start selling a device designed to cut household electricity bills by 10 percent.
The Smart Voltage Management device is attached to a domestic fuse box and regulates the level of voltage coming into a house, cutting bills by about 10 percent, said VPhase, a subsidiary of Energetix Group.
VPhase said the product had been awarded a CE certification, a prerequisite safety marking for all electrical appliances before they can be sold in the European Union.
'Next year I would have thought our gross profits are going to be in the 2 to 2.5 million pounds ($4.09 million) range ... it's going to be close (to break even),' Executive Chairman Adrian Hutchings told Reuters.
Broker Ambrian has previously predicted that the company will sell 7,000 units this year.
'I would have thought that's something I would like to be able to beat,' Hutchings said in a telephone interview.
The company added that the certification will allow it to carry out household field trials with its UK utility partners, Scottish & Southern Energy and British Gas, owned by Centrica.
Shares in VPhase were up 7.5 percent at 7.9 pence by 1009 GMT.
(Editing by Julie Crust and Rupert Winchester) ($1=.6119 Pound) Keywords: VPHASE/
(ben.deighton@reuters.com; +44 207 542 7009; ben.deighton.reuters.com@reuters.net)
COPYRIGHT
Copyright Thomson Reuters 2009. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
BRIEF-Energetix to raise up to 14 mln stg
LONDON, Sept 28 (Reuters) - Energetix Group PLC: * Proposed firm placing and open offer ((London Equities Newsroom; +44 20 7542 7717)[28 Sep '12]
BRIEF-Energetix says operations director Neil Bright retires
LONDON, Oct 28 (Reuters) - Energetix Group PLC: * Neil Bright, group Operations director, has today retired from the board and has l[28 Oct '11]
BRIEF-Energetix raises 2.5 mln stg via placing
LONDON, Feb 22 (Reuters) - Energetix Group Plc: * Placing to raise 2,500,000, and notice of gm ((London Equities Newsroom; +44 20 754[22 Feb '11]
BRIEF-Energetix gets order from E.ON
LONDON, Dec 1 (Reuters) - Energetix Group Plc: * Purchase of Kingston microchp appliances by e.on * Contract is for an initial small b[1 Dec '10]
BRIEF-Energetix gets order from National Grid UK
LONDON, Aug 19 (Reuters) - Energetix Group Plc: * Has received an order from National Grid UK * Will form part of a trial programme to[19 Aug '09]
UPDATE 2-VPhase device to cut electricity bills approved
By Ben Deighton LONDON, June 15 (Reuters) - British technology company VPhase expects to come close to breaking even next year after gettin[15 Jun '09]
UPDATE 1-Energetix unit VPhase gets CE approval
LONDON, June 15 (Reuters) - British energy efficiency specialist VPhase has received CE certification for its Smart Voltage Management product,[15 Jun '09]
BRIEF-VPhase gets CE mark, to start sales immediately
LONDON, June 15 (Reuters) - Energetix Group Plc: * Unit VPhase gets ce certification for its smart voltage management product * Unit V[15 Jun '09]
