Software Licence Agreement with Gentrack Limited ("Gentrack")
Energetix Group plc, (AIM: EGX),which develops and commercialises alternative and efficient energy products, announces that, as part of the process of creating a new energy supply company, it has entered into a software, services and support agreement for Gentrack's customer relationship management and billing system - Gentrack Velocity.
As announced on 29 February 2012, Energetix is creating a new energy supply company, provisionally called Kingston Energy, which will provide free Kingston microCHP boilers to its customers in return for a commitment to purchase gas and electricity for a fixed period.
Gentrack Velocity, Gentrack's flagship billing and customer management solution, is designed specifically for energy retail, water and distribution utility companies. Developed for ease of implementation and low cost of ownership, it is proven in regulated and competitive markets and has over 45 sites around the world including the UK, Ireland, Australia, New Zealand, Asia and the USA.
As we continue to develop the energy supply business, the selection and future implementation of this system is another important step in the plan to create a successful dual fuel energy business.
Tony Stiff, Chief Executive Officer of Kingston Energy, said, "It is very important that we have state of art world class systems to deliver excellent customer service. We have been very impressed with Gentrack during the selection process and look forward to implementing the software with them over the coming months."
James Docking, Chief Executive Officer of Gentrack Limited, said "We are excited by this opportunity to support the growth plans of Energetix with our CRM and Billing software which has been specifically designed for modern energy and water companies. Energetix innovative solutions and ideas are a great fit with Gentrack and we welcome them into our UK customer base."
Energetix Group plc is a developer of cost-effective products to meet the growing global demand for alternative energy, with particular focus on distributed generation, energy storage, and energy efficiency. Currently Energetix has two subsidiary businesses:
Genlec - distributed energy generation for domestic dwellings.
Pnu Power - back-up power for the Telecom, Technology and power transmission markets.
In addition, Energetix has a c.27% stake in VPhase plc, an energy efficiency business Energetix created and subsequently spun out of Energetix in 2010. VPhase is now a standalone independently funded commercial venture.
With all technology development now completed Energetix is well positioned as both its subsidiaries move into the latter phases of commercialisation with their best-of-breed solutions.
Genlec has developed a highly efficient, compact and light weight, wall mounted microCHP (Combined Heat and Power) appliance known as the Kingston Boiler. The Kingston boiler is specifically designed to generate 1kW of electrical power to meet the UK's Microgeneration Certification Scheme (MCS) to enable UK owners to receive the Government's 12.5p/ kWh feed in tariff for approved microCHP devices. The Kingston boiler therefore has an inherent low total cost of ownership (initial outlay plus maintenance) and has already demonstrated industry leading payback cycles which many analysts believe is the key to unlocking this significant market opportunity.
On 29 February Energetix announced that it would create a unique dual fuel energy company, provisionally named Kingston Energy, which will provide free Kingston microCHP boilers to its customers in return for a commitment to purchase gas and electricity for a fixed period.
Pnu Power focuses on the provision of compressed air back-up power which can ensure an uninterruptible power supply for critical systems, particularly for the telecoms, data centre and power transmission markets. Pnu Power range has been extended to include the DC100 product that can now meet the demand of the rapidly growing Green Data Centre market, providing a low carbon alternative to flywheels. Pnu Power has been successful in achieving repeat trial sales and is now poised to move out of the trial sales phase and into full volume commercial sales.
Energetix Group joined AIM in August 2006. The Group and its subsidiaries and associates are all based near Chester, NW England and Ipswich, Suffolk.
Gentrack is a leading developer of specialist billing, customer management and collections solutions for energy, water and airport utility businesses. Gentrack's flagship products are delivering exceptional value to over 100 utility customers worldwide, backed by technical and business expertise in the UK, Europe, Australia, New Zealand and the USA.
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