13 Jan 2010 07:00
Zenergy Power plc
('Zenergy Power' or the 'Group')
2G Qualification of Honeywell
Zenergy Power (AIM:ZEN.L), the superconductor energy technology company, is pleased to announce that Honeywell Speciality Materials ('Honeywell') has now been qualified by the Group to supply on industrial scales the required specialist chemicals needed in the mass-production of Second Generation ('2G') superconductor wire. The qualification of Honeywell is a significant step in Zenergy Power's efforts to dramatically reduce the cost of superconductor wire through the adoption of patented 'all-chemical' continuous production processes. Further to this, the qualification also confirms that the Group is able scale its 'all-chemical' processes using a secured supply of identified chemicals without compromising either the consistency or quality of the eventual 2G wire. The 'all-chemical' process is a reel-to-reel manufacturing technique developed by Zenergy Power that involves the continuous deposition of superconductor material from chemical solutions onto metal tapes.
As previously announced, Zenergy Power and Honeywell entered into a five-year Joint Development Agreement ('JDA') in September 2008 with the specific aim of establishing for Zenergy Power the secure supply of industrial-scale quantities of chemical precursors. Today's qualification of Honeywell is a huge achievement for the technical teams of both companies and provides the basis from which the working relationship between the two can be deepened as the scaling-up of Zenergy Power's 2G production techniques continues to progress.
It is the intention of Zenergy Power to use low-cost 2G wire in the mass production of its industrial scale superconductor products to increase margins and scalability. Of particular importance is the application of 2G wire in the future production of superconductor electricity generators that are set to dramatically reduce the cost of producing electricity from offshore wind and run-of-river hydropower projects.
The Board also notes with great satisfaction the continued resource commitment from Honeywell without which such rapid progression could not have been made. Honeywell's continued commitment further validates the Group's 'all-chemical' approach and the commercial opportunity that exists for the mass adoption of superconductor generators by the renewable energy industry.
-Ends-
Further information
| Andrew Tan | Zenergy Power | + 44 207 602 7420 |
| David Bick | Square1 Consulting Ltd | + 44 207 929 5599 |
| Andrew Godber | Panmure Gordon & Co | + 44 207 459 5742 |
| Kam Bansil/Rory Scott | Mirabaud Securities Limited | + 44 207 866 0244 |
About Zenergy Power
Zenergy Power is a superconductor energy technology company, quoted on the AIM market of the London Stock Exchange and comprising three operating subsidiaries located in Germany, USA and Australia. The Group's commercial focus is the innovation and manufacture of clean energy superconductor solutions that are capable of delivering huge efficiency and cost improvements to the generation, distribution and consumption of electrical energy.
Today, the Group's groundbreaking superconductive solutions are already delivering energy savings to industrial users of electrical energy and providing cutting-edge protection from electrical power surges to the United States electricity grid. Looking to the near future, the Group is currently developing a range of highly energy efficient superconductor components for a new class of electricity generator capable of delivering significant cost savings to the renewable energy industry. These cost savings will enable renewable energy to more effectively compete with traditional thermal power generation; leading to a greater reduction in carbon emissions and a more sustainable economic future.
In 2007, Zenergy Power became the first company in the world to complete a commercial sale of an industrial scale superconductor application and has subsequently developed products capable of addressing several multi-billion dollar global markets. Following this in the first quarter of 2009, the Group proudly became the first company to install and operate a superconductor smart grid device, capable of significantly reducing the damaging effects of large-scale power surges, into the United States electricity grid. In line with this leading industry position, Zenergy Power is also manufacturing core components for what is due to be the world's first superconductor electricity generator which is due for installation into E.ON AG's commercial hydro power station in early 2010.
About superconductivity
Superconductive materials are capable of conducting electricity without any resistance and were first discovered in 1911 in what was to prove to be one of the most significant scientific breakthroughs of the 20th Century.
Superconductors enable:
Energy intensive industrial applications capable of reducing energy consumption by 50%
The protection of national power grids from blackouts
The production of revolutionary light-weight, efficient 10MW class renewable wind generators capable of reducing the cost of offshore wind power by 25%
The production of a new class of compact and efficient hydro generators capable of significantly increasing electrical power output from existing and new hydro dam structures.