10 Sep 2009 07:00
Zenergy Power plc
('Zenergy Power' or the 'Group')
Australian Grant for FCL Development
Zenergy Power (AIM:ZEN.L), the superconductor energy technology company, is pleased to announce that its wholly owned subsidiary, Zenergy Power Pty Ltd, has been awarded a three year research and development grant from the Australian Research Council to support the ongoing development of the Group's high-voltage Fault Current Limiter. As a result of the grant Zenergy Power will gain access to up to A$800,000 of research resources including highly experienced personnel from the University of Wollongong, Australia. In particular, the grant will support Zenergy Power's research into novel magnetic materials and unique arrangements of cores and coils that will contribute to making future FCLs smaller, lighter, and cheaper to produce.
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Further information
| Andrew Tan | Zenergy Power Plc | + 44 207 602 7420 |
| David Bick | Square1 Consulting Ltd | + 44 207 929 5599 |
| Andrew Godber/Katherine Roe | Panmure Gordon & Co | + 44 207 459 5742 |
| Kam Bansil/Rory Scott | Mirabaud Securities Limited | + 44 207 866 0244 |
About Zenergy Power plc
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 solutions that are built around a range of patented superconductor technologies and 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 State's 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 generators capable of delivering significant cost savings to the production of renewable energy. These cost savings will enable renewable energy to more effectively compete with traditional thermal power generation and lead to a greater reduction in carbon emission levels 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 State's 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 dam in January 2010. It is anticipated that the installation of the superconductor generator will increase the electricity output of this generator by 36%.
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