4 Dec 2008 07:00
Embargoed Release: 07:00hrs Thursday 4 December 2008
Zenergy Power plc (`Zenergy' or the `Group') Directorate Change
Zenergy Power plc (AIM:ZEN.L), the specialist manufacturer and developer of commercial applications for high-temperature superconductive (`HTS') materials, is pleased to announce the appointment of Mr. Keith Hodgkinson to the main board as non-executive director.
Mr. Hodgkinson brings to the Group key industry experience having held senior positions for over 30 years in global businesses providing products and services to the consumer, military, utility and industrial electronics markets. As well as over 30 years of operating experience in Zenergy's target markets, Mr. Hodgkinson also brings to the Group a significant amount of first-hand experience of growing fledgling technology businesses into major global industrial corporations. Prior to joining the Board of Zenergy, Mr. Hodgkinson served as the Chief Executive Officer of electrical power systems specialists, Chloride Group Plc (`Chloride') for over 17 years. During his time as CEO, Mr Hodgkinson grew Chloride from a small loss making business into a world-leading, double digit growth, global entity with annual sales of over ‚£ 268m delivering in excess of ‚£36m of operating profit. Under Mr Hodgkinson's stewardship, Chloride also entered into the FTSE250 in 2007. Prior to his time at Chloride, Mr. Hodgkinson held a number of senior management positions within GEC Group for over 26 years enabling him to gain an enviable amount of industry experience as well as building a wealth of senior level industry contacts.
Michael Fitzgerald, Chairman, commented:
`In joining our Board, Keith brings a truly valuable mix of corporate know-how and industry experience to bolster our business during this stage of commercialisation. He complements our existing Board perfectly and has a huge amount of experience of doing business within all of our target markets. Further to his experience, Keith has also built up a respected and trusted reputation among a number of the largest participants in our target markets. As a non-executive member of our main board Keith now confers this reputation upon us in a manner which will serve to enhance our growing presence and marketing efforts amongst potential industrial customers.
I very much look forward to Keith's contribution towards our business and thank him for the faith he has shown in both our technology and our underlying commercial potential.'
As part of his ongoing contribution to the Group, Mr. Hodgkinson will also reside on the board of audit committee.
Information regarding Mr. Keith Hodgkinson:
Full name: Keith Harry Hodgkinson
Age: 65
AIM Rules Schedule 2 Disclosure - for the purposes of paragraph (g) of schedule2 of the AIM rules Mr. Keith Hodgkinson holds or has held the followingdirectorships:Current Directorships Past Directorships over last 5 years De La Rue Plc Chloride Group Plc
No further disclosures are required to be made in relation to Mr. Keith Hodgkinson under schedule 2 (g) of the AIM rules.
-Ends- Further informationAndrew Tan Zenergy Power Plc + 49 2226 9060 668 Vikki Krause Hansard Group + 44 207 245 1100
Andrew Godber/Katherine Roe Panmure Gordon & Co + 44 207 459 5742
About Zenergy Power plc
Zenergy Power plc is a global specialist manufacturer and developer of commercial applications for superconductive materials. Comprising three operating subsidiaries located in Germany, USA and Australia, Zenergy is highly focussed on the commercialisation of a number of energy efficient applications to be adopted in energy intensive industrial processes, power distribution and renewable power generation. Zenergy achieved the world's first sale of an industrial scale HTS induction heater which is now in operation.
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:
(a) Induction Heaters to be twice as efficient for the metals industry
(b) Fault Current Limiters to protect power grids from blackouts
(c) Direct-drive wind generators to be significantly reduced in size and weight allowing the operation of wind generators in excess of 8 MW
(d) Existing hydro-power sites to upgrade to energy efficient Hydro-generators
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