2 Feb 2009 07:00
Embargoed Release: 07:00hrs Monday 2 February 2009
Zenergy Power plc (`Zenergy' or the `Group') Extension of DOE Funded Superconductor Development Project
Zenergy Power plc (AIM:ZEN.L), the specialist manufacturer and developer of high efficiency industrial and renewable energy devices employing superconductor technologies, is pleased to announce that the U.S Department of Energy (`DOE') is to provide additional funding to the Group to extend its existing research and development agreement with Sandia National Laboratories (`Sandia'). The additional funding will be used to further the research work being conducted on Zenergy's ground breaking mass-production techniques for its 2nd generation low-cost superconducting wires (`2G').
Since 2003, Zenergy has been developing its own proprietary 2G low-cost production techniques in anticipation and support of its range of high efficiency renewable energy generators, and initially received funding from the DOE in 2006. Since that time, Zenergy has successfully leveraged Sandia's world renowned research capabilities and demonstrated the potential cost advantageous of its patented `all-chemical' production techniques. Building on these initial successes, the total value of the Group's research project with Sandia will now be expanded from its initial c. US$800,000 to c. US$1,800,000 and will last through 2010. The progress being made with Sandia is positioning the Group to be able to deliver significant cost advantages to the superconductor industry and the Board is delighted to have received the explicit recognition of this potential from the DOE.
It has long been the belief of the Group that its `all-chemical' production techniques have significant cost advantages over alternative methods being developed by other industry participants and that the wide availability of low-cost superconductive materials has significant implications for the production and distribution of renewable energy. Furthermore, Zenergy considers that the continued successful development of these processes will place it at the forefront of delivering the cost competitive superconductive materials that will play a key role in the commercialisation of superconductor technologies across the variety of power applications associated with the generation, distribution and use of electrical energy. In particular, the Group is focussing on applications that will significantly improve the financial return of renewable energy production and help prepare electricity grids for its contribution.
Jens M¼ller, CEO, commented:
`Working with Sandia gives us access to some of the world's most sophisticated research resources and together with the support of the U.S Department of Energy we are rapidly developing potentially the world's most cost effective superconductor materials. It is now widely recognised by governments around the world that cost effective solutions to renewable energy production underpin any move towards sustainable economic growth paths. We are delighted to be able to contribute towards this through our 2G development. Its low cost deployment in industrial scale applications can play a major role in improving the economics and efficiencies of large-scale hydro, wind and wave power generation and distribution.'
-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 high efficiency industrial and renewable energy devices that employ superconductor technologies. 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 increase energy efficiency and electrical power output
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