26 Apr 2007 07:00
Embargoed Release: 07:00hrs Thursday 26th April 2007
Zenergy Power plc (`The Group') Institutional Placing to raise ‚£6,000,000
Zenergy Power plc (AIM:ZEN.L), the specialist manufacturer and developer of commercial applications for high-temperature superconductive (`HTS') materials, is pleased to announce that following an institutional road show of the Group, 4,285,746 new ordinary shares of 1p each in the Group (`Placing Shares') have been conditionally placed by Ambrian Partners with a number of institutional investors at a price of 140p per Placing Share, raising a total of ‚£6,000,000 for the Group (`the Placing').
The Group will use the placing proceeds for general working capital purposes, including the acceleration of its ongoing research and development activities within the field of HTS materials with the aim of bringing to market a range of highly energy efficient products with applications for the production, distribution and consumption of electrical energy.
In particular, the proceeds will be used in the groundbreaking work that the Group is conducting with Converteam SAS to bring to market a range of highly efficient, light-weight and compact wind generators for the offshore wind market.
The Placing is conditional on the Placing Shares being admitted to trading onAIM. The Placing Shares will rank on their issue pari passu in all respectswith the existing ordinary shares in the Group. Application will be made forthe Placing Shares to be admitted to trading on AIM, which is expected to be onor around 1 May 2007. -Ends- Further information:Dr. Jens Mƒ¼ller Zenergy Power Plc + 49 22 26 90 60 200 Andrew Tan Hansard Group + 44 207 245 1100 www.hansardgroup.co.uk Tim Goodman Ambrian Partners + 44 207 776 6423 About Zenergy Group plc
Zenergy Power plc is a global specialist manufacturer and developer of commercial applications for superconductive materials. Comprising three operating subsidiaries located in Germany (Trithor), USA (SC Power Systems) and Australia (Australian Superconductors), Zenergy is developing a number of energy efficient applications to be adopted in renewable energy power generation, energy distribution and large scale, energy intensive industrial processes.
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.
The global HTS market is substantial and growing, with a number of market studies projecting multi-billion dollar markets for the application of HTS materials and products. The proliferation of the use of superconductor materials is largely being driven by the following key factors:
(a) HTS materials are highly complementary to energy efficient technologies as a substitute for copper
(b) HTS wires have power densities of over 100x that of copper
(c) Current developments are leading to substantially reduced costs in the production of HTS wires and are targeting to be cheaper than copper over the next few years.
(d) HTS applications deliver exceptional energy efficiencies and thus reduced power consumption and running costs
(e) HTS technology is set to play a significant role in reducing CO2 emissions in line with international targets
(f) HTS applications are capable of delivering vastly increased levels of power with increased reliability and reduced material usage
ZENERGY POWER PLC