29 Sep 2008 07:00
Embargoed Release: 07:00hrs Monday 29th September 2008
Zenergy Power plc (`Zenergy' or the `Group') Zenergy Signs Joint Development Agreement with Honeywell
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 the Group's German subsidiary Zenergy Power GmbH has entered into a five-year joint development agreement (`JDA') with Honeywell Specialty Products, a global leader in high-performance speciality material production. Under the agreement, Honeywell will work with the Group's 2G research and development team to develop a range of chemical precursors to be used in Zenergy's unique industrial scale `all-chemical' manufacturing process for the volume production of 2G HTS wire.
Honeywell's decision to partner with Zenergy endorses not only the Group's unique 2G HTS wire production techniques but also the potential scale of the overall 2G wire market. To date, Zenergy has developed an innovative reel to reel `all chemical' deposition process for the mass manufacture of 2G HTS wire. Once the development of this process fulfils the Group's exacting standards it is widely expected to become the most cost effective and efficient manufacturing process for 2G HTS wire. Currently, Zenergy are developing a number of highly energy efficient industrial products that will adopt the 2G wire material in its production to further enhance its commercial competitiveness. In Honeywell, the Group gains a strong collaborator from the chemical industry with complementary expertise to further develop superior methods of chemical processing. In addition, Zenergy will secure a reliable suppler of high quality and substantial quantities of chemical precursors necessary for the predicted scale-up of 2G HTS wire production.
This JDA together with the ongoing exclusive agreement with ThyssenKrupp VDM (for the industrial provision of textured nickel tape) presents Zenergy with one of the strongest research and development foundations from which to industrialise and launch its 2G HTS wire. Further to this, the Group has also secured an industrial supplier base for raw materials with two world leaders in their respective industries who are demonstrating their commitment to, and belief in, the massive potential of this ground-breaking market.
Michael Fitzgerald, Chairman of Zenergy Power, commented:
"This agreement is another major step forward for us towards the industrialisation of 2G HTS wire. With our two major industrial partners, Thyssen and Honeywell, we are confident we will establish the secured industrial supply chain required for the large-scale renewables generator market. This is of particular importance to the Group at this time as the first of our energy efficient products is now fully commercialised and the development of our other applications are progressing well. As we continue to achieve these technical accomplishments we are increasing the depth of our commercial engagement with a number of industrial customers and are accordingly increasingly aware of the importance of having a secure supply chain of materials for the industrial scale production of our HTS products and components. Furthermore, the commitment of resources from another established world class industrials group gives us continued confidence not only in the credibility of our unique all-chemical approach to 2G wire production, but also in the scale of the commercial opportunity that lies within the emerging HTS market."
-Ends- Further informationDr. Jens Mƒ¼ller Zenergy Power Plc + 49 2226 9060 200 Vikki Krause Hansard Group + 44 207 245 1100 Tom Hulme Landsbanki Securities + 44 207 426 9000 (UK) Limited 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 focused on the commercialisation of its energy efficient applications for 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 fully operational.
Zenergy's HTS applications enable, or aim to enable:
(a) Induction Heaters to halve the amount of energy required to heat aluminium and copper billets;
(b) Fault Current Limiters to protect power grids from blackouts;
(c) Hydropower stations to significantly increase energy output by up to 15%; and
(d) Offshore wind turbines that are in excess of 8 MW to reduce the cost of power production by up to 25%.
About superconductivity
Superconductive materials are capable of conducting dc 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.
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