Flowgroup Regulatory News (FLOW)

13 Dec 2007 07:01

Energetix Group plc13 December 2007 Press Release 13 December 2007 Energetix Group plc ("Energetix" or "the Group") Energetix delivers Genlec microCHP units to major boiler manufacturers Energetix Group plc (AIM: EGX), a leading developer of new and sustainablealternative energy products, is pleased to announce that its subsidiaryEnergetix Genlec ("the Company") has delivered the first micro combined heat andpower (microCHP) Genlec modules to its major OEM partners for incorporation intotheir boilers as outlined in letters of intent signed during August 2007. The first Genlec units were shipped at the beginning of December to DaalderopBV, a supplier of innovative heating equipment in the Netherlands, inpreparation for a commercial launch of Genlec-enabled Daalderop boilers to theDutch and Belgium markets in the second half of 2008. Genlec units were also delivered to another major boiler manufacturer on theEuropean mainland, although this partner cannot currently be named forconfidentiality reasons. The Netherlands is one of the most important markets for microCHP as the DutchGovernment has pledged to launch 10,000 microCHP units into households by 2009.Indeed, the Netherlands is just one of a growing number of European countriesthat have anticipated EU policy (e.g. Cogeneration Directive and BuildingsDirective) with national initiatives by investing in microCHP as a method ofgenerating energy more efficiently at the point of use - avoiding transmissionloss through their national grids and, ultimately, reducing both fuel use andcarbon emissions. In the UK particularly, microgeneration has been high notonly on the government agenda, but also the opposition parties' with, forinstance, the Conservatives proposing financial incentives for microgenerators,which could dramatically improve both the cost-effectiveness and adoption rateof domestic microCHP. According to data gathered from Energetix's test house at its Cheshireheadquarters the Genlec unit, based on the Organic Rankine Cycle (ORC), iscapable of efficiencies of up to 95%; believed to be higher than any othermicroCHP technologies currently being developed, and substantially better thanexisting condensing boilers. These second-generation Genlec units are wall-hungand lightweight, make use of mass-manufactured components already proven in themarket, can readily connect into existing domestic supplies, and can easily beconfigured to enable the feed-in of electricity to the grid. Energetix Genlecanticipates that, by working with current boiler companies, the Company willmake use of existing manufacturing facilities and supply chain routes, therebyspeeding up Genlec's entry into commercial markets. Adrian Hutchings, CEO of Energetix Group plc, commented: "This delivery andsubsequent field-testing of the Energetix Genlec units are perfectly in linewith both UK government and EU initiatives to promote microgeneration and energyefficiency in homes. Our announcement is particularly timely given theincreased focus on microgeneration in Whitehall as a result of last week'sten-year targets and incentives from the UK Conservative Party. But wide-scalemicroCHP doesn't have to be a decade away; the technology, as evident in ourGenlec units, is available now and ready for commercial deployment in the UK andmainland Europe as early as the second half of 2008." - ENDS - For further information: Energetix Group plcAdrian Hutchings, Chief Executive Officer Tel: +44 (0) 151 348 2111Richard Smith, Chief Financial Officer Tel: +44 (0) 151 348 2116 www.energetixgroup.com Zeus Capital 0161 831 1512Alex ClarksonBen Thompson www.zeuscapital.co.uk BankOra Limited 020 7099 1940Michael BrennanHenry Turcan www.bankora.com Media enquiries:Abchurch Communications 020 7398 7700Justin HeathMonique Tsangmonique.tsang@abchurch-group.com www.abchurch-group.com About Energetix Group plc Energetix Group plc is a leading developer of new and sustainable alternativeenergy products. The Group operates by identifying key market demands forefficient, reliable and cost-effective energy provision and by developing arange of core technologies that address these market needs. Energetix was established by Adrian Hutchings in 1997, having spent the previousfour years at British Nuclear Fuels plc ("BNFL") developing alternative energyproducts and identifying new business ventures for energy systems. Adrian and his highly experienced team floated the Group on AIM in August 2006and are currently focusing on the following core technologies: Genlec, a microcombined heat and power (CHP) product for the domestic boiler market; and PnuPower, an electro-mechanical energy store for uninterruptible power supply (UPS)for commercial applications. These global markets are currently valued at £8bnper annum and in excess of £1.2bn per annum respectively. Energetix focuses on solutions that are easy and cost-effective to manufacture,and which can realise payback for the end-user quickly. It targets innovationsthat can readily replace conventional, inefficient devices and which requireminimal shifts in consumer behaviour to adopt. In September 2007, the Group listed a third business, Energetix Voltage ControlLimited, on AIM, under the name of VPhase plc. Energetix retains a majorityshareholding in VPhase, which is developing a range of technologies designed toreduce energy consumption whilst at the same time seeking to make use ofexisting proven components. Its first such product is a device that controlsthe incoming voltage to a property, saving energy and increasing appliance life. Energetix Group and its subsidiaries are all based near Chester, NW England. This information is provided by RNS The company news service from the London Stock Exchange