Flowgroup Regulatory News (FLOW)

29 Nov 2006 11:57

Energetix Group plc29 November 2006 For Immediate Release 29 November 2006 Energetix Group plc ("Energetix" or "the Company") Stock Transfers On 29 November 2006, the Company received notification that on 27 November 2006,Axiomlab Group plc ("Axiomlab") transferred the legal title in 432,892 ordinaryshares of 5 pence each ("Ordinary Shares") to certain of Axiomlab's directorsand employees. These directors and employees were previously beneficiallyentitled to these shares as a result of the Axiomlab Executive BonusArrangements. Axiomlab now has a shareholding of 7,400,069 which represents16.44% of the issued share capital of the Company. 103,853 Ordinary Shares ofthe shares transferred are to Alan Aubrey, director of Axiomlab and Chairman ofEnergetix. Alan Aubrey's shareholding is now 1,074,486 and represents 2.39% ofthe issued share capital of the Company. For further information please contact: Energetix Group plc 0151 348 2116Rick Smith, Chief Financial Officer Zeus Capital 0161 831 1512Alex ClarksonBen Thompson Buchanan Communications 020 7466 5000Ben WilleyBen Romney About Energetix Group Energetix floated on AIM in August 2006, raising £5.4 million net of expenses.The Company is developing two products - namely Genlec - a micro CHP product forthe domestic boiler market and Pnu Power and UPS product for the small to midrange power market. Energetix has a strong board including individuals experienced in the formationand delivery of new technology businesses, with specific market knowledge andgovernmental influence. A team is in place with over 80 man years of experiencein alternative energy product development. History and Background The business was established by Adrian Hutchings in 1997, having spent theprevious four years at British Nuclear Fuels plc ("BNFL") developing alternativeenergy products and identifying new business ventures for energy systems. Energetix raised £1.3m of private equity funds to develop products for both theenergy storage and distributed generation markets. Energetix had identified theneed for new products for these markets and initiated a search for intellectualproperty that could be developed to produce suitable products. A number oftechnologies were considered, including the Fuel Cell and the Stirling Engine.In 2002, technology was identified at Battelle with the potential to be a lowcost product, based on mass produced components. Energetix subsequently enteredinto a joint venture with Battelle to develop the technology in 2003. Energetixstarted development of Genlec in 2003 and identified that the core technologywithin the Genlec system could also be utilised for energy storage applications. Core Technology Energetix has two key products that have been built around the same core scrolltechnology. Scroll Compressors are mass produced for the refrigeration and airconditioning marketplaces. Energetix take these Scroll Compressors and withminor modifications run them in reverse to operate as a scroll expander. When innormal operation, they are driven by a motor to compress a gas. However, oncemodified to operate in reverse, compressed gas is injected into the scroll whichthen expands, driving the scroll expander which in turn drives a generator toproduce electricity. Despite the simple nature of this core component, Energetixhas international patent protection for both products using this system. Products and Markets Energetix has developed two products, Genlec and Pnu Power which are aimed atmarkets currently valued at £8bn per annum and £1bn per annum respectively.Genlec is a new module which is incorporated into a boiler and uses a technologyknown as Micro Combined Heat and Power ("M CHP"). Energetix has received aproposal from a prominent boiler manufacturer to become a sales andmanufacturing partner for this product. Pnu Power is an alternative energystorage technology to batteries, that uses compressed air. Its primary use andmarket will be the energy storage element of the uninterruptible power supplymarket. This information is provided by RNS The company news service from the London Stock Exchange