Flowgroup Regulatory News (FLOW)

8 Feb 2007 07:00

Energetix Group plc08 February 2007 For Immediate Release 8 February 2007 Energetix Group plc ("Energetix" or the "Company") Trading Update and Notice of Results Energetix Group plc (AIM: EGX), the alternative energy specialist, todayprovides an update on its activities ahead of its maiden Preliminary Results. Since its flotation in August 2006, the Company has progressed both of its corebusinesses GenlecTM and Pnu PowerTM. Management has been very pleased with the development of the GenlecTM microcombined heat and power ("mCHP") product, with a preproduction system beinginstalled in a domestic house in January 2007, for full testing ahead of a widerfield trial in late 2007. The initial trial will be for five months, and willenable the Company to confirm the products performance, as the productapproaches full market readiness and early system sales. As a consequence of this progress, the Board of Energetix is pleased to announcethat it's wholly owned subsidiary, Energetix Genlec Limited ("EGL"), hasappointed a separate management team, who will lead the final development andcommercialisation of the GenlecTM product range. The Board of Energetix isdelighted that Bill Fortescue has joined EGL as Chief Executive. Bill is aFellow of the Institute of Energy and brings broad based experience of energybusiness development, having previously been Chief Executive of RWE SolutionsUK, the energy technology subsidiary of the German Utility. Energetix is also pleased to announce that Dr. Andrew Hinton has been appointedas the Managing Director of Energetix Pnu Power Limited ("EPP") another whollyowned subsidiary of Energetix. Andrew was previously with Solartron Group, thedeveloper and supplier of electronic instrumentation, which is a subsidiary ofRoxboro Group plc and Bestobell Valves, Flow Industries Limited, manufacturersof specialist valve technologies for cryogenics, mining and oil and gas sectors.EPP has established its test facilities and is now progressing the life cycletesting of Pnu Power. In parallel the team are focussing on establishing thebest commercial routes to market. Energetix has launched its redesigned website (www.energetixgroup.com) wherefurther information on the Group's subsidiaries and their products can be found. Trading Update The Directors of the Company are pleased to report that the financialperformance of the Group for the full year will be in line with marketexpectations and Energetix will announce its maiden Preliminary Results for theyear ended 31 December 2006, on Monday 2 April 2007. Commenting on trading, Adrian Hutchings, Chief Executive of Energetix Groupsaid: "The team is delighted with the progress of both GenlecTM and Pnu Power, and weare pleased that Bill and Andrew have joined us as we progress towardscommercialisation of these products. Since the flotation of the Company, we are pleased that all of our objectiveshave been met and that development of the business continues in line with theexpectations of the Board." For further information please contact: Energetix Group plc Adrian Hutchings, Chief Executive Officer 0151 348 2111Richard Smith, Chief Financial Officer 0151 348 2116 Zeus Capital 0161 831 1512Alex ClarksonBen Thompson Buchanan Communications 020 7466 5000Ben WilleyBen Romney Notes to Editors: About Energetix Group Energetix floated on AIM in August 2006, raising £5.4 million net of expenses. The Company is developing two products - namely GenlecTM - a micro CHP product for the domestic boiler market and Pnu Power an uninterruptible power supply product for the small to mid range power market. Energetix's board including individuals experienced in the formation anddelivery of new technology businesses, with specific market knowledge andenergy policy development.. About GenlecTM The GenlecTM based micro CHP appliance has similar dimensions to current boilersand is wall hung, which is important given that circa 90 per cent. of theWestern European boiler market comprises wall hung units. The appliance willalso have very similar service and maintenance requirements to normal boilers. The GenlecTM system uses the Organic Rankine Cycle principle, similar to thatused in refrigeration. An organic liquid is pressurised by a pump and thenevaporated using heat from the boiler. This pressurised vapour then passesthrough the scroll expander, driving the scroll as it decompresses turning agenerator that produces electricity. The low-pressure organic vapour then passesthrough the heat exchanger to produce useable hot water. The organic vapourcondenses to a liquid and then repeats the process. About Pnu Power Pnu Power is a new compressed air energy storage technology that is analternative to valve regulated lead acid batteries. Its primary use and marketwill be the energy storage element of the uninterruptible power supply market. This information is provided by RNS The company news service from the London Stock Exchange EN