Less Ads, More Data, More Tools Register for FREE

Pin to quick picksYGEN.L Regulatory News (YGEN)

  • There is currently no data for YGEN

Contract Win

10 Mar 2010 07:00

RNS Number : 2903I
ViaLogy PLC
10 March 2010
 



VIALOGY PLC ("VIALOGY")

VIALOGY SIGNS RENEWABLE ENERGY CONTRACT WITH ENEL NORTH AMERICA TO CHARACTERIZE AND DE-RISK GEOTHERMAL PROSPECTS

n ViaLogy technology extended to green energy

n Goal is reduction of exploration/drilling risks/costs

 

London, March 10. ViaLogy (LSE:VIY) announces signing of a contract with Enel North America, a subsidiary of Enel Green Power, the Enel Group company operating renewable energy sources in 14 countries, including the US. Enel Green Power is one of the world's leading players in the renewables industry and a global leader in geothermal power generation. The Enel Group is Italy's largest power company and Europe's second listed utility by installed capacity.

Under its initial contract, ViaLogy will extend its QuantumRD sub-surface detection technology to seismic survey design, and the identification and location of appropriate geothermal drilling locations at an Enel North America site in Nevada.

Geothermal energy generation obliges commitment of very large capital resources, and a determining factor in the geothermal business equation is the inordinately high cost of exploration, drilling and extraction which entails significant risk. Geothermal well positioning requires robust detection and characterization of natural cracks and fractures in volcanic regions with extremely hard rock; accurate mapping of fractures and discontinuities forming pressurized traps; and mapping formations that can support drilling holes with large diameters in hard rock.

QuantumRD's ability to assess complex subsurface stratigraphy, porosity and fluid saturation levels more accurately than other current technologies, utilizing seismic, magneto-telluric and other chemical tracer data, should reduce risk and alter the sector's investment risk profile. Over time, this could contribute to the broader use of clean, environmentally sustainable geothermal-based electricity.

ViaLogy's Energy business focus remains squarely on the upstream hydrocarbon industry sector where its QuantumRD technology is projected to build upon its success thus far to become an industry standard. But the opportunity to bring its technology to bear in such a vital and financially promising part of the green energy industry is important to the company's future success and earnings, as well as an opportunity to do its part in mitigating the effects of global warming.

ViaLogy CEO, Robert W. Dean, said, "The Enel contract opens up a new market for us in renewable energy development. It broadens our business base, and provides yet another means of developing and refining our QuantumRD technology, and could be a significant source of 'green' growth."

 

 

For further information please contact

ViaLogy plc

Robert W Dean, President & CEO - US +1 626-296-6337 (mobile: +1 703-589-3807)

Terry Bond, Chairman - UK & Europe +44 (0) 1235-834734 (mobile: 07860 842756)

 

Nominated Advisor to ViaLogy PLC (Seymour Pierce)

Mark Percy / Catherine Leftley +44 (0) 20-7107-8000

 

 

About ViaLogy: Network Centric Signal Processing

ViaLogy is a leading innovator of network-centric, real-time signal processing platforms for sensor applications. ViaLogy is currently deploying and designing computational systems, powered by its patented technologies, for applications in life sciences, public safety and security, surveillance, defense and geoseismology. ViaLogy focuses on market driven problems where automation, timeliness, quality and reliability of information processing are essential. ViaLogy's core competency incorporates rapidly and accurately detecting weak signals buried in high noise background and clutter. This technology can be employed to solve problems involving sensor integration and information overload challenges involving video, telephony and control sensors, as well as for enhancement of numerous signal processing applications. For more information, visit our website at www.ViaLogy.com. Except for statements of historical fact, the information presented herein constitutes forwardlooking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results.

 

About Enel Green Power and Enel North America

Enel Green Power is the renewable power company of Enel S.p.A. aimed at developing and operating power generation from renewable sources in Italy and around the world. The company's business incorporates all of Enel's activities in the wind, solar, geothermal, hydroelectric and biomass fields in Europe, North America and Central and South America. With over 4,500 MW of installed capacity and 17.2 TWh of produced electricity in 2008, Enel Green Power is a leading global company in renewables. Enel North America, Inc. is a subsidiary of Enel Green Power and operates all EGP renewable energy plants in 20 U.S. States and in three Canadian Provinces. For further information, please visit http://enelgreenpower.com/en/.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
CNTSSDFSUFSSEED
Date   Source Headline
18th May 20114:57 pmRNSExercise of Options & TVR
7th Apr 20118:00 amRNSNew Contract
4th Apr 20117:00 amRNSTrading Update
17th Feb 20114:09 pmRNSExercise of Options and TVR
25th Jan 20117:00 amRNSPlacing to raise £1.25 million
20th Jan 20117:00 amRNSTrading Update
4th Jan 20117:00 amRNSBusiness Update
31st Dec 20107:00 amRNSHalf Yearly Report
17th Nov 20109:15 amRNSTrading Statement
18th Oct 201010:39 amRNSResult of AGM
11th Oct 20107:00 amRNSEnters Offshore Arena with Global Energy Major
20th Sep 20107:00 amRNSFinal Results
14th Sep 20104:30 pmRNSHolding(s) in Company
16th Aug 201012:22 pmRNSExercise of Options & TVR
12th Aug 20107:00 amRNSVialogy Signs Supermajor Contract
12th Jul 20107:00 amRNSGrant of Options
1st Jul 20107:00 amRNSBusiness Update
28th May 20107:00 amRNSTrading Statement
28th Apr 20101:48 pmRNSExercise of Options & TVR
26th Apr 20101:26 pmRNSIssue of Equity & TVR
20th Apr 201011:30 amRNSDirectorate Change
7th Apr 20107:00 amRNSTRADING UPDATE
10th Mar 20107:00 amRNSContract Win
26th Feb 20107:00 amRNSPlacing to raise ?2.9 million
17th Feb 20107:41 amRNSIndependent Analysis of Permian Well results
10th Feb 20102:14 pmRNSExercise of Options/TVR
10th Feb 20107:00 amRNSNEW PERMIAN BASIN WOLFCAMP WELL
3rd Feb 201010:58 amRNSAdditional Listing
29th Jan 201010:08 amRNSExercise of Options & TVR
25th Jan 20101:19 pmRNSExercise of Options
21st Jan 20107:00 amRNSTrading Statement
19th Jan 201011:25 amRNSExercise of Options & TVR
5th Jan 20109:00 amRNSTrading Statement
31st Dec 20097:00 amRNSHalf Yearly Report
15th Dec 200910:41 amRNSExercise of Options & TVR
29th Oct 20093:00 pmRNSGrant of Options
28th Oct 200910:14 amRNSResult of AGM
28th Sep 20097:05 amRNSTrading Update
28th Sep 20097:00 amRNSFinal Results
2nd Sep 20092:39 pmRNSHolding(s) in Company
25th Aug 20092:02 pmRNSExercise of Options and TVR
24th Aug 20095:00 pmRNSHolding(s) in Company
18th Aug 20097:00 amRNSIssue of Equity
14th Aug 200910:47 amRNSHolding(s) in Company
7th Aug 20099:22 amRNSExercise of Options & TVR
23rd Jul 200910:21 amRNSHolding(s) in Company
21st Jul 20099:21 amRNSContract Win
20th Jul 20091:12 pmRNSHolding(s) in Company
17th Jul 20097:00 amRNSAppointment of Broker
15th Jul 20098:42 amRNSContract Win

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.