1 Feb 2010 09:39
1 February 2010
CINPART PLC
('Cinpart' or the 'Company')
Memorandum of Understanding with Southern Electric Contracting
Cinpart plc (AIM:CINP), is pleased to announce that Active Energy Limited ("Active Energy"), its subsidiary company, has signed a Memorandum of Understanding ("MoU") with Southern Electric Contracting Limited ("SEC") a wholly owned subsidiary of Scottish and Southern Energy plc (LSE:SSE). The MOU includes, amongst other things, the commercial terms relating to the marketing, sale and installation by SEC of Active Energy's VoltageMaster product as the preferred voltage optimisation device for its commercial clients.
Southern Electric Contracting is one of the largest mechanical and electrical contractors in the United Kingdom operating from 63 regional offices and employing approximately 4,000 experienced engineers and electricians nationwide. The MOU also provides that SEC will become Active Energy's preferred installation sub contractor.
The VoltageMaster reduces energy consumption, providing cost and associated carbon emission reductions of, on average, 13 per cent per annum
Christopher Foster, Director of Cinpart, commented:"We are delighted that Active Energy has signed the MoU with SEC as it will provide a significantly enhanced sales network, helping Active Energy to reach its target market. VoltageMaster assists businesses in meeting the targets laid down by the Government concerning better energy management and reduction of emissions whilst also reducing their energy bills. We look forward to working with the SEC team in order to help them deliver part of their green energy agenda."
-ENDS-
Enquiries:
| Cinpart Plc |
|
| Kevin Baker, Chief Executive Christopher Foster, Executive Director
| Tel: 020 3176 3033 Tel: 020 3176 3031
|
| Merchant John East Securities Limited (Nominated Adviser) | |
| John East/Simon Clements | Tel: 020 7628 2200
|
| Mirabaud Securities LLP (Joint Broker) | |
| Rory Scott
| Tel: 020 7878 3360 |
| Rivington Street Corporate Finance Limited (Joint Broker) | |
| Dru Edmonstone | Tel: 020 7562 3389
|
| Hansard Group (Public Relations) |
|
| Kirsty Corcoran/Justine James
| Tel: 020 7245 1100 |
About Cinpart:
Cinpart plc (AIM: CINP) is a holding company that owns 72.2 percent of Active Energy Limited. Active Energy manufactures and supplies the VoltageMaster, a device that can reduce electricity consumption in commercial buildings by up to 20 percent.
Other wholly owned subsidiaries in the Group include Derlite Co Limited; based in Thailand, this company is an international manufacturer of electrical and non-electrical components specializing in ignition systems for gas appliances and Gasignition Limited; a trading company supplying electrical components to small and medium-sized European gas appliance manufacturers.
About Active Energy:
Active Energy owns the rights, intangible assets and intellectual property of VoltageMaster, a range of voltage optimisation equipment for commercial buildings that reduces voltage, and consequently energy consumed, by up to 20 percent. The VoltageMaster, a sophisticated, easy to install device that is adaptable to complement existing infrastructures, optimises the voltage used in a building by adjusting the electricity voltage supplied to the whole building. In addition, the reduced energy consumption produced by the VoltageMaster provides reduced carbon emissions.
About Southern Electric Contracting
Scottish and Southern Energy plc's contracting business, Southern Electric Contracting, is one of the country's leading mechanical and electrical contractors. The company is built on a foundation of quality, safety and good planning and offers a very wide range of services. Offering national coverage with local expertise and delivering energy efficient solutions and renewable generation projects to a range of business sectors and communities.
http://www.sec.eu.com
Active Energy (AEG)