Re Joint Venture

10 Apr 2007 10:00

GSH Group PLC10 April 2007 GSH Group plc Joint venture with Perpetual Energy GSH Group plc (AIM: GSH) ("GSH" or "the Group"), the international provider ofbespoke facilities management and energy management solutions, today announcesthat it has entered into a joint venture with Perpetual Energy Ltd("Perpetual"). GSH and Perpetual have formed a joint venture company called GSHPerpetual Energy Ltd ("GSHPE") whose mission is to lead the business world intoa new era of responsible energy use. GSH Perpetual Energy has been establishedto meet the growing market demand for cost-efficient, environmentally friendlyenergy consumption. GSHPE will operate as a separate legal entity. GSHPE's board of directors willinitially comprise of Neil Murray, Managing Director GSH UK, Dominic Chivers,Finance Director GSH UK, David Tatton, Director Perpetual Energy and DavidCoyne, Director Perpetual Energy. Recognised as a market-leader in the application of technology to effectivelymanage energy use for clients, GSH is ideally positioned to combine itsexpertise with the self-generating energy solutions offered by Perpetual toadvise customers on how to use energy, which types of renewable energy sourcesare most suitable for their needs and which can be channelled from a renewablesource. GSHPE will work with clients to determine ways to reduce energy consumption andreplace conventional energy sources with alternatives such as combined heat andpower, photovoltaic (eg solar panels), wind turbine and biomass. David Tatton, Director of Perpetual Energy Ltd, said: "This is a highlyinnovative move by both of our companies. There is a clear demand for dynamicand realistic renewable energy sources and implementation solutions forbusinesses. We are delighted to be teaming up with GSH Group." Neil Murray, Managing Director of GSH UK, commented: "We are extremely excitedabout this new venture. Together we have the expertise to deliver a total energymanagement solution that is unrivalled in the marketplace. For a number of yearsnow, we have been able to help our clients reduce their energy consumption withour energyplus product which provides savings in energy use rather than justnegotiating on tariff, but energy reduction is just the tip of the iceberg andcorporates are now seriously considering alternatives to gas and electricity.This is a tremendous opportunity for our existing and new clients to really makea difference to climate change." Ends For further information, please contact: GSH Group plcNeil Murray, Managing Director GSH UK 01782 200400Gillian Hart, Group Communications 01782 408808 Perpetual Energy Ltd 01625 820677David Tatton, DirectorDavid Coyne, Director Bell Pottinger Corporate & Financial 020 7861 3232Ann-marie WilkinsonAngus Prentice Notes to Editors: GSH Perpetual Energy Ltd GSH Perpetual Energy has been established as a 50:50 joint venture between GSHGroup plc and Perpetual Energy Ltd to provide clients with ways to reduce energyconsumption and, where appropriate, to switch from conventional energy sourcesto environmentally-friendly, lower cost alternatives. GSH Perpetual Energy willprovide end-to-end solutions from design through to implementation. Typically, aclient's solution will comprise three stages: elimination of any unnecessaryenergy consumption; optimization of energy performance of building andoperations; and determination of alternative energy sources. GSH Group plc GSH Group is the UK's fastest expanding FM specialist and a leadinginternational player. The Group is dedicated to providing high qualityfacilities management and energy consumption solutions designed to meet clients'specific needs and objectives. The Group will account for the joint venture, preIFRS adoption, on a gross equity accounting basis. www.gshgroup.com Perpetual Energy Ltd Established in 2003, Perpetual Energy provides self-generating energy solutionsfor commercial and domestic customers in the UK, Europe and North America. Thecompany employs about 15 staff but also works with a number of associates.Perpetual Energy provides energy-sourcing advice together with design andimplementation solutions for several large retailers, major utility companiesand local and central government authorities. This information is provided by RNS The company news service from the London Stock Exchange