Energetix (AIM: EGX.L), which develops and commercialises alternative and efficient energy products, has appointed Walbrook PR Ltd as its Financial PR and IR advisor.
Walbrook's brief is to advise Energetix on its communications to the Financial Media, Cleantech Research Analysts, Private Client Investment Managers in London and the Regions as well as other small cap investor groups.
Energetix Group plc is a developer of cost-effective products to meet the growing global demand for alternative energy, with particular focus on distributed generation, energy storage, and energy efficiency. Currently Energetix has two subsidiary businesses:
- Genlec - distributed generation in the home;
- Pnu Power - compressed air back-up power;
as well as a c.43% stake in VPhase plc, an energy efficiency business Energetix created and subsequently spun out of Energetix in 2010. VPhase is now a standalone, independently funded commercial venture. Energetix's stake in VPhase was valued at £7.3m as at 31 December 2010.
Genlec has developed a compact and light weight, wall mounted microCHP (Combined Heat and Power) appliance known as the Kingston Boiler. The appliance has been designed to generate 1kW of electrical power and meet the Microgeneration Certification Scheme (MCS) requirements to enable access to the Government's feed in tariff. The Kingston boiler is inherently low-cost in initial outlay and maintenance, and UK owners of approved microCHP products have the additional benefit of receiving a 10p/ kWh feed-in tariff on every kWh of electricity generated.
CE certification of the boiler has been obtained and initial units have been installed in employee homes. It is expected that CE certification of the power module will follow. Genlec will carry on field testing whilst continuing market engagement through multiple channel partners to continue commercial sales and establish a basis for growth from 2012.
Pnu Power focuses onthe provision of compressed air back-up power which can ensure an uninterruptible power supply for critical systems, particularly for the telecoms and power network markets. Pnu Power range has been extended to include the DC100 product that can now meet the demand of the rapidly growing Green Data Centre market, providing a low carbon alternative to flywheels. Pnu Power has been successful in achieving repeat trial sales and is now poised to move out of the trial sales phase and into full volume commercial sales.
For the year ended 31 December 2010, EGX reported a loss before tax from continuing operations of £3.5m. Year end cash was £1.38m and in March 2011 the Company raised £2.3m net in a Placing which provides the money needed to accelerate the commercial development of Genlec and Pnu Power. With all technology development now completed the business is well funded to move into the commercialisation stage.
Energetix Group joined AIM in August 2006. The Group and its subsidiaries and associates are all based near Chester, NW England. www.energetixgroup.com