25 May 2012

Revenue boost for Energetix

10/12/2008

Alternative power group Energetix has signed a first commercial contract for its Pnu Power compressed-air system, to supply a major US aerospace company.

Worth up to $380,000 (£260,000) and with the first of two phases beginning in the new year, the contract is part of a larger order received by US-based energy management facilitator P&E Automation. Pnu Power’s energy storage systems will be integrated with energy generation from sources including wind, heat recovery, hydro and solar power.

‘This is the first major order for Pnu Power outside of its successful trials in the telecoms and utility switching back-up power market,’ noted Energetix chief executive Arian Hutchings, adding that it ‘underpins our confidence in the ability for Pnu Power to deliver a valuable and environmentally friendly power supply to a broad customer profile’.

With half-year results to June showing just £29,000 revenues, the US contract is a significant boon to the company’s finances. The deal also comes after a number of other positive wins for the group, with its energy-saving boiler subsidiary being signed up by a major German boiler-maker in November and a Chinese patent being granted for Pnu in October.

Energetix shares, at 45p, are down some way from last year’s 147.5p peak, but retain their long-term appeal.

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Sector: General Industrials

Companies: Energetix

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