Energetix

New energy developer Energetix has already won orders from a South African electricity utility and is ‘confident’ about bringing its cost-saving boiler to market by the second half of next year.

Led by former British Nuclear Fuels director Adrian Hutchings, Energetix’s most commercially advanced product is Pnu Power, a compressed-air battery providing uninterruptible power for industrial use. Pnu Power improves on current designs by being less prone to explode, longer lasting and less costly to run. The first order, from South Africa’s largest electricity supplier, was for just one unit, but Hutchings espies ‘further opportunities’ in due course.

Possibly more exciting is Genlec, a domestic ‘micro combined heat and power’ (mCHP) boiler that looks like a normal boiler but produces electricity as well. Genlec can snip more than £150 a year off the average household electricity bill as well as reduce carbon emissions.

Having proved extremely successful in field trials, Genlec is the only wall-mounted mCHP unit at such an advanced stage. Hutchings intends to partner with ‘three to five’ manufacturers and has already signed agreements with two in Europe.

The third strategic prong is Vphase – operating as a 55%-controlled AIM-listed subsidiary – which sits in any domestic fuse box and saves 10% of a building’s electrical energy by controlling surplus voltage.

Loss-making to the tune of £1.3m at the interim, a £12m placing in August added to the £2.9m already in the coffers and will allow Energetix to step up marketing and commercialisation efforts. Appetite for the placing and an energetic share performance show the backing this company has from the market. Potentially very exciting, but still high risk.

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