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Exclusive
Co-operation Agreement for wind and small hydropower applications between
Converteam Group SAS and Zenergy Power plc
Converteam Group SAS, the
international developer of systems and customised solutions for the conversion
of electrical energy, and
Zenergy Power plc (AIM:ZEN.L),
the specialist manufacturer and developer of commercial applications for super-
conductive materials, are pleased to announce that they have entered into a
five-year exclusive co-operation agreement to jointly develop, manufacture,
market and sell hightemperature superconductor (‚HTS‘) generators into the
global wind and small hydropower markets. As part of this agreement, Zenergy
becomes the exclusive supplier for HTS wires and coils for all Converteam‘s
commercial activities in relation to wind power and small hydropower projects.
With an unrivalled reputation for
technical excellence and innovation, Converteam already enjoys a leading
position in the wind power market, and accordingly, Zenergy considers Converteam
to be the ideal partner to safeguard and accelerate the route to market for its
patented HTS materials and products.
The partnership follows a long
working association between Converteam and Zenergy and represents a significant
opportunity for both companies, who believe offshore wind power to be
potentially the largest and most commercially viable market for HTS technology.
The project will leverage the joint technical and marketing resources of both
companies to maximise the penetration of Converteam HTS generators in the
renewable energy markets, prospectively conferring a substantial competitive
advantage in a market where barriers to entry are high and first mover
advantages are significant.
Currently, Converteam is leading a UK Department of Trade and Industry (DTI)
funded project to design a high-power (8MW) direct-drive superconducting wind
generator, based on Zenergy’s HTS technology. The HTS generator will be
significantly smaller than conventional generators and just one quarter of the
weight. This is anticipated to achieve electricity cost savings of around 25%.
In another collaborative effort, Zenergy and Converteam have already made
encouraging progress within the small hydropower sector. In October of 2006, the
European Commission funded the installation of the world‘s first HTS
hydro-generator – developed by Zenergy and Converteam - into E.ON Wasserkraft
GmbH‘s (‚E.ON-WK‘) commercial hydro-electric dam in Bavaria, Germany. This HTS
hydro-generator
delivers significant improvements to electrical efficiency when compared to
existing copper based generators. E.ON-WK is Europe’s largest producer of
hydro-electric power with over 10 billion kilowatt hours of electricity produced
each year, and Zenergy and Converteam view the commercial interest of E.ON-WK in
HTS generators as a persuasive and significant endorsement of the improvements
to economic return that HTS can bring to renewable power generation.
Pierre Bastid, CEO & President of Converteam, commented: ‘We believe that the
extraordinary electrical efficiency and power density enjoyed by HTS wind
turbines represent the most viable solution for overcoming the most challenging
and prohibitive technical and economic challenges faced by the renewable power
generation industry. Having worked very closely with the Zenergy team over a
long period we consider their innovative approach to HTS technology combined
with our system integration capabilities to be highly effective.’
Michael Fitzgerald, Chairman of
Zenergy, commented: ‘Wind power generation represents the most mature source of
renewable energy production. Converteam shares this belief and has clearly
stated its intention to be at the forefront of this industry. Converteam’s
proven ability to produce and deliver
products of excellence is incontrovertible and we are very excited to now be
working together on developing cutting-edge technologies based around our
patented materials and products.’
About Converteam Group SAS
Converteam Group is a world leader in power conversion engineering. Building on
over a century of experience, it is firmly placed at the leading edge of
technology and
innovation with a global reputation for excellence in the conversion of
electrical energy.
Converteam develops and provides solutions built around three core components:
rotating machines, drives and process automation. Serving specialized sectors as
well
as its core markets in Marine & Offshore, Oil & Gas, Energy and Industry, its
3,500
staff members provide power conversion solutions worldwide. At year-end 06, the
Converteam sales will total more than 650,000,000 EUR.
About Zenergy Group Plc
Zenergy Power plc is a
global specialist manufacturer and developer of commercial
applications for superconductive materials. Comprising three operating
subsidiaries
located in Germany (Trithor), USA (SC Power Systems) and Australia (Australian
Superconductors), Zenergy is developing a number of energy efficient
applications to
be adopted in renewable energy power generation, energy distribution and large
scale,
energy intensive industrial processes.
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