|
New
Release -- Superconductor Week does not edit or endorse the following
news release: Zenergy Power:
Institutional Placing to raise £6,000,000
London, UK, 26 April 2007:
Zenergy Power plc (AIM:ZEN.L),
the specialist manufacturer and developer of commercial applications for
high-temperature superconductive (`HTS') materials, is pleased to announce that
following an institutional road show of the Group, 4,285,746 new ordinary shares
of 1p each in the Group (`Placing Shares') have been conditionally placed by
Ambrian Partners with a number of institutional investors at a price of 140p per
Placing Share, raising a total of £6,000,000 for the Group (`the Placing').
The Group will use the placing proceeds for general working capital purposes,
including the acceleration of its ongoing research and development activities
within the field of HTS materials with the aim of bringing to market a range of
highly energy efficient products with applications for the production,
distribution and consumption of electrical energy.
In particular, the proceeds will be used in the groundbreaking work that the
Group is conducting with Converteam SAS to bring to market a range of highly
efficient, light-weight and compact wind generators for the offshore wind
market.
The Placing is conditional on the Placing Shares being admitted to trading on
AIM. The Placing Shares will rank on their issue pari passu in all respects with
the existing ordinary shares in the Group. Application will be made for the
Placing Shares to be admitted to trading on AIM, which is expected to be on or
around 1 May 2007. -
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.
About superconductivity
Superconductive materials are capable of conducting electricity without any
resistance and were first discovered in 1911 in what was to prove to be one of
the most significant scientific breakthroughs of the 20th century.
The global HTS market is substantial and growing, with a number of market
studies projecting multi-billion dollar markets for the application of HTS
materials and products. The proliferation of the use of superconductor materials
is largely being driven by the following key factors:
(a) HTS materials are highly complementary to energy efficient technologies as a
substitute for copper
(b) HTS wires have power densities of over 100x that of copper
(c) Current developments are leading to substantially reduced costs in the
production of HTS wires and are targeting to be cheaper than copper over the
next few years.
(d) HTS applications deliver exceptional energy efficiencies and thus reduced
power consumption and running costs
(e) HTS technology is set to play a significant role in reducing CO2 emissions
in line with international targets
(f) HTS applications are capable of delivering vastly increased levels of power
with increased reliability and reduced material usage.
Return
to industry news releases |
