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Date/Time	Headline	Source
1
Wed 15:28	Zenergy Power PLC - Significant Shareholder(s)	RNS
RNS Number : 7193C Zenergy Power PLC 18 November 2009 Zenergy Power plc ('Zenergy Power' or the 'Company') Significant Shareholder(s) Zenergy Power plc (AIM:ZEN.L), the superconductor energy technology company, is pleased to announce that following recent management presentations, AEGON Asset Management UK plc ('AEGON') has acquired 4,000,000 ordinary shares in the Company. At the request of the Company's brokers, Panmure Gordon & Co, the liquidity required to facilitate AEGON's share acquisition was provided by the Company's largest shareholder, Cloverleaf Holdings Limited ('Cloverleaf'). Cloverleaf remains a long-term supporter of Zenergy Power and details of its and AEGON's holdings are below: `Shareholder Number of ordinary Number of ordinary % Voting` `shares held prior to shares held rights` `transaction following` `transaction` `AEGON Asset Management UK plc 0 4,000,000 7.66%` `Cloverleaf Holdings Limited 12,579,790 8,579,790 16.42%` Ends- Further information `Andrew Tan Zenergy Power + 44 207 602 7420` `Andrew Godber Panmure Gordon & Co + 44 207 459 5742` `Mark Longson Square1 Consulting Limited + 44 207 929 5599` About Zenergy Power Zenergy Power is a superconductor energy technology company, quoted on the AIM market of the London Stock Exchange and comprising three operating subsidiaries located in Germany, USA and Australia. The Group's commercial focus is the innovation and manufacture of clean energy superconductor solutions that are capable of delivering huge efficiency and cost improvements to the generation, distribution and consumption of electrical energy. Today, the Group's groundbreaking superconductive solutions are already delivering energy savings to industrial users of electrical energy and providing cutting-edge protection from electrical power surges to the United States electricity grid. Looking to the near future, the Group is currently developing a range of highly energy efficient superconductor components for a new class of electricity generator capable of delivering significant cost savings to the renewable energy industry. These cost savings will enable renewable energy to more effectively compete with traditional thermal power generation; leading to a greater reduction in carbon emissions and a more sustainable economic future. In 2007, Zenergy Power became the first company in the world to complete a commercial sale of an industrial scale superconductor application and has subsequently developed products capable of addressing several multi-billion dollar global markets. Following this in the first quarter of 2009, the Group proudly became the first company to install and operate a superconductor smart grid device, capable of significantly reducing the damaging effects of large-scale power surges, into the United States electricity grid. In line with this leading industry position, Zenergy Power is also manufacturing core components for what is due to be the world's first superconductor electricity generator which is due for installation into E.ON AG's commercial hydro power station in early 2010. 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. Superconductors enable: ENERGY INTENSIVE INDUSTRIAL APPLICATIONS CAPABLE OF REDUCING ENERGY CONSUMPTION BY 50% THE PROTECTION OF NATIONAL POWER GRIDS FROM BLACKOUTS THE PRODUCTION OF REVOLUTIONARY LIGHT-WEIGHT, EFFICIENT 10MW CLASS RENEWABLE WIND GENERATORS CAPABLE OF REDUCING THE COST OF OFFSHORE WIND POWER BY 25% THE PRODUCTION OF A NEW CLASS OF COMPACT AND EFFICIENT HYDRO GENERATORS CAPABLE OF SIGNIFICANTLY INCREASING ELECTRICAL POWER OUTPUT FROM EXISTING AND NEW HYDRO DAM STRUCTURES. This information is provided by RNS The company news service from the London Stock Exchange END HOLFFMFIASUSEEF More
26-10-09	STOCKS NEWS UK-Zenergy Power rises on new order	AFX UK Focus
`STOCKS NEWS Reuters` Results diary `Europe Real-time Equity News` `UK Stocks on the move` `UK smallcaps UK smallcaps news` `09:42GMT 26Oct2009-Zenergy Power rises on new order` --------------------------------------------------- `Shares in Zenergy Power Plc rise 3.8 percent after the semiconductor company gets a new order for an induction heater and says its superconductor is now considered commercially favourable by four industrial metals producers.` `"This is its fourth order to date and will help move full-year revenues closer to our forecasts," says Panmure Gordon, which estimates 3 million euros in revenue for the year and keeps its "buy" rating on the stock.` `"We need to see one further order before year-end to meet our expectations. We understand that this is highly likely, given the advanced level of activity with a number of potential customers," the brokerage adds.` `To see Zenergy's statement please click on` Reuters messaging rm://aditi.samajpati.reuters.com@reuters.net `09:39GMT 26Oct2009-Handmade restarts higher after fundraising` ------------------------------------------------------------- `Handmade Plc restarts trading with shares rising as much as 39 percent after the film entertainment company on Friday raises 17 million pounds by placing shares and loan stock and signs several deals.` `Handmade suspended trading on AIM on June 30 saying it was in deal talks regarding multiple corporate transactions and associated funding.` `It on Friday also published outstanding full-year and interim results, announced a JV with National Geographic, along with the acquisitions of U.S. animation firm Animation Collective and the rights to books written by Sarah Ferguson, the Duchess of York.` `For more please click on` Reuters messaging rm://shivani.singh.thomsonreuters.com@reuters.net `09:21GMT 26Oct2009-UK small caps slip 0.1 pct early` --------------------------------------------------- `The FTSE Small Cap index falls 0.1 percent in early deals, underperforming a modestly firmer blue chip index, up 0.1 percent, but outperforming the mid caps, down 0.3 percent.` `Avanti Communications Group is a strong small cap riser, up 7 percent after the firm wins a 7.5 million pounds contract and strategic partnership deal with Hughes Network Systems. For more, double click on` `UK Coal is a faller, losing 3.4 percent after Britain's biggest coal producer reports a 20 percent drop in its third-quarter revenues and says it expects its deep mine output for the full-year to be at the lower end of its previously estimated range. For more, double click on` Reuters Messaging rm://jon.hopkins.reuters.com@reuters.net `09:20 GMT 26Oct2009-McBride up, trading ahead of hopes` ------------------------------------------------------ `McBride shares jump 9.9 percent to 220.8 pence after Europe's biggest maker of retailer own-brand household products says it traded ahead of internal expectations in the four months to Oct. 25.` `"We now feel comfortable that the group should at least match the 5.5 percent (operating) margin achieved in H209," say analysts at Investec Securities in a note.` `They expect to increase their year to end-June 2010 pretax profit forecast by about 6 million pounds to about 42 million pounds.` `To see more please click on` Reuters messaging rm://james.davey.reuters.com@reuters.net `09:02GMT 26Oct2009-Pawnbroker H&T shares hit high on gold-rush` -------------------------------------------------------------- `Shares in UK pawnbroker H&T climb nearly 7 percent to a record high, after it reports current trading to be 'well ahead' of market expectations, lifted by the rapid roll-out of its gold-buying stands to profit from soaring gold prices.` `"While the longevity of gold buying is unknown, the cash benefits may accelerate core growth," says John Stevenson, analyst at KBC Peel Hunt, which is planning to raise 2009 forecasts by at least 10 percent, he adds.` `Analysts at Daniel Stewart say they are likely to increase 2009 forecasts by around 17 percent and 5 percent for 2010.` `"In the interests of making hay while the sun shines, H&T should be praised for their opportunistic reaction to the high gold price," say analysts at Daniel Stewart.` `For more double click on` Reuters Messaging: lorraine.turner.thomsonreuters.com@reuters.net)) `08:50GMT 26Oct2009-BA falls on antitrust threat, downgrade` ---------------------------------------------------------- `Shares in British Airways fall 3.2 percent, the heaviest FTSE 100 faller after a report says the airline, along with Iberia and American Airlines , may have to give up take-off and landing slots to satisfy EU conditions for a proposed tie-up.` `A broker downgrade also weighs on the stock.` `The Financial Times says the EU believes that the proposed alliance was likely to result in "appreciable competitive harm" on seven European-U.S. routes. Remedies may include the transfer of airport slots to other carriers, the newspaper says.` `Meanwhile Deutsche Bank downgrades its stance on the stock to "sell" from "hold". The broker says BA's proposed merger with Iberia and anti-trust immunity with American Airlines, described as the main positive catalysts for the stock, are at risk.` `"We see too much risk and too little reward to be invested in British Airways over the next 12 months... investors who want to be in the sector should buy either Lufthansa or easyJet, both of which have strong balance sheets and a clear strategic direction," Deutsche Bank analysts write in a note.` `Shares in Iberia falls 3 percent while American Airlines closed 7.3 percent lower on Wall Street on Friday.` `For more double click on` Reuters Messaging rm://harpreet.bhal.reuters.com@reuters.net Keywords: MARKETS UK STOCKSNEWS/ COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More
26-10-09	BRIEF-Zenergy gets order for superconductor induction heater	AFX UK Focus
LONDON, Oct 26 (Reuters) - Zenergy Power Plc: HAS RECEIVED A FURTHER ORDER FOR A LOW-ENERGY/HIGH-PRODUCTIVITY SUPERCONDUCTOR INDUCTION HEATER ITS SUPERCONDUCTOR HAS NOW BEEN CONSIDERED COMMERCIALLY FAVOURABLE BY FOUR INDUSTRIAL METALS PRODUCERS ((London Equities Newsroom; +44 20 7542 7717)) (For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More
26-10-09	Zenergy Power PLC - Induction Heater Order	RNS
RNS Number : 3183B Zenergy Power PLC 26 October 2009 Zenergy Power plc ('Zenergy' or the 'Group') Induction Heater Order Zenergy Power plc (AIM:ZEN.L), the superconductor energy technology company, is pleased to announce that it has, in conjunction with its industrial manufacturing and sales partner B?n GmbH, received a further order for a low-energy/high-productivity superconductor induction heater. Known as the Magnetic Billet Heater ('MBH'), the high performance machine has been purchased by a major industrial producer of metal goods for the volume intensive heating of copper alloy billets. Accordingly, the Group is pleased to note that its superconductor MBH has now been considered commercially favourable by four separate industrial metals producers over both conventional induction heater technology and gas powered heater technology. Equally satisfying is that following the completion of this latest sale, two of the Group's units will have been purchased for heating copper billets and two will have been purchased for heating aluminium billets. The MBH achieves its superior heating standards by employing Zenergy Power's proprietary superconductor technology which delivers considerable improvements in heating quality and consistency, output flexibility, just-in-time production capability and overall commercial competitiveness. Further to these improvements in heating performance, the superconductor components also result in very low energy requirements and greatly increased productivity levels - yielding significant cost savings and margin improvements. Operating data received from Zenergy Power's first customer, Weseralu GmbH, has already proven that using high-efficiency superconductor components reduces by half the amount of electricity typically consumed during the heating of metal billets, whilst at the same time increasing productivity levels by 25%. Jens Mueller, CEO, commented: 'To secure this further order during these uncertain economic times is a fantastic endorsement of the economic benefits that our superconductor technology delivers to industry. We offer industrial customers a radical improvement to how they carry out their heating processes which consequently creates significant operational cost savings and the purchase of a fourth machine by another leading metals producer is evidence that the industry itself is acknowledging this.' As with all of Zenergy Power's commercial applications, the Group is focussed on the development of the patented superconductor components that lie at the heart of the MBH which govern its overall heating performance and greatly reduced energy requirements. Ends- Further information `Andrew Tan Zenergy Power Plc + 49 2226 9060 668` `David Bick Square1 Consulting Ltd + 44 207 929 5599` `Andrew Godber/Adam Pollock Panmure Gordon & Co + 44 207 459 3600` `Kam Bansil/Rory Scott Mirabaud Securities Limited + 44 207 866 0244` About Zenergy Power plc Zenergy Power plc is a superconductor energy technology company, listed on the AIM market of the London Stock Exchange and comprising three operating subsidiaries located in Germany, USA and Australia. By innovating superconductor based technology solutions, the Group provides patented clean energy devices that greatly improve the efficiency with which customers generate, distribute and use electrical energy. To date, the incredibly energy efficient superconductive components at the heart of Zenergy's products have successfully delivered industrial customers significant reductions in energy consumption and provided utility companies with cutting-edge smart gird solutions. Looking to the near future, the Group is also developing a range of highly-energy efficient superconductor components for electricity generators capable of greatly reducing the cost of producing offshore wind power. All of which leads to the production of fewer carbon emissions in the world and a more sustainable economic growth path. In 2007 Zenergy achieved the world's first sale of an industrial scale commercial application incorporating superconductor technology and has subsequently developed products capable of addressing multi-billion dollar global markets. About Magnetic Heating Conventional induction heaters are used globally and ubiquitously by producers and manufacturers of metal goods for heating and softening large quantities of metal bulk prior to carrying out processes of manipulation and shaping. Currently, these processes require the consumption of vast amounts of electrical energy and studies have shown that between 1% and 5% of an industrialised country's annual electricity consumption can be directly attributed to this. It is in consideration of the associated costs and environmental impact of this excessive energy consumption that the Group's superconductor machine has been designed to operate with energy efficiency levels of over 85% as compared to conventional machines that operate with efficiency levels of between 35% and 45%. This effective halving of electricity requirement is of particular interest to customers, regulators and governments alike when considering the significant role that the Group's machine can play in reducing CO2 emissions in line with international targets. 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. Superconductors enable: `(a) Induction Heaters to be twice as efficient for the metals industry` `(b) Fault Current Limiters to protect power grids from blackouts` `(c) Direct-drive wind generators to be significantly reduced in size and weight allowing the operation of wind generators in` `excess of 8 MW` (d) Existing hydro-power sites to increase energy efficiency and electrical power output. This information is provided by RNS The company news service from the London Stock Exchange END MSCEALEDAAKNFFE More
06-10-09	Zenergy Power PLC - Total Voting Rights	RNS
RNS Number : 2932A Zenergy Power PLC 06 October 2009 Zenergy Power plc ('the Company') Total Voting Rights For the purposes of the Financial Services Authority's Disclosure and Transparency Rules, the Company notifies the market of the following: As at the date of this announcement, the Company's issued share capital consists of 52,241,970 ordinary shares with a nominal value of £0.01 each ("Ordinary Shares"), with voting rights. The Company does not hold any Ordinary Shares in Treasury. The above figure of 52,241,970 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules. Ends - Further information `Andrew Tan Zenergy Power + 44 207 602 7420` `Andrew Godber Panmure Gordon & Co + 44 207 459 5742` `Mark Longson Square1 Consulting Limited + 44 207 929 5599` About Zenergy Power Zenergy Power is a superconductor energy technology company, quoted on the AIM market of the London Stock Exchange and comprising three operating subsidiaries located in Germany, USA and Australia. The Group's commercial focus is the innovation and manufacture of clean energy superconductor solutions that are capable of delivering huge efficiency and cost improvements to the generation, distribution and consumption of electrical energy. Today, the Group's groundbreaking superconductive solutions are already delivering energy savings to industrial users of electrical energy and providing cutting-edge protection from electrical power surges to the United States electricity grid. Looking to the near future, the Group is currently developing a range of highly energy efficient superconductor components for a new class of electricity generator capable of delivering significant cost savings to the renewable energy industry. These cost savings will enable renewable energy to more effectively compete with traditional thermal power generation; leading to a greater reduction in carbon emissions and a more sustainable economic future. In 2007, Zenergy Power became the first company in the world to complete a commercial sale of an industrial scale superconductor application and has subsequently developed products capable of addressing several multi-billion dollar global markets. Following this in the first quarter of 2009, the Group proudly became the first company to install and operate a superconductor smart grid device, capable of significantly reducing the damaging effects of large-scale power surges, into the United States electricity grid. In line with this leading industry position, Zenergy Power is also manufacturing core components for what is due to be the world's first superconductor electricity generator which is due for installation into E.ON AG's commercial hydro power station in early 2010. 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. Superconductors enable: ENERGY INTENSIVE INDUSTRIAL APPLICATIONS CAPABLE OF REDUCING ENERGY CONSUMPTION BY 50% THE PROTECTION OF NATIONAL POWER GRIDS FROM BLACKOUTS THE PRODUCTION OF REVOLUTIONARY LIGHT-WEIGHT, EFFICIENT 10MW CLASS RENEWABLE WIND GENERATORS CAPABLE OF REDUCING THE COST OF OFFSHORE WIND POWER BY 25% THE PRODUCTION OF A NEW CLASS OF COMPACT AND EFFICIENT HYDRO GENERATORS CAPABLE OF SIGNIFICANTLY INCREASING ELECTRICAL POWER OUTPUT FROM EXISTING AND NEW HYDRO DAM STRUCTURES This information is provided by RNS The company news service from the London Stock Exchange END TVRGRBDGCBGGGCL More
23-09-09	Glance-STOCKS NEWS EUROPE-Zenergy up on American Electric deal	AFX UK Focus
Shares in Zenergy Power rise 1.2 percent after American Electric Power Co Inc agrees to install one of the superconductor specialist's Fault Current Limiters (FCL) on the United States electricity grid. Panmure Gordon analyst Mark Davis, who rates Zenergy stock a "buy" with a 220 pence price target, says securing AEP as a customer sends a clear message to the industry. "Although (the FCL) will not be installed until the end of 2011, this is a great endorsement of Zenergy's technology and emphasises its high-voltage and medium-voltage capability," he says. For more click on Reuters messaging rm://ram.kumar.thomsonreuters.com@reuters.net COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More
23-09-09	STOCKS NEWS UK-Zenergy up on American Electric Power deal	AFX UK Focus
`STOCKS NEWS Reuters Results diary` `Europe Real-time Equity News` `UK Stocks on the move` `UK smallcaps UK smallcaps news` `0842GMT 23Sep2009-Zenergy up on American Electric Power deal` ------------------------------------------------------------ `Shares in Zenergy Power rise as much as 4.7 percent after American Electric Power Co Inc agrees to install one of the superconductor specialist's Fault Current Limiters (FCL) on the United States electricity grid.` `Panmure Gordon analyst Mark Davis, who rates Zenergy stock at "buy" with a 220 pence price target, says securing AEP as a customer sends a clear message to the industry.` `"Although (the FCL) will not be installed until the end of 2011, this is a great endorsement of Zenergy's technology and emphasises its high-voltage and medium-voltage capability," he says.` `For more click on` Reuters messaging rm://ram.kumar.thomsonreuters.com@reuters.net `0724GMT 23Sep2009-Pru higher; Caz upgrades life insurers` -------------------------------------------------------- `Shares in Prudential gain 2.0 percent, the best performer in a strong life insurance sector after Cazenove upgrades its rating for the firm and three other sector components.` Cazenove raises its stance on Prudential, blue chip peer Aviva, and mid cap St James's Place to "outperform" from "in-line", and ups its rating for Old Mutual to "in-line" from "underperform". `Old Mutual shares gain 1.3 percent, St James's Place adds 3.3 percent but Aviva falls 0.7 percent.` The broker says "the UK life sector has rallied strongly from its lows, but we believe there is potential for significant further upside, driven by improving fundamentals, a more benign investment background, a recovery in earnings, re-rating potential, and probably consolidation as well." `Cazenove raises its EPS estimates by 15 percent on average for 2009 and by 16 percent for 2010 following recent first-half results in the sector.` `The broker says despite this improving earnings momentum, the UK life insurers are still trading at earnings multiples generally less than half the peak levels established in 2006-7, and in addition to the valuation case, sector consolidation looks increasingly likely.` Reuters Messaging rm://jon.hopkins.reuters.com@reuters.net `0757GMT 23Sep2009-FTSE small caps flat early` -------------------------------------------- `The FTSE Small Cap index is flat in opening trade as the wider UK market extends its gains into a second consecutive session, with the FTSE 100 up 0.5 percent and the FTSE 250 up 0.3 percent.` `RPC Group, a supplier of plastic packaging, adds 2.5 percent after the firm issues a trading update, which prompts Altium Securities to upgrade its recommendation on the stock to "buy" from "hold".` `Ceres Power falls 1.6 percent after the alternative-energy company says its full-year loss rose by 60 percent to 8.0 million pounds.` Reuters Messaging rm://david.brett.reuters.com@reuters.net `0748GMT 23Sep2009-Liberty Int weak after placing` ------------------------------------------------ `Shares in Liberty International fall 5.5 percent, topping the FTSE 100 fallers list, after the real estate investment trust launches a placing of 56.1 million new shares, or up to 9.9 percent of its issued share capital.` `The move is designed to raise new funds to kickstart investment plans the firm mothballed at the height of the financial crisis a year ago.` `In reaction, KBC Peel Hunt raises its rating for Liberty to "hold" from "sell" saying its sees the placing "as a proactive and positive move".` `"This is not a large issue and as such does not change the company significantly. However it does provide additional firepower, which we see as a positive," KBC Peel Hunt says.` `The broker says it does not anticipate the offering being done at any significant discount and maintains that it is not likely to be dilutive.` `KBC Peel Hunt anticipates that other UK real estate leaders such as British Land, Hammerson, and Land Securities may follow suit and complete similar issues in the coming weeks.` `British Land shares shed 1.5 percent, Hammerson falls 1.9 percent, and Land Securities loses 1.0 percent.` `For more double click on` Reuters Messaging rm://jon.hopkins.reuters.com@reuters.net `0735GMT 23Sep2009-Game Group down on first-half results` ------------------------------------------------------- `Shares in Game Group fall as much as 5 percent in opening trade as the British computer and video games retailer posts a fall in first-half profit and says sales are continuing to decline in the second half.` `Altium Securities says: "It has been clear throughout (the) first half that a weak release schedule would result in disappointing interim profits."` `"There seems every chance at this stage that the better gross margin guidance will be at least offset by the weaker sales picture," it adds.` `However, Altium says: "We have yet to reach the point in the second half when the release schedule improves materially", and retains its "buy" recommedation citing Game's low valuation compared to the sector and its nearest competitor HMV.` `For more double click on` Reuters Messaging rm://david.brett.reuters.com@reuters.net `0730GMT 23Sep2009-RPC rises after calling turn on de-stocking` ------------------------------------------------------------- `Shares in RPC Group, a supplier of plastic packaging, gain 4.9 percent to top the FTSE small-cap gainers after the firm issues a trading update, which prompts Altium Securities to upgrade its recommendation on the stock to "buy" from "hold".` `Altium says in a note that the key take-away for it is that effectively the company is calling the turn on de-stocking, with RPC saying "it does appear that the customer de-stocking effects have come to an end in the majority of the sectors that RPC supplies."` `The broker says the key sector to have "crossed the line" is cosmetics and personal care, which it says is a significant contributor for the group.` `"There is further upside for RPC on the back of European earnings, and note that the company is confident about the cost-cutting programme," the broker says.` `Altium hikes its target price for RPC to 300 pence from 250.` `For more double click on` Reuters Messaging rm://tricia.wright1.reuters.com@reuters.net COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More
23-09-09	Zenergy Power PLC - American Electric Power FCL Agreement	RNS
RNS Number : 4991Z Zenergy Power PLC 23 September 2009 Zenergy Power plc ('Zenergy Power' or the 'Group') American Electric Power FCL Agreement Zenergy Power (AIM:ZEN.L), the superconductor energy technology company, is pleased to announce that American Electric Power ('AEP') has entered into a collaborative agreement with the Group to become the first utility company to install and operate a transmission-voltage Fault Current Limiter ('FCL') on the United States Electricity Grid. AEP owns the United States' largest electricity transmission system, comprising of nearly 39,000 miles of transmission lines, and is one of the country's largest generators of electricity, owning nearly 38,000 megawatts of generating capacity. The FCL is expected to be installed at the 138-kilovolt Tidd substation near Steubenville, Ohio, in late 2011. Zenergy Power's FCL is a newly developed and proprietary 'smart grid' device that helps to suppress the excess energy associated with 'fault currents' and, in doing so, protects essential large-scale grid equipment, including cables, transformers, capacitor banks and switchgear. Accordingly, Zenergy Power's FCL not only increases the reliability of the electricity supply but also mitigates significant capital expenditure by minimizing the incidence of electrical damage to grid equipment. In addition, it is anticipated that the use of FCLs in certain grid locations could defer the need to upgrade substation infrastructure which, depending on individual circumstances, can cost up to tens or hundreds of millions of dollars. Prior to entering into this agreement, AEP conducted a thorough evaluation of the FCL business case with respect to its own grid requirements. The construction and installation of the high-voltage device will be partially funded by the U.S. Department of Energy ('DOE') as part of Zenergy Power's ongoing US$11 million project initially announced on June 29, 2007. As recently announced by the DOE, the availability of funding through this project has been accelerated as a result of the American Recovery and Reinvestment Act of 2009. Accordingly, Zenergy Power is particularly pleased to secure this agreement with AEP as it allows it to progress towards the completion of its DOE programme for the development of a high-voltage FCL product based upon the newly developed and tested compact design. Michael Heyeck, Senior Vice President of Transmission, AEP, commented: "As we expand and rebuild the transmission grid of the future to enable renewables and other forms of new generation, superconducting FCLs can provide a smart means to avoid capital investment as we integrate newer grid elements into the existing grid. An economical and reliable application of FCL would be useful in addressing these challenges." A distribution-voltage FCL from Zenergy Power was installed and commissioned earlier this year by Southern California Edison in its Avanti 'Circuit of the Future' near Los Angeles. This latest agreement with AEP means that Zenergy Power is now positioned to become the first company to install and operate superconductor FCLs on the United States Electricity Grid in both the medium-voltage range (used for urban distribution of power) as well as the high-voltage range (used for longer distance transmission of power). Ends- Further information `Andrew Tan Zenergy Power + 44 207 602 7420` `David Bick Square1 Consulting Ltd + 44 207 929 5599` `Andrew Godber/Katherine Roe Panmure Gordon & Co + 44 207 459 5742` `Kam Bansil/Rory Scott Mirabaud Securities Limited + 44 207 866 0244` About Zenergy Power Zenergy Power is a superconductor energy technology company, quoted on the AIM market of the London Stock Exchange and comprising three operating subsidiaries located in Germany, USA and Australia. The Group's commercial focus is the innovation and manufacture of clean energy superconductor solutions that are capable of delivering huge efficiency and cost improvements to the generation, distribution and consumption of electrical energy. Today, the Group's groundbreaking superconductive solutions are already delivering energy savings to industrial users of electrical energy and providing cutting-edge protection from electrical power surges to the United States electricity grid. Looking to the near future, the Group is currently developing a range of highly energy efficient superconductor components for a new class of electricity generator capable of delivering significant cost savings to the renewable energy industry. These cost savings will enable renewable energy to more effectively compete with traditional thermal power generation; leading to a greater reduction in carbon emissions and a more sustainable economic future. In 2007, Zenergy Power became the first company in the world to complete a commercial sale of an industrial scale superconductor application and has subsequently developed products capable of addressing several multi-billion dollar global markets. Following this in the first quarter of 2009, the Group proudly became the first company to install and operate a superconductor smart grid device, capable of significantly reducing the damaging effects of large-scale power surges, into the United States electricity grid. In line with this leading industry position, Zenergy Power is also manufacturing core components for what is due to be the world's first superconductor electricity generator which is due for installation into E.ON AG's commercial hydro power station in early 2010. 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. Superconductors enable: ENERGY INTENSIVE INDUSTRIAL APPLICATIONS CAPABLE OF REDUCING ENERGY CONSUMPTION BY 50% THE PROTECTION OF NATIONAL POWER GRIDS FROM BLACKOUTS THE PRODUCTION OF REVOLUTIONARY LIGHT-WEIGHT, EFFICIENT 10MW CLASS RENEWABLE WIND GENERATORS CAPABLE OF REDUCING THE COST OF OFFSHORE WIND POWER BY 25% THE PRODUCTION OF A NEW CLASS OF COMPACT AND EFFICIENT HYDRO GENERATORS CAPABLE OF SIGNIFICANTLY INCREASING ELECTRICAL POWER OUTPUT FROM EXISTING AND NEW HYDRO DAM STRUCTURES About American Electric Power American Electric Power is one of the largest electric utilities in the United States, delivering electricity to more than 5 million customers in 11 states. AEP ranks among the nation's largest generators of electricity, owning nearly 38,000 megawatts of generating capacity in the U.S. AEP also owns the nation's largest electricity transmission system, a nearly 39,000-mile network that includes more 765-kilovolt extra-high voltage transmission lines than all other U.S. transmission systems combined. AEP's transmission system directly or indirectly serves about 10 percent of the electricity demand in the Eastern Interconnection, the interconnected transmission system that covers 38 eastern and central U.S. states and eastern Canada, and approximately 11 percent of the electricity demand in ERCOT, the transmission system that covers much of Texas. AEP's utility units operate as AEP Ohio, AEP Texas, Appalachian Power (in Virginia, West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana and east Texas). AEP's headquarters are in Columbus, Ohio. This information is provided by RNS The company news service from the London Stock Exchange END MSCILFSTATIFFIA More
16-09-09	Zenergy Power PLC - European Environmental Prize	RNS
RNS Number : 1246Z Zenergy Power PLC 16 September 2009 Zenergy Power plc ('Zenergy Power' or the 'Group') European Environmental Prize Zenergy Power (AIM:ZEN.L), the superconductor energy technology company, is proud to announce that it has, together with its manufacturing partner B?n GmbH ('B?n') been awarded Europe's largest environmental prize in recognition of the role of superconductors as a 'Key Technology for Industry and Climate Protection'. The annual EUR500,000 prize is awarded by the German Federal Foundation for the Environment and will be shared by Zenergy Power and B?n with two other leading protagonists of sustainability and environmental protection. The selection of Zenergy Power and B?n relates to the pioneering work carried out on bringing to industry energy efficient processes powered by superconductor technology, and specifically the Group's groundbreaking superconductor induction heater product. As confirmed by the Group's first industrial customer Weseralu GmbH ('Weseralu'), the use of a superconductor induction heater (also known as a Magnetic Billet Heater) in industrial operations leads to a 50% reduction in the amount of energy consumed during heating processes carried out on metal billets prior to their manipulation into products and profiles. This is of particular environmental significance when it is considered that in any industrialised country between 1% and 5% of the electricity supply is consumed in the operation of heating equipment by the metals industry. Further to these substantial energy savings, Weseralu has also reported that the use of the superconductor machine has led to an increase in production output of 25%. The prize will be awarded to Zenergy Power by the German Federal President, Horst K?r, in a ceremony to be held on the 25th of October. Dr. Fritz Brickwedde, Secretary General to the German Federal Foundation for the Environment, commented: "Zenergy Power and B?n accomplished a breakthrough on the way towards establishing superconductors as a key technology of sustainable power engineering", Ends- Further information `Andrew Tan Zenergy Power Plc + 44 207 602 7420` `David Bick Square 1 Consulting Ltd + 44 207 929 5599` `Andrew Godber/Katherine Roe Panmure Gordon & Co + 44 207 459 5742` `Kam Bansil/Rory Scott Mirabaud Securities Limited + 44 207 866 0244` About Zenergy Power plc Zenergy Power is a superconductor energy technology company, quoted on the AIM market of the London Stock Exchange and comprising three operating subsidiaries located in Germany, USA and Australia. The Group's commercial focus is the innovation and manufacture of clean energy solutions that are built around a range of patented superconductor technologies and capable of delivering huge efficiency and cost improvements to the generation, distribution and consumption of electrical energy. Today, the Group's groundbreaking superconductive solutions are already delivering energy savings to industrial users of electrical energy and providing cutting-edge protection from electrical power surges to the United State's electricity grid. Looking to the near future, the Group is currently developing a range of highly energy efficient superconductor components for a new class of electricity generators capable of delivering significant cost savings to the production of renewable energy. These cost savings will enable renewable energy to more effectively compete with traditional thermal power generation and lead to a greater reduction in carbon emission levels and a more sustainable economic future. In 2007, Zenergy Power became the first company in the world to complete a commercial sale of an industrial scale superconductor application and has subsequently developed products capable of addressing several multi-billion dollar global markets. Following this in the first quarter of 2009, the Group proudly became the first company to install and operate a superconductor smart grid device, capable of significantly reducing the damaging effects of large-scale power surges, into the United State's electricity grid. In line with this leading industry position, Zenergy Power is also manufacturing core components for what is due to be the world's first superconductor electricity generator which is due for installation into E.ON AG's commercial hydro dam in January 2010. It is anticipated that the installation of the superconductor generator will increase the electricity output of this generator by 36%. 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. Superconductors enable: ENERGY INTENSIVE INDUSTRIAL APPLICATIONS CAPABLE OF REDUCING ENERGY CONSUMPTION BY 50% THE PROTECTION OF NATIONAL POWER GRIDS FROM BLACKOUTS THE PRODUCTION OF REVOLUTIONARY LIGHT-WEIGHT, EFFICIENT 10MW CLASS RENEWABLE WIND GENERATORS CAPABLE OF REDUCING THE COST OF OFFSHORE WIND POWER BY 25% THE PRODUCTION OF A NEW CLASS OF COMPACT AND EFFICIENT HYDRO GENERATORS CAPABLE OF SIGNIFICANTLY INCREASING ELECTRICAL POWER OUTPUT FROM EXISTING AND NEW HYDRO DAM STRUCTURES This information is provided by RNS The company news service from the London Stock Exchange END MSCBELLFKKBXBBV More
14-09-09	Zenergy Power PLC - Interim Results	RNS
This news article is displayed preformatted as it may contain results tables RNS Number : 9699Y Zenergy Power PLC 14 September 2009 Zenergy Power plc ('Zenergy Power' or the 'Group') Interim Results for the Six Month Period ended 30 June 2009 Zenergy Power (AIM:ZEN.L), the superconductor energy technology company, is pleased to announce its interim results for the six month period ended 30 June 2009 ('the Period'). Highlights * Installation of first superconductor Fault Current Limiter ('FCL') into United States electricity grid in Southern California; * Receipt of commercial FCL contract from The Consolidated Edison Company of New York; * Receipt of additional funding from the U.S. Department of Energy for development of low-cost '2G' superconductor wire; * Receipt of commercial contract from RWE Power AG for superconductor hydropower evaluation; * Order backlog of EUR2.3m; * Institutional placing to raise EUR10.3m (net); and * Exceptional cash expenditure in the Period of EUR1.3m in respect of strategic marketing study and leasehold improvements. Since Period End * Further commercial order for Induction Heater received from the world's largest aluminium profiles producer, the Sapa Group; * Successful development and testing of new high-voltage FCL design; and * Manufacture and delivery of coil set for the production of superconductor renewable energy generator for E.ON AG ('E.ON'). Open Day and Company Presentation As part of our continuing efforts to assist shareholders in deepening their knowledge of Zenergy Power and to further the transparency of our superconductor technology development, we will be holding an Open Day at our main production facility in Rheinbach, Germany on Thursday the 1st of October 2009. The purpose of the Open Day is to provide the opportunity to shareholders, analysts, journalists and other interested parties to visit our European production facilities, tour our research and development operations, meet with a number of our technical personnel and witness firsthand the operation of a Superconductor Induction Heater. As well as the tours of our facility and technology demonstrations, there will be a series of management presentations throughout the day providing an updated overview on Zenergy Power, our technology development progress, our biggest challenges and main market opportunities. During these presentations there will be the opportunity to field questions to both management and technical personnel. If you would like to attend this Open Day and require further information then please contact Andrew Tan via email andrew.tan@zenergypower.com Matrix New Energy Conference Further to this, Zenergy Power will also be presenting at the upcoming Matrix New Energy Conference being held on Thursday the 8th of October 2009. If you are interested in attending this event please contact john.howes@matrixgroup.co.uk. Further information Andrew Tan Zenergy Power Plc + 44 207 602 7420 David Bick Square1 Consulting Ltd + 44 207 929 5599 Andrew Godber/Katherine Roe Panmure Gordon & Co + 44 207 459 5742 Kam Bansil/Rory Scott Mirabaud Securities Limited + 44 207 866 0244 Chairman's Statement It is with great pleasure that I present our report on what has been another successful period for the Group during which we achieved substantial progress with each of our commercial, research and development objectives. In this respect it is testament to all our teams that, whilst our primary commercial focus remained on the first of our superconductor products the Induction Heater, we were still able to simultaneously and with great vigour bring about great advancements in the development of our smart grid and renewable energy products. Perhaps of greatest significance during the Period, we became the first company to ever install and operate a superconductor Fault Current Limiter in the United States electricity grid. An event we view as the most significant harbinger for our next commercial application. This landmark installation, occurring as it did after a long and gruelling period of testing and qualification, not only marks our entry into the rapidly growing multi-billion dollar smart grid market, but also represents the second successful deployment of a new and demonstrably proven superconductor product into real-world operating conditions within the space of a year. No other group can boast such an achievement, which evidences the beginning of an exciting transitional growth phase for the Group. Characterised by the progression from product development to commercial sales, this transition phase represents a key value converter for the Group during which our commercial prospects become ever more visible, proven and de-risked. In the case of Zenergy Power, this phase of value creation is particularly pronounced when it is considered that our groundbreaking superconductor technology has been under development for more than 20 years. Testament to this, it is satisfying to note that during the Period we also passed the first year anniversary of the inaugural delivery of our Induction Heater product for installation into real-world industrial operations. I am pleased to report that the machine has performed consistently since its landmark installation and has to date processed in excess of 200,000 billets whilst exceeding all performance expectations of our customer and ourselves. To complete the first installation of one new product and celebrate the first anniversary of another in the same six month period is particularly satisfying for everyone involved with Zenergy Power and highlights the exciting phase of product development and deployment that we have entered. Having advanced this remarkable technology for over two decades it is particularly satisfying to note its emergence at a time when global trends in electricity generation, distribution and usage are so obviously conducive to its commercial success. These energy trends are ubiquitous, irreversible and increasingly underpinned by local, national and international legislation. Resultantly, the way in which society generates, distributes and uses electrical energy is changing on an unprecedented scale. For this reason, it is crucial that the Group continues its success in deploying superconductor energy technology at a time when the huge emerging commercial opportunities being created by these dramatic changes can be captured. Accordingly, in support of these efforts during the Period, we continued to invest in the resources and capacity necessary to endow the Group with the means with which to drive its future commercial expansion. The first half of 2009 has been a great success in this respect and substantial progress was made in the development of the superconductor components required for the production of a revolutionary new class of electricity generator designed specifically to reduce the cost of producing electricity from offshore wind farms and run-of-river hydropower stations. Renewable energy generators based on superconductor components promise to be significantly more efficient, compact and lightweight than conventional generators. These features have considerable economic implications and already our technology is receiving sustained interest from a number of parties including utility companies, power generation companies, project developers, equipment manufacturers and government organisations. For this reason, the groundbreaking work that we are carrying out in conjunction with our collaborative development partner, Converteam SAS ('Converteam'), is of particular commercial importance to the Group at this time. Looking to the second half of 2009, we will see the completion of some of the most significant stages of this development work and expect to progress towards what will be the world's first grid installation of a superconductor generator in the early part of 2010. The landmark installation will take place in the hydropower station of E.ON and will mark one of the Group's most significant achievements to date. Shareholders will recall that E.ON have elected to use the generator as the station's pole generator meaning that it will be responsible for the base-load supply of electricity to over 3,000 homes in the local area. The willingness of E.ON to use the first ever superconductor hydropower generator in this way is a huge endorsement not only of the incredible potential of superconductor generators, but also of the engineering capabilities of our in-house technical teams (that were evaluated by E.ON prior to the decision to entrust the generator with the responsibility of supplying power to so many end customers). A further important factor influencing E.ON's decision will have been the significant economic gains afforded to them as a result of the increased electrical output of the hydropower station driven by the 36% increased capacity of the high-efficiency superconductor machine. The installation of the generator will also mark the deployment into real-world operating conditions of the third and most technically challenging of our superconductor-based industrial scale products. The achievement of a third successive new product installation in less than 2 years will be a significant one and looking to the successes enjoyed with the deployment of our first two products I have little doubt that the generator will live up to all of our performance expectations. Outlook As we progress into the second half of 2009 and towards the eventual deployment of the third of our superconductor products, it is important to note the growing importance of the development work that we are carrying out to enable us to produce and supply industrial scales of low-cost superconductor wire. Known as '2G' this low-cost wire will eventually be used in the construction of all of our superconductor products and forms the basis of one of our strongest barriers to entry to competitors. Unlike other industry participants, we are developing a revolutionary continuous production technique that involves coating textured nickel tape with selected chemical solutions that deposit layers of material on the tape to produce superconductor wire. As with our other development activities, the work on our 'all-chemical' 2G production techniques goes back many years. It is however vitally important that our 2G development and production scaling converge with our emerging commercial activities - and the next 12 months will play an important role in this. To this end, the second half of 2009 will see a growing focus and resource commitment from the Group towards its 2G activities as we begin to refine our processes and deepen our working relationships with both ThyssenKrupp and Honeywell. Shareholders will recall that both ThyssenKrupp and Honeywell are working to become qualified by us as industrial suppliers of base materials for the mass production of 2G wire. Once qualified, both ThyssenKrupp and Honeywell will make considerable contributions to our ability to mass produce economic superconductor products designed to improve the way in which society generates, distributes and uses electrical energy. Michael Fitzgerald Chairman 11 September 2009 Chief Executive's Operational Report The first half of 2009 saw the Group make strong progress across of all its product areas both in terms of its development activities and also its commercial sales and marketing activities. As reflected in our financial results we began to allocate dedicated resources to sales and marketing activities in the Period and made significant internal investments in bolstering production capacity and organisational infrastructure. These activities have greatly increased our commercial presence in both the metals industry and utilities market in which we now operate and I expect our efforts to bear significant fruit over the next 12 months and beyond. Revenues When reviewing our periodical revenue generation the comparison between the revenues for the second half of 2008 (EUR985,000) and of the first half of 2009 (EUR214,000) is notable and starkly evidences the inherently lumpy nature of our revenues at this early stage of our commercial expansion. It is important to both stress and explain these symptomatic attributes to avoid any confusion. Unsurprisingly, it will be appreciated that the unit cost of our products represents not merely a major capital investment for any purchaser, but a major revenue stream for the Group. Thus, one induction heater sale roughly equates to half of our 2009 consensus revenue forecasts. The combined effect of equipment manufacturing and delivery lead times, coupled with the way in which the accounting rules require that revenue be recognised by the Group explains not merely our first half revenues but also our yet to be recognised revenues from sales and our order backlog which currently stands at over EUR2.3m. Another relevant cash and income feature that is particular to the Group and requires an explanation concerns the use and treatment of grants. During the Period we committed significant resources and capital expenditure to progressing a number of our government supported development programs. As a result we made substantial progress in our development activities especially in relation to our FCL product offering and earned EUR1.6m from grants. A 52% increase on the annualised amount of EUR2.1m for the full year in 2008. The practical results of these development programmes include the grid installation of a medium-voltage FCL unit and the successful development and testing of a high-voltage FCL design. However, applicable accounting rules mean that roughly 72% of this amount is not reflected in our income statement but is instead capitalised through our balance sheet. As well as explaining the lumpiness of our revenues, these idiosyncrasies afford us good visibility of the significant revenue generation which we expect for the remainder of the current year. Accordingly, we remain confident of meeting our full year consensus revenue forecasts. Despite the success of the Group we recognise that we are still at a relatively early stage of commercialising our products. Thus, looking ahead we can expect this lumpiness to be a feature of our revenue reporting until such a time when both our product mix and forecast unit sales are numerous enough to offset the non-linear completion of sales across any one particular reporting period. A continuing growth in our order backlog will also provide us with the means to 'smooth' our revenue recognition over reporting periods. However, in the short-term we expect lumpiness to be a feature of our revenue generation and this is certainly the case with our 2009 reporting. Renewable Energy Generators In 2007 the Group entered into a 5-year exclusive collaboration agreement with Converteam SAS ('Converteam') to develop a range of groundbreaking superconductor electricity generators for the offshore wind and small hydropower markets. The establishment of this agreement came about after a number of years of collaborative work between ourselves and Converteam and provided the basis through which we could formally combine our expertise for development of a revolutionary generator design based around Zenergy Power superconductor components. The work that we have been doing with Converteam is truly groundbreaking and can be considered as one of only a few true advancements in generator technology to occur over the past 50 years. And whilst other advancements in power electronics have enabled incremental improvements to generator performance, it is anticipated that the use of superconductors will enable the production of a new class of generators that are over 98% efficient, just one sixth of the weight of conventional generators and one third of their size. It is widely recognised that generators offering these improvements in efficiency, size and weight would deliver substantial economic improvements to the generation of renewable energy and play a significant role in the industry's future growth. This is of particular excitement to the Group when it is considered that very nearly all electricity generated on the planet comes from conventional copper generators. Reflecting upon the continuing proliferation of renewable energy generation across the world it is with pleasure that, after many years of design and planning, we and Converteam entered into the final stages of the production E.ON's superconductor generator in the first half of this year. To begin this final phase of our development work is truly exciting and we now expect the first generator to be constructed in the second half of 2009 with its eventual installation into E.ON's hydropower station early next year. The direct installation of the first generator into a commercial dam is of huge significance to the Group and its superconductor technology and its successful completion will mark the beginning of a new era in electricity generation. Accordingly, in the first half of 2009 we commenced the production of the full set of superconductor coils required for the assembly of a full-scale 1.7MW hydropower generator. For Zenergy Power the biggest challenge presented by this phase of machine's development was one of scaling. Unlike the Group's other products (the induction heater and the FCL), a superconductor generator requires the use of a far greater number of superconductor coils which all had to be produced in quick succession and with a high degree of uniformity. It is with great pleasure that I can report that we were successful in scaling up our coil production activities and have now completed the construction of the 28 full-scale coils which have been subsequently delivered to Converteam. During the course of the rest of the year our engineers will continue to work closely with Converteam to bring about the timely construction and installation of the machine into E.ON's hydropower station in the early part of next year. Low cost 2G wire At Zenergy Power we are aware that superior performance alone is not enough for our customers and for the commercial success of our products. In the development of all of our products we are particularly aware of our need to be competitive on an overall cost basis and this ethos has shaped the way in which we have selected the applications for development and the markets in which to commercialise them. With regard to the groundbreaking work that we are carrying out on renewable energy generators we are particularly aware of the need to be cost competitive and to able to deliver economic gains to our customers' operations. In the case of renewable energy production, our superconductor solutions will achieve this by firstly improving efficiency and reliability; and then secondly by being cost competitive with conventional technology. It is for this reason that the development work that we are carrying out on our patented low-cost production techniques for superconductor wire is in many ways our most important. Our approach to superconductor wire manufacture has been to develop our own low-cost production techniques that will ensure that we can achieve a wire quality with the optimal balance between cost and performance that ensures the commercial competitiveness of our products. This low-cost wire, known as 2G, will be used in the mass production of renewable energy generators ensuring not only the cost competitiveness of the machines, but also the long-term competitiveness of Zenergy Power in its market place. Our ability to produce superconductor wire significantly cheaper than anyone else in the industry will not only safeguard the future cost base of our products but also represents a substantial barrier to entry to new industry participants attempting to replicate our work. With this in mind we can see that, in the first half of 2009, the substantial progress made with the development of E.ON's superconductor generator was matched by a growth in activity in the development of our 2G wire. Most importantly, the Period saw us deepen our working relationships with both Honeywell and ThyssenKrupp who we hope to qualify as industrial suppliers to the Group over the course of the next 12 months. Our approach to this is unique and enables us to focus our resources on the development of our patented mass production techniques whilst we secure third party industrial supply of raw materials specifically suited to our processes. This approach ensures that as we begin to scale our production activities we will be able to produce wire on industrial scales with a high degree of consistency. Work on both of these activities progressed well in the first half and I expect this to continue in the second half as we further increase our 2G development activities. Superconductor Induction Heaters Also known as Magnetic Billet Heaters, our low-energy/high-productivity superconductor induction heaters are used by metals producers to heat and soften metal billets before carrying out processes of shaping and drawing to produce goods. Following on from a difficult second half of trading in 2008, conditions in the metals industry in the first half of 2009 continued to be dominated by restricted capital expenditure and lowering output levels. However, as we entered into the second half of the year these conditions showed real signs of improvement and shortly after the close of the Period we successfully secured a further commercial order from the world's largest aluminium profiles producer, The Sapa Group. Despite these difficult trading conditions across the entire industry and a delay in further sales in the first half of this year, I remain confident that we will see further activity in this market and that we will meet our forecast unit sales figures for the full year. Although securing sales has been difficult in the Period, it gives me great pleasure to report that our sales efforts have been very productive and there has been a significant increase in the awareness of our superconductor solution in the market place. This is demonstrated by the increasing number of customer driven sales inquiries we received in the Period and also growing occurrences of positive industry comment. The intangible value of this should not be underestimated, and it is important to note that our product is a groundbreaking new technology solution which, despite obvious economic advantages, has to overcome perceptions of technology risk to secure sales. With respect to this, it is also important to note that by far and away the single most effective tool that our sales team has in overcoming perceptions of technology risk is time. With each week that passes our first superconductor induction heater continues to prove itself in the facilities of our first customer making it evermore easier for our sales teams to address concerns based around technology risk. For this reason our growing list of accomplishments with the induction heater that now include the first commercial sale, the first installation and operation in commercial premises and sales to two further highly regarded metals producers, all demonstrate the continued progress we are making with the commercialisation and de-risking of our product. Accordingly, it should be noted that the general slowdown in the industry is creating a continually growing latent equipment demand that in the future will need to be serviced. For this reason we have every confidence that whilst the slowdown has delayed sales, it has also served to increase the overall value proposition of our nascent induction heater business as we will now compete for future sales with an ever more de-risked, recognised and accepted technology solution. Fault Current Limiters As announced on the 9th of March the first half of 2009 saw the successful installation of our first superconductor grid protection device (called the Fault Current Limiter 'FCL') into the United States electricity grid. This FCL is a medium-voltage unit that was installed by Southern California Edison into their Avanti distribution grid located in Los Angeles. Since that time we have continued to work with Southern California Edison on monitoring the performance of the FCL unit. Building on the successful commercialisation of our medium-voltage unit, we continued throughout the Period to progress the development of our next FCL product designed specifically to operate in high-voltage grid locations. This development work progressed well and we were pleased to announce at the beginning of the second half that we had successfully tested the new high-voltage design that has increased performance with a significantly smaller size (known as the 'compact' design). Following this, we remain in discussion with a number of utility companies who have expressed interest in participating in our ongoing US$11m U.S. Department of Energy project, and hope to secure a partner for the installation of a high-voltage unit in the second half of this year. Separately, we continue to work with The Consolidated Edison Company of New York in the evaluation of their grid protection requirements for New York City. Recognition Lastly it is particularly important to note the dedication and hard work of all of our employees in Europe, America and Australia that brought about the significant progress made during the Period. We are now positioned to achieve the third deployment of a new product within 2 years and it is testament to the continuing hard work of all our teams that these three product developments have been achieved so rapidly and with so few unforeseen challenges. To achieve this with a revolutionary group of materials like superconductors is a significant technical accomplishment; our challenge now is to mirror this technical accomplishment with commercial success. I have no doubt in our ability to achieve these commercial goals and thank everyone for their extraordinary efforts and wish them continued success for the rest of 2009. Dr. Jens M Chief Executive Officer 11 September 2009 Consolidated income statement For the six months ended 30 June 2009 Unaudited Unaudited Audited Notes Six months to 30 Six months to 30 Year ended 31 June 2009 June 2008 December 2008 EUR000 EUR000 EUR000 Revenue 2 214 1,043 2,028 Cost of sales (185) (802) (1,580) Gross profit 29 241 448 Other operating income 3 453 307 842 Sales and marketing expenses (824) (498) (876) Administrative expenses (1,892) (1,721) (3,934) Research & development (2,038) (1,428) (3,028) expenses Strategic marketing project 4 (255) - (691) Loss before research & (1,486) (1,179) (2,478) development, depreciation & amortisation, strategic marketing project & equity settled share based payments Research & development (2,038) (1,428) (3,028) expenses Depreciation & amortisation (469) (307) (699) Equity settled share-based (279) (185) (343) payment expenses Strategic marketing project 4 (255) - (691) Operating loss 2 (4,527) (3,099) (7,239) Financial income 5 30 539 1,974 Financial expenses 5 (489) (30) (47) Net financing (expense)/ 2,5 (459) 509 1,927 income Loss before tax 2 (4,986) (2,590) (5,312) Taxation 2 13 92 40 Loss for the period 2 (4,973) (2,498) (5,272) Earnings/(loss) per share (Euros) Basic and fully diluted loss 6 (0.11) (0.06) (0.12) per share Consolidated statement of comprehensive income For the six months ended 30 June 2009 AuditedYear to 31 Unaudited Six months Unaudited Six months December 2008 to 30 June 2009 to 30 June 2008 EUR000 EUR000 EUR000 Loss for the period (4,973) (2,498) (5,272) Foreign exchange differences 684 (1,323) (2,407) on translation of foreign operations Other comprehensive income for 684 (1,323) (2,407) the period, net of tax Total comprehensive income for (4,289) (3,821) (7,679) the period Consolidated balance sheet Note Unaudited 30 June Unaudited 30 June 2008 Audited 2009 31 December 2008 EUR000 EUR000 EUR000 Non-current assets Property, plant and equipment 7 3,423 2,080 2,685 Goodwill 8 1,335 1,228 1,341 Other intangible assets 8 5,897 3,801 5,174 10,655 7,109 9,200 Current assets Inventories 1,248 501 508 Trade and other receivables 1,353 947 1,902 Research & development tax - 232 - credit receivable Cash and cash equivalents 11,710 12,580 6,797 14,311 14,260 9,207 Total assets 24,966 21,369 18,407 Current liabilities Trade and other payables (2,317) (1,658) (1,978) Non current liabilities Deferred tax liabilities (638) (594) (660) Total liabilities (2,955) (2,252) (2,638) Net assets 22,011 19,117 15,769 Equity attributable to equity holders of the parent Share capital 9 738 646 649 Share premium 42,213 31,701 32,050 Translation reserve (2,108) (1,708) (2,792) Warrant reserve 200 200 200 Retained loss (19,032) (11,722) (14,338) Total equity attributable to 22,011 19,117 15,769 shareholders Consolidated cash flow statement For the six months ended 30 June 2009 Notes Unaudited 30 June Unaudited 30 June Audited 2009 2008 31 December 2008 EUR000 EUR000 EUR000 Cash flows from operating activities Loss for the period (4,973) (2,498) (5,272) Adjustments for: Depreciation and amortisation 7,8 469 307 699 Foreign exchange 330 168 2,128 gains/(losses) Loss on sale of fixed assets 39 - 70 Financial income 5 (30) (539) (1,974) Financial expenses 5 489 30 47 Equity settled share-based 279 185 343 payment expenses Taxation (13) (92) (40) Operating loss before changes (3,410) (2,439) (3,999) in working capital and provisions Increase in trade and other (223) (128) (392) receivables (Increase)/Decrease in stock (740) 42 35 Decrease/(Increase) in trade 290 (299) 4 and other payables Cash absorbed by operations (4,083) (2,824) (4,352) Tax received/(paid) - - 133 Net cash from operating (4,083) (2,824) (4,219) activities Cash flows from investing activities Interest received 24 389 614 Proceeds from the sale of 1 - - fixed assets Acquisition of property, plant 7 (1,098) (689) (1,637) and equipment Development expenditure 8 (873) (859) (2,168) capitalised and other intangible assets acquired Net cash from investing (1,946) (1,159) (3,191) activities Cash flows from financing activities Proceeds from the issue of 9 10,252 30 30 share capital Equity issued for services - - 352 Net cash inflow from financing 10,252 30 382 activities Net (decrease)/increase in 4,223 (3,953) (7,028) cash and cash equivalents Cash and cash equivalents at 6,797 17,746 17,746 start of period Effect of exchange rate 690 (1,213) (3,921) fluctuations on cash held Cash and cash equivalents at 11,710 12,580 6,797 end of period Consolidated statement of changes in equity For the six months ended 30 June 2009 Share Share Translation reserve Warrant reserve Retained Total equity capital premium earnings EUR000 EUR000 EUR000 EUR000 EUR000 EUR000 Balance at 1 January 2009 649 32,050 (2,792) 200 (14,338) 15,769 Loss for the period - - - - (4,973) (4,973) Other comprehensive income Foreign exchange differences - - 684 - - 684 on translation of foreign operations Total comprehensive income for - - 684 - (4,973) (4,289) the period Transactions with equity holders Equity settled share based - - - - 279 279 payments transactions Paid in share capital - cash 89 10,163 - - - 10,252 Balance at 30 June 2009 738 42,213 (2,108) 200 (19,032) 22,011 Share Share Translation reserve Warrant reserve Retained Total equity capital premium earnings EUR000 EUR000 EUR000 EUR000 EUR000 EUR000 Balance at 1 January 2008 645 31,672 (385) 200 (9,409) 22,723 Loss for the period - - - - (2,498) (2,498) Other comprehensive income Foreign exchange differences - - (1,323) - - (1,323) on translation of foreign operations Total comprehensive income for - - (1,323) - (2,498) (3,821) the period Transactions with equity holders Equity settled share based - - - - 185 185 payments transactions Paid in share capital - share 1 29 - - - 30 options exercised Balance at 30 June 2008 646 31,701 (1,708) 200 (11,722) 19,117 Share Share Translation reserve Warrant reserve Retained Total equity capital premium earnings EUR000 EUR000 EUR000 EUR000 EUR000 EUR000 Balance at 1 January 2008 645 31,672 (385) 200 (9,409) 22,723 Loss for the period - - - - (5,272) (5,272) Other comprehensive income Foreign exchange differences - - (2,407) - - (2,407) on translation of foreign operations Total comprehensive income for - - (2,407) - (5,272) (7,679) the period Transactions with equity holders Equity settled share based - - - - 343 343 payments transactions Paid in share capital - cash 4 378 - - - 382 and services Balance at 31 December 2008 649 32,050 (2,792) 200 (14,338) 15,769 The aggregated current and deferred tax relating to items that are charged or credited to equity is EURNil. Notes 1. Basis of preparation The condensed consolidated interim financial statements for the six months ended 30 June 2009 have been prepared using the recognition and measurement principles of applicable International Financial Reporting Standards adopted by the European Union ('IFRS'), which include International Accounting Standards ('IAS') and interpretations issued by the International Accounting Standards Board ('IASB') and its committees, which are expected to be endorsed by the European Union. The financial information included in this document is unaudited and does not comprise statutory accounts within the meaning of section 240 of the Companies Act 1985. The comparative figures for the year ended 31 December 2008 are extracted from the statutory financial statements for that financial period which have been filed with the Registrar of Companies and on which the auditor gave an unqualified report, without any statement under section 237(2) or (3) of the Companies Act 1985. The interim financial statements have been prepared under the same accounting policies as those used for the financial statements for the year ended 31 December 2008 except for the application of revised IAS1 Presentation of Financial Statements (2007) and IFRS8 Operating Segments which became effective on 1 January 2009. The revised presentation required by IAS1 results in the consolidated statement of recognised income and expense being replaced by a new consolidated statement of comprehensive income which presents all non-owner changes in equity. A consolidated statement of changes in equity is also brought forward to the primary statements, having previously been included in the notes. This statement presents all owner and non-owner changes in equity. Comparative information has been re-presented so that it is also in conformity with the revised standard. IFRS 8 Operating segments introduces the management approach to segment reporting based on information presented to the Group's Board of Directors. Following adoption of IFRS 8, the Group's reporting segments have not changed significantly. Since the change in accounting policies only impacts the presentation of financial statements, there is no impact on earnings per share. Numerous other IFRS and interpretations have been endorsed by the EU in the period to 1 June 2009 and although they have been adopted by the Group, none of them has had a material impact on the Group's financial statements. The Group's 2008 annual report provides full details of significant judgements and estimates used in the application of the Group's accounting policies. There have been no significant changes to these judgements and estimates during the period. The interim statements are prepared on a going concern basis. The directors consider that the group has adequate funding to enable it to continue to operate for at least 12 months from the date of signing these accounts. 2. Segmental reporting Geographic segments For management purposes, the Group is currently organised into four geographical regions based on the location of the Group's assets - Germany, USA, Australia and UK. These geographical regions are the basis on which the Group reports its primary segment information. Business segment The Group has one business segment, being the development and production of high temperature superconducting wires, components and applications. Six months to 30 June 2009 Germany USA Australia UK Eliminations Consolidated EUR000 EUR000 EUR000 EUR000 EUR000 EUR000 Revenue Total revenue 857 - 388 - (1,031) 214 Result Segment result being loss from (2,187) (881) (15) (1,064) (380) (4,527) operations Net financial income 1 1 - (461) - (459) Loss before tax (2,186) (880) (15) (1,525) (380) (4,986) Tax - - - - 13 13 Loss for the period (2,186) (880) (15) (1,525) (367) (4,973) Other information Capital additions 1,336 993 8 - (366) 1,971 Depreciation and amortisation (300) (111) (25) - (33) (469) Balance sheet Segment assets 7,163 4,020 841 37,474 (24,532) 24,966 Segment liabilities (1,836) (52) (31) (399) (637) (2,955) Net assets/(liabilities) 5,327 3,968 810 37,075 (25,169) 22,011 Six months to 30 June 2008 Germany USA Australia UK Eliminations Consolidated EUR000 EUR000 EUR000 EUR000 EUR000 EUR000 Revenue Total revenue 964 79 - - - 1,043 Result Segment result being loss from (1,723) (703) (141) (503) (29) (3,099) operations Net financial income 10 (27) 1 525 - 509 Loss before tax (1,713) (730) (140) 22 (29) (2,590) Tax - - 81 - 11 92 Loss for the period (1,713) (730) (59) 22 (18) (2,498) Other information Capital additions 963 304 281 - - 1,548 Depreciation and amortisation (183) (103) (21) - - (307) Balance sheet Segment assets 4,352 1,242 1,021 29,765 (15,011) 21,369 Segment liabilities (1,308) (70) (92) (187) (595) (2,252) Net assets/(liabilities) 3,044 1,172 929 29,578 (15,606) 19,117 3. Other operating income Six months Six months to Year to to 30 June 2008 31 December 2008 30 June 2009 EUR000 EUR000 EUR000 Government grants 451 202 718 Other 2 105 124 453 307 842 4. Strategic marketing Six months to Six months to Year to 30 June 2009 30 June 2008 31 December 2008 EUR000 EUR000 EUR000 Strategic marketing study 255 - 691 On the 31st October 2008 the Company contracted Bain & Company to undertake a strategic marketing study for the Group in respect of the induction heater market. The total cost of the project, which was completed in March 2009 was EUR946,000 (�827,000). The first payment EUR352,000 (�300,000), was satisfied in shares in accordance with the contract. The remaining fees EUR594,000 (�527,000) were paid in cash in the first half of 2009. 5. Finance income and expense Six months to Six months to Year to 30 June 2009 30 June 2008 31 December 2008 EUR000 EUR000 EUR000 Financial income Interest income - bank 22 370 589 Foreign exchange gain on - 85 1,332 forward contracts Foreign exchange gain on cash - - 42 held Foreign exchange gain 8 84 11 Financial income 30 539 1,974 Financial expense Foreign exchange loss on cash (202) - - held Foreign exchange loss (286) (30) (45) Other interest expense (1) - (2) Financial expense (489) (30) (47) Net financial (expense)/income (459) 509 1,927 6. Earnings per share Basic earnings per share The calculation of basic earnings per share for the six months ended 30 June 2009 was based on the loss attributable to ordinary shareholders of EUR4,973,000 (Six months ended 30 June 2008: EUR2,498,000) and a weighted average number of Ordinary Shares outstanding during the period of 45,562,000 (Six months ended 30 June 2008: 44,014,000) calculated as follows: Thousand of shares Six months to Six months to Year to 30 June 2009 30 June 2008 31 December 2008 Issued ordinary shares at 44,325 43,948 43,948 start of period Placing - May 2009 1,237 - - Share options exercised - 66 78 Shares issued for services - - 16 Weighted average number of 45,562 44,014 44,042 ordinary shares Diluted earnings per share Share options and warrants have not been included in the calculation of fully diluted earnings per share since these are anti-dilutive. The instruments that could potentially dilute the basic earnings per share in the future, but were not included because they were anti-dilutive for the periods presented are: Thousand of shares 30 June 2009 30 June 2008 31 December 2008 Warrants issued in respect of 160 160 160 the working capital facility from Cloverleaf Holdings Limited (issued 16 August 2006) Share options 2,430 1,402 1,858 Total potential dilutive 2,590 1,562 2,018 instruments Nil share options lapsed in the period (Period to 30 June 2008: 55,008). 7. Property, plant and equipment Technical plant and Tenant improvements Office and business Assets under Total equipment equipment construction EUR000 EUR000 EUR000 EUR000 EUR000 Cost Balance at 1 January 2008 1,676 - 365 210 2,251 Additions 432 - 61 196 689 Effect of movements in foreign (37) - (3) - (40) exchange Balance at 30 June 2008 2,071 - 423 406 2,900 Balance at 1 January 2009 2,768 155 505 352 3,780 Additions 90 5 44 959 1,098 Disposals (116) - (39) - (155) Effect of movements in foreign (5) - 19 - 14 exchange Balance at 30 June 2009 2,737 160 529 1,311 4,737 Depreciation Balance at 1 January 2008 (427) - (153) - (580) Depreciation charge for the (179) - (75) - (254) period Effect of movements in foreign 14 - - - 14 exchange Balance at 30 June 2008 (592) - (228) - (820) Balance at 1 January 2009 (807) (4) (284) - (1,095) Depreciation charge for the (243) (12) (79) - (334) period Disposals 84 - 31 - 115 Effect of movements in foreign 7 - (7) - - exchange Balance at 30 June 2009 (959) (16) (339) - (1,314) Net book value At 30 June 2008 1,479 - 195 406 2,080 At 30 June 2009 1,778 144 190 1,311 3,423 No assets are held under finance leases. 8. Intangible assets Goodwill Patents and Development rights Total Trademarks EUR000 EUR000 EUR000 EUR000 Cost Balance at 1 January 2008 1,303 866 2,488 4,657 Additions - 51 808 859 Effect of movements in foreign (75) (54) (135) (264) exchange Balance at 30 June 2008 1,228 863 3,161 5,252 Balance at 1 January 2009 1,341 958 4,586 6,885 Additions - 2 871 873 Effect of movements in foreign (6) (10) (10) (26) exchange Balance at 30 June 2009 1,335 950 5,447 7,732 Amortisation Balance at 1 January 2008 - (133) (45) (178) Amortisation charge for the - (41) (12) (53) period Effect of movements in foreign - 8 - 8 exchange Balance at 30 June 2008 - (166) (57) (223) Balance at 1 January 2009 - (242) (128) (370) Amortisation charge for the - (55) (80) (135) period Effect of movements in foreign - 5 - 5 exchange Balance at 30 June 2009 - (292) (208) (500) Net book value At 30 June 2008 1,228 697 3,104 5,029 At 30 June 2009 1,335 658 5,239 7,232 Amortisation and impairment charge The amortisation charge is recognised in administrative expenses. Patents and Trademarks are amortised over a 15 year period. Development rights are amortised over a five to ten year period, commencing when the product under development is available for sale. Goodwill Goodwill is allocated as follows: Zenergy Power GmbH EUR170,000, Zenergy Power, Inc. EUR1,087,000 and Zenergy Power Pty Ltd EUR78,000, the entities are considered to be the smallest cash generating unit to which goodwill can be allocated. Goodwill is tested annually for impairment. Goodwill is denominated in the currency of the acquired entity. 9. Capital and reserves Share capital 30 June 2009 30 June 2008 31 December 2008 Ordinary shares in thousands of shares On issue at start of period 44,325 43,948 43,948 Issued for cash - 90 90 Issued in settlement of - - 287 services Placing - May 2009 7,917 - - On issue - fully paid 52,242 44,038 44,325 30 June 30 June 30 June 30 June 31 December 31 December 2009 2009 2008 2008 2008 2008 �000 EUR000 �000 EUR000 �000 EUR000 Authorised Ordinary shares of �0.01 each 1,000 1,174 1,000 1,264 1,000 1,050 Allotted, called up and fully paid Ordinary shares of �0.01 each 522 738 440 646 443 649 Shares classified in equity 738 646 649 The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at meetings of the Group. On 25 January 2008, 73,119 new Ordinary Shares were issued in respect of an exercise of options resulting in proceeds of �17,998 (EUR24,289). On 6 May 2008, 6,873 new Ordinary Shares were issued in respect of an exercise of options resulting in proceeds of �1,500 (EUR1,905). On 11 June 2008 10,417 new Ordinary Shares were issued in respect of an exercise of options resulting in proceeds of �3,125 (EUR3,950). On 11 December 2008, 287,082 new Ordinary Shares were issued in satisfaction and settlement of fees for services provided by Bain & Company, Inc, �300,000 (EUR352,000). On 5 May 2009 7,916,667 new ordinary 1p shares were issued, at a price per share of �1.20, raising �9.5 million gross (�9.1 million net of fees) which at the exchange rate prevailing on that date was equivalent to EUR10.8 million gross (�10.3 million net of fees). Translation reserve The translation reserve comprises all foreign exchange differences arising from the translation of the financial statements of foreign operations. Warrant reserve The warrant reserve comprises the fair value of the equity component of warrants issued by the Group. About Zenergy Power plc Zenergy Power is a superconductor energy technology company, quoted on the AIM market of the London Stock Exchange and comprising three operating subsidiaries located in Germany, USA and Australia. The Group's commercial focus is the innovation and manufacture of clean energy solutions that are built around a range of patented superconductor technologies and capable of delivering huge efficiency and cost improvements to the generation, distribution and consumption of electrical energy. Today, the Group's groundbreaking superconductive solutions are already delivering energy savings to industrial users of electrical energy and providing cutting-edge protection from electrical power surges to the United State's electricity grid. Looking to the near future, the Group is currently developing a range of highly energy efficient superconductor components for a new class of electricity generators capable of delivering significant cost savings to the production of renewable energy. These cost savings will enable renewable energy to more effectively compete with traditional thermal power generation and lead to a greater reduction in carbon emission levels and a more sustainable economic future. In 2007, Zenergy Power became the first company in the world to complete a commercial sale of an industrial scale superconductor application and has subsequently developed products capable of addressing several multi-billion dollar global markets. Following this in the first quarter of 2009, the Group proudly became the first company to install and operate a superconductor smart grid device, capable of significantly reducing the damaging effects of large-scale power surges, into the United State's electricity grid. In line with this leading industry position, Zenergy Power is also manufacturing core components for what is due to be the world's first superconductor electricity generator which is due for installation into E.ON AG's commercial hydro dam in January 2010. It is anticipated that the installation of the superconductor generator will increase the electricity output of this generator by 36%. 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. Superconductors enable: * Energy intensive industrial applications capable of reducing energy consumption by 50% * The protection of national power grids from blackouts * The production of revolutionary light-weight, efficient 10MW class renewable wind generators capable of reducing the cost of offshore wind power by 25% * The production of a new class of compact and efficient hydro generators capable of significantly increasing electrical power output from existing and new hydro dam structures This information is provided by RNS The company news service from the London Stock Exchange END IR CKBKPCBKKDCD More
10-09-09	STOCKS NEWS UK-Zenergy up after Australian grant	AFX UK Focus
`STOCKS NEWS Reuters Results diary` `Europe Real-time Equity News` `UK Stocks on the move` `UK smallcaps UK smallcaps news` `10:09GMT 10Sep2009-Zenergy up after Australian grant` ---------------------------------------------------- `Shares in Zenergy Power Plc rise as much as 6 percent after the superconductor specialist wins a grant from the Australian Research Council to support the development of its high-voltage Fault Current Limiter (FCL).` `Panmure Gordon analyst Mark Davis, who has a "buy" rating and 220-pence price target on Zenergy, says FCLs are yet to be used commercially but there is significant latent demand from utilities.` `"The FCL should help to resolve a pressing issue for utilities as electricity grids suffer from increasing consumer demand, whilst trying to deliver the various mandates for distributed generation such as wind and solar," he says.` `For more information please click on` Reuters messaging rm://ram.kumar.thomsonreuters.com@reuters.net `09:32GMT 10Sep2009-Galliford Try falls on rights issue; sector up` ----------------------------------------------------------------- `Shares in Galliford Try PLC fall as much as 9.7 percent after the housebuilder and construction company announces a rights issue to raise 126 million pounds, but analysts are bullish on the company's prospects.` `"The money raised backs land deals already made at prices others will find hard to match," says Robin Hardy, analyst with KBC Peel Hunt.` `"Also, the scale of the investment helps unwind legacy margin issues in the landbank."` `Other housebuilders are up after data shows house prices in Britain rose 0.8 percent in August.` `Barratt Developments rises as much as 3.9 percent and Taylor Wimpey rises 2.2 percent, also boosted by positive comment from Banc of America-Merrill Lynch.` `Redrow falls 4 percent after its full-year results.` `For more on Galliford Try, please click on` Reuters messaging rm://sharon.lindores.thomsonreuters.com@reuters.net `09:19GMT 10Sep2009-Tour operators up as placing set to complete` --------------------------------------------------------------- `Shares in Thomas Cook rise as much as 6 percent on talk banks holding stricken German retailer Arcandor's 44 percent stake in Europe's second-biggest travel company will announce later on Thursday that the stock has been placed with institutions at a small discount to Wednesday's close.` `Traders say they expect the shares, which were held as collateral against a loan taken out by Arcandor by banks including BayernLB, Royal Bank of Scotland and Commerzbank, to be placed at a price of around 240 pence per share following strong demand from institutions, compared with Wednesday's closing price of 245 pence.` `Analysts also expect the placing to have attracted strong support.` `"Given that the placing will almost double Thomas Cook's weighting in the FTSE 100, a large number of shares will be bought by UK index trackers. A new supportive shareholder base will allow the group to pursue a long-term strategy of consolidation," says Panmure analyst Simon French.` `Meanwhile, shares in Europe's biggest tour operator TUI Travel rise as much as 7 percent on the read-across from the strong demand for Thomas Cook stock.` `"It's going to draw TUI upwards. It's raised both of their positions. They're both very good medium-term recovery situations," says another analyst who asked not to be named.` Reuters messaging rm://matthew.scuffham.reuters.com@reuters.net `09:13GMT 10Sep2009-Genus rises after results; profits up` -------------------------------------------------------- `Shares in Genus gain 4.3 percent after the British cattle genetics company posts a 15 percent rise in pretax profit, which prompts Panmure Gordon to upgrade its rating to "buy" from "hold" and raise its target price to 700 pence from 580 pence.` `"Given the exceptionally weak end markets in dairy and porcine, this, in our view, highlights an impressive level of resilience in the Genus business model," the broker says in a note.` `For more double click on` Reuters Messaging rm://david.brett.reuters.com@reuters.net `08:45GMT 10Sep2009-Kesa dragged down by weaker overseas ops` ----------------------------------------------------------- `Shares in Kesa fall 4.1 percent after Europe's third-largest electricals retailer posts a 3.9 percent fall in first-quarter underlying revenues, with sales at French market leader Darty dropping 3.7 percent and its other European businesses down 10 percent.` `Shares in the company have risen around 40 percent in the last two months on improved sentiment across the retail sector but worries about its international operations persist.` `"We remain cautious on the French consumer and results from its other international businesses are weak," says Investec analyst David Jeary. "The shares have had a strong run into this statement but some upgrades are expected."` `For more, click on` Reuters messaging rm://rhysl.jones.reuters.com@reuters.net `08:23GMT 10Sep2009-Home Retail falls on profit taking` ----------------------------------------------------- `Shares in Home Retail fall 5.3 percent to top the FTSE 100 fallers as investors take profits after Britain's biggest household goods retailer reports better than expected second-quarter sales at both its Argos and Homebase businesses.` `Shares in Home Retail have risen around 20 percent in the last month and have bounced back after hitting an all-time low last November.` `"Home Retail and retailers in general have had a very good run over the last few weeks and I think investors are finding any excuse possible to take profits at the moment. That's what appears to be happening with Home Retail," a trader at KBC Peel Hunt says.` `Within the UK retail sector, Kingfisher drops 3.2 percent, Next loses 2.8 percent and Marks & Spencer eases 2.2 percent.` `For more double click on` Reuters Messaging rm://rhysl.jones.reuters.com@reuters.net `08:10GMT 10Sep2009-Hilton Food up on strong H1, upbeat outlook` -------------------------------------------------------------- `Shares in Hilton Food Group Plc rise 1.3 percent after the meat-packaging firm posts a 7 percent growth in first-half pretax profit and says it expects to meet its forecast for financial year 2009.` "Despite tough trading conditions, Hilton has delivered a strong H1 performance... These results underpin our expectation of 10.6 percent earnings per share growth for the year," says analyst Graham Jones of Panmure Gordon. `Jones, who has a "buy" rating on the stock, raises his price target to 235 pence from 220 pence.` `For more details please click on` Reuters messaging rm://tresa.sherin.reuters.com@reuters.net `08:05GMT 10Sep2009-Desire Petroleum soars on rig contract` --------------------------------------------------------- `Shares in Desire Petroleum Plc soar as much as 34 percent after the oil and gas explorer secures a rig to drill in the Falklands Islands.` `"This is very positive news for Desire and its partners, Rockhopper and Arcadia, both of which have interests in the North Basin," Evolution Securities says, pointing out that this is the first rig that has gone to the south Atlantic islands since 1998.` `The broker adds that it would not be surprised if both Borders & Southern and Falkland Oil & Gas also seek to use the rig while it is in the area.` `Borders & Southern shares are up 12 percent, while Falkland Oil shares are up 7 percent.` `Seymour Pierce says: "Securing a rig has been the key to near-term share price performance and this is very good news."` `For more double click on` Reuters messaging rm://balachander.surianarayanan.reuters.com@reuters.net `07:46GMT 10Sep2009-UK small caps up 0.2 pct early on` ---------------------------------------------------- `The FTSE Small Cap index is up 0.2 percent in early trade, mirroring gains on the FTSE 100 index which consolidates above the 5,000 level, while the FTSE 250 index advances 0.6 percent.` `Miner Anglo Pacific is a good small cap gainer, up 7.8 percent after saying that initial coal resources at its Trefi coal project in British Columbia, Canada is 90.95 million tonnes.` `Construction firm Galliford Try sheds 8.6 percent as it announces a rights issue to raise 125.6 million pounds ($207.8 million) for land buys as it reports a swing to a full-year pretax loss.` `For more details on Galliford Try, double click on` Reuters Messaging rm://jon.hopkins.reuters.com@reuters.net `07:45GMT 10Sep2009-Morrison dips on profit taking` ------------------------------------------------- `Shares in Wm Morrison Supermarkets fall as much as 4.6 percent to 271.4 pence as investors take profits following a strong, but as-expected, rise in first-half profits from Britain's fourth-biggest grocer.` "Certainly strong results have been anticipated given the share price performance over the last week. However, we think there is still plenty of operating upside and future cash flow/dividend opportunity," Credit Suisse analysts say in a research note, keeping an "outperform" rating on the shares. `"The figures were exceptional but in line with expectations," add Seymour Pierce analysts, keeping their "buy" rating on the stock.` `For more double click on` Reuters Messaging: rm://mark.potter.reuters.com@reuters.net COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More
10-09-09	Zenergy Power PLC - Australian Grant for FCL Development	RNS
RNS Number : 7999Y Zenergy Power PLC 10 September 2009 Zenergy Power plc ('Zenergy Power' or the 'Group') Australian Grant for FCL Development Zenergy Power (AIM:ZEN.L), the superconductor energy technology company, is pleased to announce that its wholly owned subsidiary, Zenergy Power Pty Ltd, has been awarded a three year research and development grant from the Australian Research Council to support the ongoing development of the Group's high-voltage Fault Current Limiter. As a result of the grant Zenergy Power will gain access to up to A$800,000 of research resources including highly experienced personnel from the University of Wollongong, Australia. In particular, the grant will support Zenergy Power's research into novel magnetic materials and unique arrangements of cores and coils that will contribute to making future FCLs smaller, lighter, and cheaper to produce. Ends- Further information `Andrew Tan Zenergy Power Plc + 44 207 602 7420` `David Bick Square1 Consulting Ltd + 44 207 929 5599` `Andrew Godber/Katherine Roe Panmure Gordon & Co + 44 207 459 5742` `Kam Bansil/Rory Scott Mirabaud Securities Limited + 44 207 866 0244` About Zenergy Power plc Zenergy Power is a superconductor energy technology company, quoted on the AIM market of the London Stock Exchange and comprising three operating subsidiaries located in Germany, USA and Australia. The Group's commercial focus is the innovation and manufacture of clean energy solutions that are built around a range of patented superconductor technologies and capable of delivering huge efficiency and cost improvements to the generation, distribution and consumption of electrical energy. Today, the Group's groundbreaking superconductive solutions are already delivering energy savings to industrial users of electrical energy and providing cutting-edge protection from electrical power surges to the United State's electricity grid. Looking to the near future, the Group is currently developing a range of highly energy efficient superconductor components for a new class of electricity generators capable of delivering significant cost savings to the production of renewable energy. These cost savings will enable renewable energy to more effectively compete with traditional thermal power generation and lead to a greater reduction in carbon emission levels and a more sustainable economic future. In 2007, Zenergy Power became the first company in the world to complete a commercial sale of an industrial scale superconductor application and has subsequently developed products capable of addressing several multi-billion dollar global markets. Following this in the first quarter of 2009, the Group proudly became the first company to install and operate a superconductor smart grid device, capable of significantly reducing the damaging effects of large-scale power surges, into the United State's electricity grid. In line with this leading industry position, Zenergy Power is also manufacturing core components for what is due to be the world's first superconductor electricity generator which is due for installation into E.ON AG's commercial hydro dam in January 2010. It is anticipated that the installation of the superconductor generator will increase the electricity output of this generator by 36%. 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. Superconductors enable: ENERGY INTENSIVE INDUSTRIAL APPLICATIONS CAPABLE OF REDUCING ENERGY CONSUMPTION BY 50% THE PROTECTION OF NATIONAL POWER GRIDS FROM BLACKOUTS THE PRODUCTION OF REVOLUTIONARY LIGHT-WEIGHT, EFFICIENT 10MW CLASS RENEWABLE WIND GENERATORS CAPABLE OF REDUCING THE COST OF OFFSHORE WIND POWER BY 25% THE PRODUCTION OF A NEW CLASS OF COMPACT AND EFFICIENT HYDRO GENERATORS CAPABLE OF SIGNIFICANTLY INCREASING ELECTRICAL POWER OUTPUT FROM EXISTING AND NEW HYDRO DAM STRUCTURES This information is provided by RNS The company news service from the London Stock Exchange END MSCSSUFIUSUSEEU More

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