6 January 2012
Zenergy Power PLC("Zenergy" or "the Company")
Trading update and settlement of German subsidiary
As previously announced last year, the Company is now focused
on the market for non- superconductive magnetic Fault Current
Limiters (mFCL). The Board continues to believe that there is
a commercial opportunity for mFCLs and potential sales are
being pursued with a number of companies.
The Company is also pleased to report that it has come to a
full and final settlement with the
Administrator of its German subsidiary, Zenergy Power GmbH.
The Company has paid
€150,000 in return for certain assets, settlement of all
inter-company accounts and confirmation of full title to the
necessary intellectual property rights to manufacture non-
superconducting mFCLs. In addition, the Company will also
receive a royalty on all sales of
2G wire for the next 10 years if the major industrial
corporation that has acquired the
technology are successful in completing the development and
commercialising the Zenergy
Power GmbH 2G wire program.
The Company will be announcing its preliminary results for
the year ended 31 December
2011 on Friday, 10 February 2012 and shareholders will be
more fully updated at that time.
Ends
For further information please contact:
Simon Cleaver | Zenergy Power plc. | +44 1344 667 347 |
Adam Pollock/Katherine Roe | Panmure Gordon | +44 207 459 3600 |
David Bick/Mark Longson | Square1 Consulting | +44 207 929 5599 |
distribué par | Ce noodl a été diffusé par Zenergy Power plc et initialement mise en ligne sur le site http://www.zenergypower.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-06 08:41:50 AM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
Documents associés | |
Trading update and settlement of German subsidiary |