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Company Energetix Group plc
TIDM FLOW
Headline

Directorate Change

Released 07:00 12-Feb-2013
Number 6668X07

RNS Number : 6668X
Energetix Group plc
12 February 2013
 



Energetix Group plc

("Energetix" or the "Group" or the "Company")

 

Directorate Change

 

Energetix Group plc (AIM: EGX), the developer and provider of energy efficient products and retail energy services through the Flow brand, announces that Adrian Hutchings, Deputy Chairman, has today stepped down from the Board with immediate effect, but will remain as an employee of the Company until 31 October 2013.

 

Adrian Hutchings founded Energetix Group in 1998 and has been instrumental in overseeing the technical development of the Company's flagship product, the Flow boiler: a highly efficient, compact, lightweight, wall mounted microCHP (Combined Heat and Power) appliance for the home. With the technical development of the product nearing its conclusion Adrian has decided to pursue other interests outside the Company.

 

Peter Richardson, who took on the Group Chief Executive Officer role from Adrian in September 2012, is now well established in the business and has the skills and experience, developed through his 15 years as Chief Operating Officer at Dyson, to drive the production, delivery and installation of high volumes of the Flow boiler throughout the UK.

 

Adrian Hutchings, outgoing Deputy Chairman, said:

"I am very proud of my role in developing the microCHP technology underpinning Flow Energy and the transformation of the business from the development stage into the commercialisation phase. As I stated in the 2011 Report & Accounts my skill sets are in technology development and with the Energetix team now focussed on building a product delivery business I now wish to concentrate my technology development expertise outside of the Group's current interests. I remain confident that Energetix shares have considerable potential, and I am a great believer in the Flow boiler technology and the opportunity that Energetix has to become a major supplier of innovative energy solutions in the UK."

 

Clare Spottiswoode, Executive Chairman of Energetix Group, said:

"Adrian created the Company and his technical knowledge has been fundamental in establishing Energetix as a leading innovator in the microCHP arena. I would like to thank Adrian for his tireless work in developing and improving the Flow boiler and it is to his credit that we have an exciting product which will revolutionise the UK energy market."

 

Mr Hutchings holds 11,565,465 Energetix shares, representing approximately 8.7% of the Company's issued share capital.   

 

 

For further information please contact:

 

Energetix Group plc

www.energetixgroup.com

Peter Richardson, Chief Executive Officer

Tel: +44 (0)151 348 2100

 

 

Cenkos Securities plc (NOMAD & Broker)

www.cenkos.com

Stephen Keys / Adrian Hargrave (Corporate Finance / Nomad)

Julian Morse (Sales)

Tel: +44 (0)20 7397 8900

 

 

Walbrook PR Ltd

Tel: +44 (0)20 7933 8780

Paul McManus (Media Relations)

paul.mcmanus@walbrookpr.com

Paul Cornelius (Investor Relations)

paul.cornelius@walbrookir.com

 



About Energetix Group plc

 

Energetix Group plc is a developer of cost-effective products to meet the growing global demand for alternative efficient energy. Currently Energetix has two subsidiary businesses:

 

Flow                                      - microCHP energy generation and retail electricity & gas

Pnu Power                          - compressed air back-up power for the protection of essential systems

 

In addition, Energetix has a c.25.7% stake in VPhase plc, an energy efficiency business created by Energetix and subsequently spun out in 2010. VPhase is now a standalone independently funded commercial venture.

 

With all technology development now completed Energetix is well positioned as it moves to the commercialisation stage of its corporate development.

 

Flow (formerly Genlec and Kingston Energy) - www.freeflow.uk.com

 

Flow Products has developed a highly efficient, compact and light weight, wall mounted microCHP (Combined Heat and Power) appliance known as the Flow Boiler (formerly the Kingston Boiler). The Flow Boiler is specifically designed to generate 1kW of electrical power to meet the UK's Microgeneration Certification Scheme (MCS) to enable UK owners to receive the Government's Feed-In Tariff for approved microCHP devices. The Flow Boiler therefore has an inherent low total cost of ownership (initial outlay plus maintenance) and has already demonstrated industry leading payback cycles which many analysts believe is the key to unlocking this significant market opportunity.

 

Flow Energy is a unique dual fuel energy company, which will provide free microCHP boilers to its customers in return for a commitment to buy gas and electricity, with a price promise that energy prices will not exceed those of the major energy suppliers.

 

Pnu Power

 

Pnu Power focuses on the provision of compressed air back-up power which can ensure an uninterruptible power supply for critical systems, particularly for the telecoms, data centre and power transmission markets. Pnu Power range has been extended to include the DC100 product that can now meet the demand of the rapidly growing Green Data Centre market, providing a low carbon alternative to flywheels. Pnu Power has been successful in achieving repeat trial sales and is now poised to move out of the trial sales phase and into full volume commercial sales.

 

Energetix Group joined AIM in August 2006. The Group and its subsidiaries and associates are based near Chester, NW England and Ipswich, Suffolk.

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Directorate Change - RNS