• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Direct Energy Continues Investments in New Green Technologies

Posted on: Thursday, 7 February 2008, 09:00 CST

Direct Energy's parent company, Centrica plc. (LSE: CNA), is investing in revolutionary fuel cell technology that could transform the way homes are heated and powered, ultimately helping consumers save energy and reduce carbon dioxide emissions. This new technology could enable North American homes to become mini-power stations which generate their own electricity.

Recently, Centrica announced it has invested Pounds Sterling 20 million (approx. C$39 million) in Ceres Power Holdings plc. (AIM: CWR) Ceres Power is developing a combined heat and power system (CHP) based on solid-oxide fuel cell technology. Once successfully developed, these CHP units will operate in the same manner as domestic central heating boilers in the UK - Boilers, in the UK, are designed to heat hot water for use in the home and for circulation through a radiator system as a heat source. The CHP unit will also deliver low cost, low carbon electricity into the home to reduce the need to buy electricity, while significantly reducing a household's carbon footprint. Ceres' CHP is designed to produce up to 2.5 tonnes less carbon dioxide per year and should reduce a family's energy bill by 25%.

"Direct Energy wants to help consumers and businesses take advantage of new technologies that will help reduce energy consumption, and ultimately greenhouse gas emissions," said Bob Huggard, President, Home and Business Services, Direct Energy. "We are actively looking for ways to help our North American customers integrate more environmentally friendly initiatives into their lives. From high-efficiency furnaces and air conditioners to carbon neutral energy plans, Direct Energy has made a commitment to provide options that make an impact. Investments, such as this, provide our customers with a sneak peak of what lies ahead."

The new Ceres fuel cell-powered boilers generate both heat and electricity for the home through an electrochemical reaction. Whereas conventional centralized power generation suffers from reduced efficiency through wasted heat and the losses associated with transporting electricity through the grid, the new boilers will generate electricity directly in the home, avoiding such wastage and capturing heat for domestic hot water and heating.

The Ceres fuel cell-powered boilers are expected to be available for home use within 2-3 years in the UK. Direct Energy will be working with Ceres Power to bring the technology to North America.

Direct Energy is an industry leader in providing green products and services to residential and business customers. Its Business Services group provides commercial buildings with energy retrofits, installs and maintains energy efficient chillers and boilers and provides demand-side management tools. Its Home Services group maintains, services and installs energy efficient furnaces and air conditioners, improves the efficiency of a home through renovations and provides duct cleaning services. Its Business group sells renewable energy contracts to commercial and industrial customers while the Mass Market Energy group sells carbon neutral gas contracts to residential customers.

About Direct Energy

Direct Energy is one of North America's largest energy and energy-related services providers with over 5 million residential and commercial customer relationships. Direct Energy provides customers with choice and support in managing their energy costs through a portfolio of innovative products and services. A subsidiary of Centrica plc (LSE: CNA), one of the world's leading integrated energy companies, Direct Energy operates in Texas, the north-eastern United States and across Canada. To learn more about Direct Energy, visit www.directenergy.com.

 Contacts: Direct Energy Joshua Orzech (416) 590-3306 Email: joshua.orzech@directenergy.com Website: www.directenergy.com

SOURCE: Direct Energy

Source: MARKET WIRE

More News in this Category