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Zenergy Power Signs Joint Development Agreement With Honeywell Specialty Products

Posted on: Wednesday, 1 October 2008, 09:00 CDT

SAN FRANCISCO, Oct. 1 /PRNewswire/ -- Zenergy Power plc (AIM: ZEN.L), the specialist manufacturer and developer of commercial applications for high-temperature superconductive ('HTS') materials today announced the Company has entered into a five-year joint development agreement with Honeywell Specialty Products, a global leader in high-performance speciality material production. Under the agreement, Honeywell will work with the Zenergy's Second Generation (2G) Research and Development team to develop a range of chemical precursors to be used in Zenergy's unique industrial scale 'all-chemical' manufacturing process for the volume production of 2G HTS wire.

Honeywell's decision to partner with Zenergy endorses not only the Group's 2G HTS wire production techniques but also recognizes the potential size of the global 2G wire market. To date, Zenergy has developed an innovative reel to reel 'all chemical' deposition process for the mass manufacture of 2G HTS wire. Zenergy expects the process to become the most cost effective and efficient way to manufacture 2G HTS wire. Zenergy is currently developing a number of energy efficient industrial products that will adopt the 2G wire material in its production to further enhance its commercial competitiveness. In Honeywell, Zenergy is partnering with a chemical industry leader with complementary expertise to develop superior processing methods. In addition, Zenergy secures a reliable supplier of high quality chemical precursors necessary for the predicted scale-up of 2G HTS wire production.

This joint development agreement together with an ongoing exclusive agreement with ThyssenKrupp VDM (for the industrial provision of textured nickel tape) gives Zenergy a strong research and development foundation from which to industrialize and launch its 2G HTS wire. The Group also secures an industrial supplier base for raw materials from two global leaders in their respective industries, who are demonstrating their commitment to the massive potential of this ground-breaking market.

"This agreement is another major step forward for us towards the industrialization of 2G HTS wire," said Michael Fitzgerald, Chairman of Zenergy Power. "With our two major industrial partners, Thyssen and Honeywell, we are confident we will establish the secured industrial supply chain required for the large-scale renewables generator market. This is of particular importance to the Group at this time as the first of our energy efficient products is now fully commercialized and the development of our other applications is progressing well. As we continue to achieve these technical accomplishments we are increasing the depth of our commercial engagement with a number of industrial customers and are accordingly increasingly aware of the importance of having a secure supply chain of materials for the industrial scale production of our HTS products and components. Furthermore, the commitment of resources from another established world class industrials group gives us continued confidence not only in the credibility of our unique all-chemical approach to 2G wire production, but also in the scale of the commercial opportunity that lies within the emerging HTS market."

About Zenergy Power plc

Zenergy Power plc is a global specialist manufacturer and developer of commercial applications for superconductive materials. Comprising three operating subsidiaries located in Germany, USA and Australia, Zenergy is focused on the commercialization of its energy efficient applications for energy intensive industrial processes, power distribution and renewable power generation. Zenergy achieved the world's first sale of an industrial scale HTS induction heater, which is now fully operational.

Zenergy's HTS applications enable, or aim to enable: (a) Induction Heaters to halve the amount of energy required to heat aluminum and copper billets (b) Fault Current Limiters to protect power grids from blackouts (c) Hydropower stations to significantly increase energy output by up to 15% (d) Offshore wind turbines that are in excess of 8 MW to reduce the cost of power production by up to 25% About superconductivity

Superconductive materials are capable of conducting dc 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.

Zenergy Power plc

CONTACT: Corporate, Larry Masur of Zenergy Power plc, +1-781-738-8501,Larry.Masur@ZenergyPower.com; or Press, Melissa Kahaly, +1-212-850-5709,Melissa.Kahaly@fd.com, for Zenergy Power plc

Source: PRNewswire

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