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| Axiomlab plc funds Energetix Group Ltd. | |
Axiomlab plc, the regional provider of capital and business building expertise, and Energetic Communications Ltd today announce a new partnership and the formation of Energetix Group Ltd. Axiomlab has invested £625,000 for 40.23% of Energetix and committed management resources into the Group. Energetic Communications Ltd has transferred its entire business operations and resources into Energetix. Background to Energetix The principal focus of the Group is in new energy technologies, in particular distributed, renewable and energy efficiency technologies, for example energy generation and storage products such as fuel cells, micro-turbines, photo-voltaic cells and fly wheels. Energetix’s business is to identify and develop these early stage energy related technologies and, in partnership with Axiomlab, provide infrastructure, management, and technical resources. To identify sources of intellectual property Energetix has developed a network of relationships with major industrial partners and academic institutions, in particular with EA Technology Limited, Manchester Innovation Ltd (a wholly owned subsidiary of the Energetix’s Market Major worldwide drivers for change are creating significant demand for new technologies and products in the energy supply markets. These drivers include power shortages and blackouts caused by demand outstripping current supply, government driven environmental targets leading to tax incentives and penalties, and the opportunities and threats created from the de-regulation of the energy markets. The legislative framework for the electricity sector is undergoing major changes in most developed countries. These changes are driven by a move towards more liberalisation to create a competitive market environment. Within this competitive environment, distributed power is becoming a major threat to the paradigm of centralised power generation. The 1997 Kyoto Protocol framework requires the reduction in production of greenhouse gas emissions. The impact of this framework on world governments is substantial, for example, the For example, as one of the potential solutions to this problem, it is widely anticipated that fuel cell technologies, which allows for the production of electricity through low emission and cost efficient means, are expected to command a large proportion of the alternative fuel market, conservatively estimated as a US$320 billion market over the next 20 years (Source: Beeson Gregory, January 2001). Much of the alternative energy technology quoted activity has been in North America, with successful listed companies including Engelhard Corporation (currently capitalised at US$3.6 billion), International Fuel Cells (owned by United Technologies Corporation, valued at over $27.5 billion), and Plug Power (US$467 million). It is anticipated by equity analysts that there are likely to be several IPOs in the time period prior to the commercialisation of such technologies, and large corporations are expected to unlock the value of their alternative energy divisions during this period (Source: Beeson Gregory, January 2001). Commenting on the investment in Energetix, Fred Mendelsohn, Managing Director of Axiomlab, said: “Alternative energy is one of the most exciting areas in technology at the moment. The market for energy efficient solutions is global, and we believe that the potential of discovering and exploiting world leading patents, from the quality of the partnerships that Energetix has already created, is considerable.” Adrian Hutchings, Chief Executive of the new Energetix Group, commented: “The relationship we have developed with Axiomlab has clearly demonstrated the benefits of having an investment partner that can deliver more than just financial investment. The calibre of Axiomlab’s resources and their network of contacts will add significant value to our business”. |
