Aug 6 2009
Zenergy Power (AIM:ZEN.L), the superconductor energy technology company, is pleased to announce that it´s German subsidiary, has received further government funding for its work on the development of patented low cost production techniques for the mass-manufacture of 2nd Generation ('2G') superconducting wires. The Group's unique 'all-chemical' production approach is set to signifi cantly reduce the cost of superconductor wires and facilitate the Group's intention of supplying high effi ciency superconducting generators to the global renewable energy market.
It is anticipated that the use of superconductor applications could dramatically reduce the cost of producing renewable energy and in recognition of this the German government has agreed to fund a €400,000 development project named 'Keramet'. The project has been granted by the Federal Ministry of Economy and Technology and approved by the German Parliament and makes available to Zenergy Power's in-house engineers the additional renowned materials expertise of THEVA Dünnschichttechnik GmbH ('THEVA').
Together, Zenergy Power and THEVA will use the funding to develop advanced layering techniques to support and accelerate Zenergy Power's ongoing 2G development program. Zenergy Power has secured a variety of third party support for its ground-breaking development work which has to date included; direct funding from the European Union and the U.S Department of Energy; co-operative development contributions from the world-renowned, U.S. Government backed, Sandia National Laboratories; and - most importantly - the establishment of long-term cooperation agreements with major industrial entities including ThyssenKrupp VDM and Honeywell. This latest round of fi nancial support from the German Government is also considered by the Board to lend further validation to signifi cant economic and environmental benefi ts that can be realised by the availability of Zenergy Power's low-cost superconductor wires.
Jens Mueller, Chief Executive Offi cer, commented:
''The commercial opportunities that exist for the Group's ground-breaking renewable energy generators are substantial and growing. In order to capture these opportunities we must deliver to the market not only the superior electrical performance that comes from using superconductors but also most economically viable products. The development work we have been doing on low-cost production techniques for 2G wires is key to this and I would like to thank both the German Federal Ministry of Economy and Technology and THEVA for their support of our development activities.'