Disenco Energy plc has now completed all major milestones as set out prior to the Company’s listing on the TSX Venture Exchange in Canada in February
London, England, 22 May 2007. Disenco Energy plc (“Disenco Energy” or “the Company”) [TSX: DIS.V], the UK based developer of a revolutionary home power generating unit known as the Disenco HomePowerPlant, is pleased to announce that it has now completed all major milestones as set out prior to the Company’s listing on the TSX Venture Exchange in Canada in February. These include:
- Assessment of Initial Field Trial Data Jan 2007
- Core Engine Build Program Jan2007
- Production of Final Field Trial Units Feb 2007
- Final Gas Appliance Directive Approval (“GAD”) for Field Trial Units Mar 2007
- Engineering and design of commercial m-CHP Unit (Phase One) Mar 2007
As such Disenco Energy has commenced the second phase of its commercialization programme (“Phase Two”), the process by which it plans to develop the initial production intent models of the HomePowerPlant, advancing its programme ahead of expectations. Phase Two of the commercialization programme is now well underway with the support of its engineering partners Prodrive, the specialist engine developer, and Enertek, the gas combustion systems specialist. Phase Two completes the re-engineering of the appliance for production and will deliver initial production units for domestic use in households and small businesses.
An IPO completed on the TSX Venture Exchange in February 2007 for C$2.75m (£1.22m) has enabled the Company to reduce its time to market and complete the significant milestones as detailed above. The directors are also pleased to announce the appointment of Strand Partners Ltd, corporate finance specialists in London, to work in parallel to the Company’s North American advisors in seeking further investment capital to take Disenco Energy through its final commercialization stage.
Chief Executive, Simon Ambler, commented,
“Disenco has made tremendous advances since achieving initial European GAD approval last summer. We have successfully completed our recent major milestones; our field trials with The Carbon Trust are performing to expectation; we have joined forces with Prodrive and Enertek to further enhance our appliance; attracted new investors and floated on the TSX Venture Exchange. The Company has now entered the final stage of its product commercialization process and with the support of its talented engineers, partners, suppliers, and corporate advisors expects a product roll out in the second quarter of 2008.
We are hugely excited about delivering our HomePowerPlant to the public, giving them attractive cost savings and a cleaner solution for power and heat, whilst assisting them in the possibility of achieving a carbon neutral home and reducing their carbon footprint.”
About Disenco:
Disenco Energy, based in Sheffield, England, is developing a revolutionary HomePowerPlant, a direct replacement for a domestic boiler, that converts waste heat into electricity for use in the home. Disenco’s HomePowerPlant is a micro Combined Heat and Power unit (“m-CHP”). Disenco’s m-CHP generates heat and electricity at efficiency levels of over 90 per cent., reduces consumer costs and could create independence from the National Grid. The system generates 15kW heat and 3kW electrical power and is expected to reduce the average home’s annual carbon emissions by between two to six tonnes.
Disenco Energy has achieved GAD approval for its initial appliances and is running field trials with The Carbon Trust and other selected partners. The Company is actively marketing the technology to potential partners and customers in the UK. Disenco recently listed on the TSX Venture Exchange in Toronto, Canada.
Enquiries:
Brian Longpre, Corporate & IR Director
Disenco Energy plc
Tel. +44 (0)114 261 5180
Ben Simons/Adam Reynolds
Hansard Group
Tel. +44 (0)20 7245 1100
