Significant Shareholder(s)

RNS Number : 7193C

Zenergy Power PLC

18 November 2009

 



Zenergy Power plc

('Zenergy Power' or the 'Company')

Significant Shareholder(s)

Zenergy Power plc (AIM:ZEN.L), the superconductor energy technology company, is pleased to announce that following recent management presentations, AEGON Asset Management UK plc ('AEGON') has acquired 4,000,000 ordinary shares in the Company. At the request of the Company's brokers, Panmure Gordon & Co, the liquidity required to facilitate AEGON's share acquisition was provided by the Company's largest shareholder, Cloverleaf Holdings Limited ('Cloverleaf'). Cloverleaf remains a long-term supporter of Zenergy Power and details of its and AEGON's holdings are below:

Shareholder	Number of ordinary shares held prior to transaction	Number of ordinary shares held following transaction	% Voting rights
AEGON Asset Management UK plc	0	4,000,000	7.66%
Cloverleaf Holdings Limited	12,579,790	8,579,790	16.42%

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Further information

Andrew Tan	Zenergy Power	+ 44 207 602 7420
Andrew Godber	Panmure Gordon & Co	+ 44 207 459 5742
Mark Longson	Square1 Consulting Limited	+ 44 207 929 5599

About Zenergy Power

Zenergy Power is a superconductor energy technology company, quoted on the AIM market of the London Stock Exchange and comprising three operating subsidiaries located in Germany, USA and Australia. The Group's commercial focus is the innovation and manufacture of clean energy superconductor solutions that are capable of delivering huge efficiency and cost improvements to the generation, distribution and consumption of electrical energy.

Today, the Group's groundbreaking superconductive solutions are already delivering energy savings to industrial users of electrical energy and providing cutting-edge protection from electrical power surges to the United States electricity grid. Looking to the near future, the Group is currently developing a range of highly energy efficient superconductor components for a new class of electricity generator capable of delivering significant cost savings to the renewable energy industry. These cost savings will enable renewable energy to more effectively compete with traditional thermal power generation; leading to a greater reduction in carbon emissions and a more sustainable economic future.  

In 2007, Zenergy Power became the first company in the world to complete a commercial sale of an industrial scale superconductor application and has subsequently developed products capable of addressing several multi-billion dollar global markets. Following this in the first quarter of 2009, the Group proudly became the first company to install and operate a superconductor smart grid device, capable of significantly reducing the damaging effects of large-scale power surges, into the United States electricity grid. In line with this leading industry position, Zenergy Power is also manufacturing core components for what is due to be the world's first superconductor electricity generator which is due for installation into E.ON AG's commercial hydro power station in early 2010.

About superconductivity

Superconductive materials are capable of conducting 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.

Superconductors enable: 

• Energy intensive industrial applications capable of reducing energy consumption by 50% 

• The protection of national power grids from blackouts

• The production of revolutionary light-weight, efficient 10MW class renewable wind generators capable of reducing the cost of offshore wind power by 25%

• The production of a new class of compact and efficient hydro generators capable of significantly increasing electrical power output from existing and new hydro dam structures.

 

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