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Ultima Networks PLC (UTN)

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Tuesday 14 December, 2010

Ultima Networks PLC

Grant Award

RNS Number : 8770X
Ultima Networks PLC
14 December 2010


14 December 2010

Ultima Networks plc

("Ultima" or the "Company")

Ultima Spain SL awarded development grant of €125,100 by Valencia Energy Agency

The Board of Ultima is delighted to announce the award by "AVEN" (Agencia Valenciana de la Energia) of a grant of €125,100 towards the design and deployment of an additional 10 KW solar installation based on the latest concentrated solar cell technology. The grant recognises the important advances made by the Company's Green Power division in the application of cutting edge solar solutions. This development, using the latest 960X Concentrated Solar cells, will be an important showcase and reference site for future developments for Ultima in Spain.

As announced by the Company on 22 November 2010, Ultima's existing 100KW solar park in Spain has been successfully connected to the Spanish National grid. This solar park contributes revenue to the Green Power division based on a fixed tariff of 32 eurocents per kilowatt hour for a period of 25 years.

Professor Humayun Mughal, Chairman and CEO of Ultima, said:

 "Our Green power division continues to enhance its reputation through the deployment of a PV solution based upon concentrated solar cell technology. The division's investment into cutting edge solutions has been acknowledged by the award of a significant grant towards the cost of building a 10KW solar installation using 960X concentrated solar cells.  This installation will add to the division's growing reputation in the use of advanced solutions in the design and construction of solar parks."


Ultima Networks plc Tel: 01279 821200


Prof. Humayun Mughal, Chairman and CEO


Allenby Capital Limited (nominated adviser and broker) Tel: 0203 328 5656

Nick Naylor


Nick Athanas


Alex Price


This information is provided by RNS
The company news service from the London Stock Exchange