December 15, 2008 / 7:39 AM / 11 years ago

UPDATE 2-Energetix Group furthers E.ON deal

* Plans to move to mass-producing product for Europe

* Deal covers company’s electricity-generating boilers

* Includes collaboration with a major appliance maker

* Shares rise 5.7 percent (Adds analyst reaction, share price)

LONDON, Dec 15 (Reuters) - Sustainable energy specialist Energetix Group EGX.L has announced a collaboration deal with E.ON (EONGn.DE) to manufacture electricity generating boilers for the European market.

The company said on Monday that an undisclosed major appliance manufacturer was also on board.

The deal sent shares rising, and by 1121 GMT they were up 5.7 percent to 48 pence.

“I think people have not really been on top of the level of discussions that have been going on with Energetix and E.ON and the supplier,” said analyst Steve Fawkes at Matrix Corporate Capital, who has the company on a “buy” recommendation.

The new deal extends an agreement between Energetix and E.ON under which the units, known as micro-combined heat and power (CHP) appliances, were developed for UK homes.

A Genlec-enabled micro-CHP boiler can meet all of the heating and hot-water needs of a household while generating electricity, enabling significant reductions in both energy bills and carbon emissions, the company said in a statement.

“I think the micro combined heat and power ... is a technology that has been long-awaited and had a few false dawns but ... I think now the time has come where its going to take off in the next couple of years,” Fawkes said. (Reporting by Ben Deighton; Editing by Mark Potter and Andrew Macdonald)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below