Development Grant for 2G wires, Zenergy Power
Release Date: 2009-08-05
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 lowcost 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 efficiency 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 significant economic and environmental benefi ts that can be realised by the availability of Zenergy Power’s low-cost superconductor wires.
Superconductivity and Renewable Energy Generation
As widely documented, Zenergy Power is currently working with its collaborative partner, Converteam SAS (‘Converteam’), on the development and manufacture of the world’s first superconducting electricity generator. The ground-breaking machine, which is due for installation into E.On AG’s commercial hydro-dam in January 2010 will, for the fi rst time, adopt high-effi ciency superconducting components at the core of its design to significantly increase the amount of electricity that can be produced from E.On’s dam located in Bavaria, Germany. Further
to this, Zenergy Power and Converteam are also using the incredible electrical properties of superconductors to produce a light-weight 10MW direct-drive wind generator specifi cally for the offshore market. It is anticipated that the weight savings achieved through the use of superconductors could lead to a 25% reduction in the overall cost of offshore wind energy.
The development program for the superconductor generators continues to progress well, and accordingly the Group remains confident of its ability to capture the substantial commercial opportunities that exist within the growing renewable energy generation markets. In support of this, ongoing discussions with a number of industry participants continue to support management’s view of economic attraction of superconductor generators which
are capable of overcoming the industry’s persistent problems with effi ciency, weight, size and reliability. It is in relation to the positive outlook for the Group’s renewable energy activities that the Board duly notes the
importance of this latest grant and the overall development of the Group’s ‘2G’ low-cost superconducting wires. As previously announced, it is the intention of the Zenergy Power to use its proprietary low-cost 2G wires in the mass manufacture of renewable energy generators to ensure that the superconducting machines are not only the most technically superior solution on the market but also the most cost effective.
| Type: | NORMAL |
| Company: | Zenergy Power |
| Country: | Germany |