28 Jan 2009 07:00
| Press Release | 28 January 2009 |
VPhase plc
('VPhase' or 'the Company')
Ofgem approves Scottish and Southern Energy trials
of the VPhase VX1 product
VPhase plc (AIM:VPHA), a leading developer of energy saving products for residential and commercial properties, is pleased to report that as part of its existing partnership with Scottish and Southern Energy, announced on 16 September 2008, it has now achieved Ofgem approval for trialling of the VPhase VX1 product under the UK Government's Carbon Emissions Reduction Target (CERT) scheme. The trial will be undertaken as a formal CERT Demonstration Action. The VX1 will be installed in a number of Scottish and Southern Energy customer homes to measure the reduction in electricity used as a result of VPhase's innovative and patented voltage reduction technology. The total cost of the trial is in excess of £200,000 and is predominantly funded by Scottish and Southern Energy plc. The results will indicate the level of lifetime Carbon Dioxide savings that can be claimed by the utility companies through the CERT scheme from the sale of the VPhase VX1 product.
The CERT scheme came into force on the 1 April 2008 and will run until 2011. The programme sets an obligation on energy suppliers with 50,000 or more domestic customers to reduce carbon dioxide emissions, by promoting energy efficiency and other carbon reduction technologies to domestic energy users.
The Government has set a CERT target of 154 million tonnes (lifetime) of CO2. The Government estimates that the new obligation will stimulate around £2.8 billion investment by energy suppliers in carbon reduction measures.
In September 2008 the Government announced plans for legislation to require energy companies and generators to provide an additional £910 million towards the National Home Energy Saving Programme. It is expected that £560 million of this additional funding will be added to the existing CERT scheme - this equates to a 20% increase in the CERT target placed on obligated suppliers.
Lee Juby, CEO of VPhase, says: "I am delighted that the letter of intent signed between our two companies in September has resulted in a field trial agreement with funding in excess of £200,000. It is expected that the VX1 product will make a significant contribution both to UK carbon reduction and the carbon targets of utility companies, whilst bringing significant savings to UK domestic energy consumers."
Paul Wilkins, Energy Efficiency Team Leader for SSE, commented: "This project is another example of the many ways that we are trying to help our customers reduce their energy bills. We are looking forward to confirming the energy and carbon saving capability of the VPhase VX1 device and subsequently making the product available to SSE customers."
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For further information:
| VPhase plc | |
| Dr Lee Juby, Chief Executive Officer | Tel: +44 (0) 151 348 2139 |
| Richard Smith, Chief Financial Officer | +44 (0) 151 348 2116 |
| www.vphase.com |
| Novum Securities Limited | +44 (0) 20 7562 4700 |
| Henry Turcan | +44 (0) 20 7562 4713 |
| www.novumsecurities.com |
| Zimmerman Adams | +44 (0) 207 060 1760 |
| Graeme Thom | |
| Charity Walmsley | www.zimmint.com |
Media enquiries (VPhase plc):
| Abchurch Communications Limited | +44 (0) 20 7398 7700 |
| Justin Heath | +44 (0) 20 7398 7781 |
| Monique Tsang | +44 (0) 20 7398 7712 |
| monique.tsang@abchurch-group.com | www.abchurch-group.com |
About VPhase plc
VPhase plc is a developer of a voltage control product that reduces the energy consumption of many domestic electrical appliances.
The Company has developed a product designed to be attached to the consumer unit (fuse box) in order to control the incoming voltage for selected circuits to a target set point of 220 volts. This is slightly higher than the minimum design point for electrical items in Europe, thereby ensuring that electrical appliances in the home operate closer to the voltage condition for which they were designed.
Tests by VPhase have demonstrated that the product can save on average 10% of the electricity across a range of domestic products including fridges, freezers, central heating pumps, televisions and other items, even 'energy-saving' lightbulbs. This should equate to savings for the homeowner of £50 per annum, or potentially even greater as energy costs continue to increase.
In addition, there is evidence that the life of electrical appliances can be extended by the use of this product; light bulbs, in particular, have demonstrated at least two times longer life when on a circuit managed by the voltage control product as compared to those without the voltage control product.
VPhase is a subsidiary of Energetix Group plc and was admitted to AIM in September 2007. It is based near Chester, NW England.