Cenergie acquires ZeTek Power
Cenergie Corporation Plc. is pleased to announce that it has moved its corporate headquarters from the United States to the Republic of Ireland.
Cenergie Corporation with subsidiaries and affiliates in Norway, the UK, USA, France and Korea, is a manufacturer of alkaline fuel cells for predominantly stationary and marine applications.
On November 18th Cenergie signed a Strategic Collaboration agreement with Hydro (Norsk Hydro) a Norwegian based worldwide industrial partner in the Energy and Chemical Industries to build its product development facilities in Hydro’s industrial site in Porsgrunn, Norway. Cenergie is currently completing a fuel cell production line in Porsgrunn in collaboration with Hydro, and expects to start building a second facility shortly.
Cenergie and KTH, the Royal Institute of Technology, a leading Swedish University, have agreed to collaborate in commercializing the Institutes’ non noble metal catalyst, a key to low cost fuel cells. The collaboration will develop up-scaling methodologies.
The company has just been awarded a contract to supply more than 200 megawatts of fuel cells over the next ten years to First Element a renewable power company based in Kansas City in the United States. The agreement sees deliveries starting in the first quarter of 2005.
The company has taken delivery of a fuel cell production line in the Republic of Korea and is completing negotiations to complete the purchase of a large industrial site in the south of the country.
The city of Fitzgerald, Georgia is supporting Cenergie in establishing component manufacturing there. The City has made facilities available to Cenergie through its business development department. An announcement detailing the agreement is imminent.
Cenergie is planning large-scale introduction of its fuel cells in stationary applications to supply large property developments especially in Urban Regeneration areas. It is developing systems for waste to energy applications to install in major cities benefiting from de-regulated utilities. Two areas currently in planning are the Thames Gateway in London and the San Diego-Los Angeles corridor in California. London is the first such development and Cenergie is working closely with the local and regional Government along with collaborating companies and financial institutions to meet the development plans for 2006. The company is also working with communities in Scandinavia to develop integrated renewable and sustainable systems to deliver energy through fuel cell technology competitive to traditional power prices.
To support these activities the company has just completed the building of a Proof of Technology facility at CEME in Dagenham, Essex, near London. This facility will build and test systems from small scale stand-alone to large scale networking systems. It is planned to grow this facility into a substantial commercial center.
Cenergie recently acquired ZeTek Power Plc and its subsidiaries in a deal with Da Capo Fuel Cells. ZeTek was Europe’s largest fuel cell company until 9/11 shattered its fundraising activities, leading it into administration. Investors in ZeTek Power Plc., have received discretionary shares in Cenergie as an ethical gesture to reduce the losses suffered following the administration and closing of ZeTek Power.
For further information and the background story, contact Lena Malmberg at lena.malmberg@cenergie.net or on tel: +46705203003.
jean@fuelcellpower.co.uk
+44 1359 245 073
www.fuelcellpower.co.uk