Zenergy ready to sell after successful prototype

18th Oct 2011 12:27

Superconductor energy technology company Zenergy has reported the successful testing of a half-scale prototype of its non-superconducting magnetic fault current limiter (MFCL). Following the trial, the company will take steps to secure sales orders and begin commercial production of the MFCL in voltage classes ranging from 4 kilovolt (kv) to 154kv. Overall operating costs are now running at about £4m per year, significantly down from £12m previously. Executive chairman Simon Cleaver said: "While it's always possible that we could still encounter issues when scaling up or manufacturing the new MFCLs, these tests prove that the design and technology works and we are now in discussions with potential customers and manufacturing partners."The restructuring of the group to focus on our MFCL operations was both challenging and painful, but Zenergy is now leaner and more focused and, as a result, I believe that we are on a far sounder financial footing. We still have a great deal of work to do to bring these products to market, but independent research reports confirm that we are potentially addressing a very large MFCL marketplace."The company earned £0.5m of cash net costs after successfully testing an 11kv version of the product last year. The share price more than doubled on the news, rising 60.41% to 7.9p by 12:41. NR