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Zenergy Power
- BY: Andrew Hore |
- POSTED: 07/01/2012 |
- COMMENTS: Add yours
Zenergy Power is pushing ahead with its plans to refocus on magnetic fault current limiter (mFCL) products.
Zenergy is not pushing ahead with its other products, such as the magnetic billet heater and it put its German subsidiary into administration. Zenergy has paid €150,000 to acquire some of its assets and intellectual property. A major corporation has acquired the 2G superconductor wire technology and Zenergy will receive a royalty on any sales of 2G wire over the next 10 years.
The 2011 figures will be published on 10 February. There was nearly £6m in the bank in October but the restructuring will lead to a cash outflow. Running costs have been cut from £12m a year to £4m a year. There should be enough working capital for 18 months.
At 5.87p a share, Zenergy is valued at £4.05m.
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