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VPhase

  • BY: Andrew Hore |
  • POSTED: 22/03/2011 |

Voltage optimisation products developer VPhase has gained Carbon Emission Reduction Target (CERT) credits for its VX1 product.

This CERT accreditation will make it easier to sell the product to social housing organisations and other customers. There are 27 social housing groups trialling the technology.

VPhase has secured CERT accreditation at 2.5 tonnes of carbon dioxide over a 20 year measure. The tests showed a 5.3% reduction in electricity usage when the VX1 product was installed. The CERT credits are worth around £10 so that makes the accreditation worth £25.

Revenues were more than doubled from £124,000 to £266,000 in 2010, while the loss increased from £976,000 to £1.71m. There was still £2.08m in the bank, following the £2m fundraising at 2p a share last autumn. That diluted Energetix’s stake to 42.9%.

House broker Ambrian expects a sharp rise in revenues to £2.3m in 2011 but the loss is still expected to be £1.2m. The cash pile will slip below £1m on these forecasts. VPhase expects to become cash flow positive during 2012. Ambrian still expects the company to report a loss for 2012.

The plan is to develop other products based on the company’s technology. The first is a larger version of the VX1, which could take the company into offices, light commercial and retail properties. Eaga has been signed up as an installation partner for the VX1.

At 2.02p a share, down 0.23p on the day, VPhase is valued at £16.2m. 

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