GREEN technology company Energetix could spin out another of its businesses into a standalone listed company.
The Capenhurst company, itself listed on the Alternative Investment Market (AIM), has already spun out VPhase to take its energy-saving devices to market.
Now Energetix is considering splitting its Pnu Power arm into another AIM-listed business.
Energetix designs energy-saving technologies and takes them to stage where they are ready for mass production.
VPhase has created a device designed to help householders save money by regulating the voltage of the electricity supply that goes into their homes.
It was spun out in 2007 and is now working closely with social housing companies and utilities companies as it bids to take the product to the mass market.
Pnu Power has developed technology that uses compressed air-powered turbines to protect electrical installations from power cuts.
It has trial units working in National Grid substations around the country, including one in Capenhurst, and Energetix operations director Neil Bright is confident that will lead to more deals.
He told LDP Business that splitting off Pnu Power into a separate listed company was “a distinct possibility”, adding: “We might follow the Energetic model à la VPhase, where we get a whole new team in.”
Energetix chief executive Adrian Hutchings said: “At Energetix, we start at concept and take it to the trial stage.
“If you look at VPhase with chairman Vanda Murray and the team, with the sales and TV advertising campaigns they now have, that’s a different skillset.
“We can put those sort of people in at Pnu Power and create the value for the platform we’ve put together.
“ It’s worked with VPhase – it’s yielded a great asset. Pnu Power has got to a similar stage. It’s going to be completing its trial phase this year.
“We’re currently recruiting for senior leadership sales and marketing people for Pnu Power. I would like to see that transition into value sales over the next 12 to 18 months.”
In its annual results for 2010, issued yesterday, Energetix saw losses from continuing operations before tax widen from £3m to £3.5m thanks to a fall in sales and a write-off in the value of its assets.
The company remains loss-making as its products are in the development stage.
Chairman Alan Aubrey hailed the success of Pnu Power and the group’s other technology, Genlec. Energetix produces boilers, using Genlec technology, that generate power for the home while they work.
VPhase issued its annual results yesterday, showing sales rose to £217,000 from £53,000 in 2009. Losses before tax widened from £981,000 to £1.7m, in line with expectations, thanks to increased sales and marketing spend.
Ms Murray, who joined VPhase in July, said: “We are still burning cash. But as a business we now have product sales coming through to offset that. If all goes well we will continue to grow.”
