A CHESHIRE-BASED developer of energy-saving technology has entered into an exclusive distribution arrangement with an Australian company which could be worth up to £12.4m..VPhase, based in Capenhurst, has developed a device which can lower voltages used in homes and business, educing the energy consumption of many electrical appliances.The money and carbon-saving device will now be installed in homes in Australia after VPhase subsidiary, VPhase Smart Energy, struck a exclusive deal with Energy Home Solutions (EHS).Under the contract, which initially lasts for five years, EHS has agreed to purchase a minimum quantity of the VX1 product in each year of the agreement. It anticipates achieving minimum volumes to a value of £12.4m over that time. The volumes are not spread evenly but scale up over the term of the deal.The first order for 500 VPhase units has been placed and they be taken over the next six months after which growth is anticipated to meet the minimum volumes as the market develops.VPhase chief executive, Rick Smith, said: “This establishes an excellent way for us to access the Australian market and to build on the strong sales growth we are seeing in the UK.”The company claims its device can cut energy bills by up to 12%.Read
