VPhase gears up for sales surge

VPHASE, the manufacturer of energy saving technology, said it is gearing up for a surge in demand for its products.

The Chester-based group has developed a smart voltage management system that reduces and regulates incoming voltage and can save around 10% off electricity bills.

Earlier this year it received CE Certification, a prerequisite marking for all electrical goods, for its smart voltage management system.

VPhase is targeting the UK market through partnerships with energy utilities, social housing organisations and energy efficiency companies to introduce the units into UK homes.

Today the AIM-listed company, said volume production was now underway to meet anticipated demand for the product.

However, the group’s sales and marketing push dented its figures. Pre-tax losses for the six months to June 30 increased by 16% to £412,000. Revenue of the period came in at £60,000 compared with nothing the previous year, although VPhase has cash of £2.5m.

VPhase chairman Adrian Hutchings, said: “The first six months of this year was a period of critical commercial progress for VPhase.  Significantly, the group achieved CE certification for our smart voltage management product, which has enabled commercial sales to start immediately.  The group has increased its marketing and sales efforts, strengthening our volume production capabilities, and is developing new routes to market. 

“Whilst we undertake our commercial activities, the group continues to exercise strong cash management. We anticipate the next six months to be yet another critical period of transition as VPhase commences volume sales and starts to generate further revenues.”