VPhase looks to British Gas deal
VPHASE, the Chester-based developer of energy saving products, could tap into British Gas’s customer base after agreeing a deal with the group.
It has signed a memorandum of understanding which may lead to a supply and distribution agreement.
In a statement the company said British Gas Services was acquiring several VPhase devices for independent testing, with a view to supplying its electrical and heating installation and maintenance markets.
VPhase said British Gas, which is part of Centrica, is the UK’s largest installer of domestic energy efficiency measures under the government’s Carbon Emissions Reduction Target (CERT) programme. It expects to spend up to £1bn on such work over the next three years.
VPhase and Centrica also plan to tackle the North American home and business services market through Direct Energy, another Centrica-owned business.
The first commercial VPhase energy saving product, the VX1, is a low-cost voltage reduction and regulation system. The Company’s tests have shown that it could reduce household electricity bills by 10%.
VPhase chief executive Lee Juby, said: “This arrangement is further endorsement for VPhase’s voltage reduction and regulation technology. Consumers are facing ever higher utility bills, so energy efficiency is becoming increasingly important. Products like the VX1 can cut bills and carbon emissions, so customers can save money whilst doing their bit for the environment”.
