Bright future for energy group

CHESHIRE alternative energy business Energetix Group said today that it is at the point of making revenue as each of subsidiaries have completed the development road map for their first products.

The AIM-listed group has won a number of contracts with blue-chip companies including a £250,000 deal to supply San Diego-based P&E Automation with its Pnu Power compressed air energy system

In the 12 months to December 31, pre-tax losses narrowed from £1.84m to £1.66m, while turnover dipped slightly from £55,000 to £32,000. It has cash reserves of £11m.

Chairman Alan Aubrey said the group’s focus for 2009 will be on generating revenues and conserving cash.

“Our strong IP position, robust engineering principles and agreements with highly regarded partners position the group well to capitalise on the opportunities that are apparent in the current environment as government investment and stimulus increases and the focus on efficiency is heightened.”