Zenergy Power Plc (LON:ZEN) , the manufacturer and developer of High Temperature Superconductor applications, with operations in Germany, the US and Australia confirmed today that it is now in a position to commence the low-cost production of its Second Generation ('2G') superconducting wire. The Group says that it has been able to achieve significant cost savings in relation to the production of 2G wire.
When scaled, the company say that this production will enable the industry's lowest-cost superconductor wire, which in turn will be cheaper than traditional copper wire and play a key role in promoting the adoption of superconductor-based generators by the renewable energy industry. According to the report, generators employing Zenergy Power's superconductor components are significantly smaller, lighter and more efficient than traditional 'copper-based' machines - reducing the overall cost of electricity produced from offshore wind turbines and run-of-river hydropower stations.
The first of these generators built using the Group's superconductor components is due to be installed by E.ON AG later this year. Going forward, the Group's focus remains The Group's commercial focus is the innovation and manufacture of clean energy superconductor solutions that are capable of delivering huge efficiency and cost improvements to the generation, distribution and consumption of electrical energy.
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