17th July 2008

Last month EnergyMixx AG bought the remaining 70% stake in HelioDynamics from its management and other shareholders in return for shares in EnergyMixx worth £ 2.27 million, to be paid in tranches against an agreed set of milestones. HelioDynamics has world class capabilities in the field of concentrating solar energy technology. These are applied to concentrating solar process heat systems, concentrated solar photovoltaic systems and concentrated solar combined heat and power systems. HelioDynamics has an important development of a gallium arsenide (GaAs) concentrated photovoltaic technology which has the potential to cut the total installed cost of photovoltaics by up to 50% on a cost/kWh basis, (against a 2007 base line) and to provide solar systems without the current dependence on silicon

Graham Ford, CEO of HelioDynamics said: “HelioDynamics’ integration into the EnergyMixx Group will bring added value to its substantial portfolio of solar concessions in Italy, as well as additional revenues to the group through the pipeline of orders and leads generated by HelioDynamics. We are pleased to integrate the group as we have three principle ways to contribute to increasing EnergyMixx value, applying our technology to their solar parks: i) tracking of flat plate PV collectors for maximum solar energy production, ii) high reliability, high efficiency and low cost inversion of the electrical power and iii) concentrated PV power production.“

Building on HelioDynamics’s unique and proprietary concentrator platform technology, EnergyMixx will boost the ongoing engineering based on a new receiver that incorporates gallium arsenide cells, which have an efficiency range of 27% - 36%, around double the efficiency of silicon PV cells.

EnergyMixx, which has acquired a portfolio of concessions of over 550MW of renewable energy, will leverage HelioDynamics’s integration to boost its competitive position into the solar power generation area. This very effective technology will be deployed firstly to EnergyMixx’s strategically important Italian market where the Group has a number of concessions totalling more than 100 MW in the solar power production sector. Over the next two years, EnergyMixx is anticipating installing around 50 MW of capacity with HelioDynamics solar concentrating systems.

Artur Dela, EnergyMixx Chairman, said: “With the completion of this transaction we have secured an additional piece to our very innovative technology portfolio that will boost our integrated business model and create long-term value. We believe that the future for HelioDynamics and its solar technology will be bright.”

Use to send this story to a colleague or to add it to your social web.