A new 50:50 business joint venture unit is to be formed by Disenco and the Hunter Group to commercialise a micro-CHP appliance in North America.
The Hunter Group is to invest C$9 million (US$7.25 million) in Disenco, covering the manufacture and commercialisation of its appliances in North American markets. It says it sought to invest in Disenco Energy because of the massive revenue streams that a micro-CHP unit could generate in North American markets.
Called the HomePowerPlant (HPP), the patented appliance is based on Stirling engine technology. The Stirling engine uses helium as its working gas and drives a generator to produce 3 kW of mains voltage electricity. It is anticipated that the Disenco HomePowerPlant will generate, on average, up to 50% of a typical domestic users electrical needs, 60%-70% of peak load demands and all of its heat and hot water consumption.
Disenco is expected to have initial units ready to enter into field trials with one or more of its distribution partners, utilities Endesa or Centrica/British Gas, by mid-July 2009. This development will trigger a further C$3 million (US$2.4 million) investment from the Hunter Group.
Tony Caplin, chairman of Disenco, comments: 'This agreement with the Hunter Group provides Disenco Energy with a solid financial and executive platform to deploy its pioneering green energy technology and products into the lucrative North American markets.