ELECTRICITY

Energy "miracle" to go commercial

Tuesday 9 March 2010, 9:55AM
By Seeking Publicity
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CHRISTCHURCH

A New Zealand company that has developed an energy “miracle” to solve the world’s climate change problems is seeking investors to commercialise the product.
 

Christchurch-based IndraNet Technologies (IndraNet) is seeking six million dollars from investors to commercialise its revolutionary nGen Systems that will see businesses and individuals reach 100 percent solar sustainability at costs lower than current electricity prices without government subsidies, carbon taxes or tradable carbon credits.
 

Founded in 1998, IndraNet has had the support of about 3100 shareholders who have invested NZ$18.8 million for product development.
 

“This has been spent wisely by allowing us to create a technology package that we find breath-taking. In our view, it can address squarely the world’s problems of diminishing oil reserves and climate change. We see the potential as limitless” says IndraNet Chairman, Russell Fitts.
 

nGen Systems aim to deliver on their premises the energy streams that customers require, including electricity, process heat, hot water, air conditioning, chilling, freezing, recycling waste heat, and grey water, with energy storage as an option where required. nGen Systems are intended to be deployed stand-alone or integrated to power grids to form highly distributed Intelligent Power Networks in the longer run.
 

“We are confident to deliver Sustainable Energy Services, based on our nGen Systems that will be competitive with fossil fuel based legacy energy services and at costs that will be a lot lower than electricity generated with other renewable energy technologies.” says Mr Fitts.
 

“Applications include industrial site, commercial centres, hospitals, schools, "green" sustainable buildings, residential homes, and eventually transport (by retrofitting compact nGen Systems to existing vehicles),” says Mr Fitts.
 

“We do not do miracles”, says Managing Director, Dr Louis Arnoux. “We simply do rigorous science, solid engineering and robust market intelligence. It has been hard work over the last 11 years, often in precarious conditions. However, we now have a solution that delivers on what Bill Gates and increasingly many others call for in the wake of the failed Copenhagen Climate Change Summit,” Dr Arnoux says.
 

Bill Gates believes the most important innovation required to avoid climate change will be a way of producing electricity that is cheaper than coal and that emits no greenhouse gases.
 

"What we're going to have to do at a global scale is create a new system... So we need energy miracles,” Mr Gates says.
 

“We now have that miracle Mr Gates talks about and it’s a kiwi company that’s developed it. It’s an exciting time for our company,” Dr Arnoux concludes.
 

Interested investors can find the Offer Documents (Prospectus and Investment Statement) at www.indranet.co.nz, applications for shares can be made on the form contained in that document.
 

ENDS

For more information please visit www.indranet.co.nz.
Russell Fitts, Chairman, +64 3 365 6485, Mobile: 021 310 409 email: russell@indranet.co.nz