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Energetix Group announces acquisition

Energetix Group has acquired electricity supply company Circuit Energy Supply Limited, togther with data management software agreement

The Group, which develops and commercialises alternative and efficient energy products, announces that, as part of the process of creating a new energy supply company, it has acquired from Utiligroup Limited, part of Bglobal plc, the entire issued share capital of Circuit Energy Supply Limited.

The company has a pre-accredited electricity supply licence which will enable Energetix to trade electricity in the UK.

Circuit Energy Supply Limited has accreditation from Elexon, which accedes to the Balancing and Settlement Code, the rules that govern electricity trading.

Energetix also announces that Circuit Energy Supply Limited has signed a software licence agreement with Utilisoft Limited (a subsidiary of Utiligroup Limited), whereby Utilisoft will supply the Group with its energy data management software.

As announced on 29 February 2012 Energetix will create a new energy supply company, provisionally called Kingston Energy, which will provide free Kingston microCHP boilers to its customers in return for a commitment to purchase gas and electricity for a fixed period.

Obtaining the electricity supply licence and the installation of the software is the first step in the plan to create a successful dual fuel energy business and Energetix will seek to acquire an additional licence to supply gas.

Tony Stiff, Chief Executive Officer of Kingston Energy, said, “We are very pleased to achieve this first important milestone and we are on track for delivery of a functioning energy supply business in the fourth quarter of this year as planned.”