Tersus
Energy Plc
3 May 2006
Tersus Energy PLC to Acquire Energy Management
Software Business
Tersus Energy PLC, the AiM-listed
clean energy company, ('the Company' or Tersus Energy')
announced today it has entered into an agreement to
acquire Envinta, Inc., ('Envinta'), the US-based subsidiary
of Energetics Pty. Ltd. of Australia.
Envinta develops, sells and implements
information systems and solutions supporting energy
efficiency, demand response, and energy, environment
and water management to large commercial, industrial,
institutional, utility and government clients throughout
North America and Europe.
These systems and solutions can be
used by large organizations to adopt and implement strategic,
enterprise-wide energy and greenhouse gas management
programs.
Through its ENTERPRIZE.EM(TM) system,
EnVINTA is managing over US$2 billion of clients’
energy spending.
The acquisition price is US$2.1 million,
which will be satisfied as to US$1.5 million in cash
payable from existing resources and $US0.6 million to
be satisfied via the issue of 785,079 ordinary shares
of Tersus Energy at £0.44 per share. The shares
are subject to a 6 month lock-up period followed by
a 6 month orderly market agreement.
Envinta reported audited profits before
tax for the year ended March 2005 of US$368k and net
assets of $344k. The acquisition is expected to be earnings
enhancing to Tersus Energy for the 2006 financial period.
The Board considers Envinta an excellent
opportunity.
It believes demand for energy efficiency
and energy and environment information management tools
will grow significantly as energy prices continue to
rise and as organisations increase greenhouse gas and
carbon management focus.
The Board is confident that Envinta’s
solid customer base, combined with its proven and proprietary
offerings will enable it to continue to grow profitably.
Tersus Energy will provide additional
value by using its skills and experience to assist Envinta
with gaining new market opportunities in North America
and in Europe, improving its business operations, developing
new products and services, and successfully pursuing
growth strategies.
Steven Levine, Chief Executive
Officer, stated:
'The acquisition of Envinta is consistent
with the strategy of Tersus Energy Controls, one of
our three businesses, of investing into proven energy
technology companies with earnings and strong growth
potential. We are delighted to complete the acquisition
having explained the Envinta opportunity to the market
in December, when we raised further funds.
The Envinta acquisition provides Tersus
Energy Controls with a platform from which to expand
into the areas of energy efficiency, energy information
management, and environmental resource management. The
acquisition also means Tersus Energy Controls has now
secured its platform investments in both stationary
energy management (Envinta) and mobile energy controls
(Navitas) in accordance with our stated strategy.’
The company continues to make progress
in relation to its investment and operating program.
An announcement, including results for the year to December
2005, is expected shortly.
Application has today been made for
the 785,079 ordinary shares of £0.44p each to
be admitted to trading on AIM, such admission expected
8th May 2006.
Enquiries:
Tersus Energy PLC
Steven P. Levine
Chief Executive Officer
Tel: +1 978 635 0997
Mob: +1 617 449 8908
slevine@tersusenergy.com
www.tersusenergy.com
M Communications
Nick Fox/Harriet Totty
Tel: +44 207 153 1540
Mob: +44 7711 727 618
Notes to Editors
About Tersus Energy Plc
(www.tersusenergy.com)
Tersus Energy, which floated on AIM
in February 2005, is building three operating businesses
focused upon what it believes are the most attractive
and significant areas of the renewable and alternative
energy sector: Tersus Asian Renewables, Tersus BioEnergy
and Tersus Energy Controls:
- Tersus Asian Renewables
(TAR). Formed to exploit the demand for renewable
energy in Asia, TAR is focusing on wind, biomass and
clean coal, principally in China and India. It is
acquiring interests in businesses well placed to benefit
from growth in Asian renewable generation and developing,
investing into and operating a portfolio of renewable
energy assets with chosen joint venture partners.
- Tersus BioEnergy
(TBE). Formed to exploit the accelerating demand for
alternative fuel based supplies of energy, TBE is
focusing on biofuels (bioethanol and biodiesel) and
electricity produced from forest, agricultural, municipal
and industrial waste. It is developing, investing
into and operating a portfolio of bioenergy assets
with chosen joint venture partners.
- Tersus Energy Controls
(TEC). Formed to exploit the opportunity presented
by the increasing focus on energy efficiency and management
of electricity consumption, TEC is focused upon efficiency
applications for mobile (eg. hybrid and electric vehicles,
automatic guided vehicles, fork lift trucks) and stationary
(eg. building controls, energy management information)
end users. TEC intends to develop these opportunities
through continuing organic growth and acquisition.
Tersus Energy also maintains a strategic
and financial advisory service business, primarily targeting
established and emerging energy companies based principally
in Europe and North America.
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