Cinpart confirms Scottish and Southern Energy deal for VoltageMaster device

Cinpart (AIM: CINP) said its 72.2 percent held subsidiary Active Energy has signed a Memorandum of Understanding (MoU) with Scottish and Southern Energy (LSE: SSE) in relation to its VoltageMaster product.

Cinpart announced two weeks ago it was in talks regarding the device with a "blue chip energy provider."

The MoU makes the VoltageMaster the preferred voltage optimisation device for the commercial clients of SSE’s contracting unit. The memorandum details the commercial terms for the marketing, sale and installation of Active Energy's VoltageMaster by SSE.

The MOU with Southern Electric Contracting (SEC) also agrees that SEC will become Active Energy's preferred installation sub-contractor. SEC is one of the largest mechanical and electrical contractors in the UK, operating from 63 regional offices.

"We are delighted that Active Energy has signed the MoU with SEC as it will provide a significantly enhanced sales network, helping Active Energy to reach its target market”, Cinpart Director, Christopher Foster commented, “VoltageMaster assists businesses in meeting the targets laid down by the Government concerning better energy management and reduction of emissions whilst also reducing their energy bills,”

The VoltageMaster is a transformer based power optimiser which attaches to an incoming electricity supply. The product reduces the incoming voltage into a building to 220 volts, lowering the amount of kWh consumed and in-turn reduces both energy costs and carbon emissions through improved efficiency. According to Cinpart, the VoltageMaster reduces energy consumption and subsequently provide average cost and associated carbon emission reductions of 13% per cent per annum.   http://www.proactiveinvestors.co.uk/companies/news/12786/cinpart-confirms-scottish-and-southern-energy-deal-for-voltagemaster-device-12786.html