Simon Smith, Canetis Chairman said: “We are delighted to be acquiring these world class products from Zenex & GSC and the opportunity to provide consumers and businesses real and significant energy saving products."
LONDON, UK (PRWEB UK) 15 June 2017
Canetis Technologies Limited (Canetis), Zenex (including Zenex Energy Limited & Zenex Technologies Limited) and The Gas Saving Company (GSC) have collectively reached agreement on terms for a transaction in which Canetis will acquire all existing Intellectual Property, Products and Patents currently owned by both Zenex and GSC. This includes the world leading GasSaver, SuperFlow and KERS (Kelvin Energy Recovery System) product lines.
Following the acquisition of these products and assets Canetis will make a significant investment in further R&D and commercialisation of the business via distribution channel partners.
Simon Smith, Canetis Chairman, said “We are delighted to be acquiring these world class products from Zenex & GSC and the opportunity to provide consumers and businesses real and significant energy saving products. We shall drive significant shareholder and customer value through focused commercialisation and effective execution, the opportunity is clear for everyone to see."
With the acquisition of Zenex & GSC products Canetis will now be able to offer fully energy efficient solutions including gas & power usage and water consumption reductions to the combi-boiler market initially across the UK and the EU.
Chris Farrell, Zenex director and founder of The Gas Savings Company said, “This is a fantastic development for both Zenex and GSC, Canetis clearly has the resources and management capability to drive our business to the next level efficiently and effectively.”
Chris has already joined the Canetis board as a director and group CTO. The transaction relating to the Canetis acquisition of Zenex & GSC assets is expected to close in the third quarter of 2017.
Formed in April 2017 the Canetis group is focused on investing and acquiring established and proven assets and products in the global market for energy efficiency technology. Based in the UK Canetis has significant backing from both investors and shareholders providing a global mandate and execution platform for its strategy.
For more information please contact:
Greg Finnigan, Director Canetis – greg(at)canetis.io
Zenex & GSC
Chris Farrell, Director Zenex & MD GSC – chris.farrell(at)gsc.design