Cetus signs deal with AGL

Our client Cetus Energy has recently signed a deal with one of Australia's leading energy companies, AGL. We have been working closely with the founding team at Cetus for the past 15 months assisting them with both their corporate and commercialisation strategies. Pleasingly, over that time, the business has made some giant leaps forward. The summary below and the attached media release reflects just a small part of this exciting work. Cetus Energy has recently signed an agreement with AGL, Australia’s largest privately owned Energy Company, to scope out a demonstration project in their Victorian Hydro electric operation. The project represents an important move forward for Cetus Energy, and is a further step toward commercialising the patented Cetus blade technology. From the attached media release you will see that AGL shares the Cetus enthusiasm. Over the coming months Cetus will be completing the scoping project and moving forward to the Demonstration project. The objective is to clearly demonstrate that Cetus can significantly increase the capacity of an existing Hydro facility. Securing AGL, which has a significant number of hydro assets in both Australia and New Zealand, as their partner in this development phase is an important milestone and validates that the Cetus proposition resonates strongly with the target market – the owners and operators of large-scale hydroelectric facilities, worldwide. A successful outcome will open up the multibillion-dollar Hydro electricity market, which currently accounts for over 16% of global electricity generation. The ability of Cetus to optimise this by even a percentage point would make a significant impression on the renewable energy sector and also establish the Cetus Omni-directional blade as a significant Benchmark Technology in Renewable Energy. The R&D on both the Cetus River Turbine and the Wave and Tidal turbine systems also continues to rapidly progress. Cetus are approaching some exciting milestones with all of these projects and hope to announce another Demonstration project within the next six months. Cetus has now reached a significant milestone in its development. In order to support the current increasing pace of development Cetus will also be undertaking capital raising through private placement to ensure the business has additional working capital to fund this exciting growth phase. As we continue to work closely with Cetus, we look forward being able to share further exciting news with you shortly.