Zenergy signs development deal with Honeywell

A subsidiary of London-based Zenergy Power (AIM:ZEN) said today it signed a five-year joint development agreement with Morris Township, N.J.-based Honeywell International (NYSE:HON).

The German subsidiary, Zenergy Power GmbH, plans to work with Honeywell to develop chemical manufacturing processes to allow production of Zenergy's 2G high temperature superconductive (HTS) wire to ramp up. Zenergy already has an exclusive agreement with ThyssenKrupp (FRA:TKA) to work on supplying industrial-grade textured nickel tape for their superconductive wire.

"This agreement is another major step forward for us towards the industrialization of 2G HTS wire," said Michael Fitzgerald, Zenergy Power's chairman, in a news release. The partnerships are expected to help Zenergy establish the industrial supply chain needed for the large-scale renewables generator market, he said.

In March, Zenergy's high-temperature superconductive materials were contracted for U.S. Department of Homeland Security's Project Hydra to protect the nation's power grid (see Zenergy gets contract for project Hydra power grid study).

The superconductor wire was shipped by Devens, Mass.-based American Superconductor (Nasdaq:AMSC) to New  York to begin testing its use (see AMSC ships superconductor wire for Project Hydra).

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