Additional Patents Approved and Potential Funding (8079V)
19 January 2012 - 6:00PM
UK Regulatory
TIDMALR
RNS Number : 8079V
Alternative Energy Limited
18 January 2012
For immediate release 18(th) January 2012
Alternative Energy Limited
("Alternative Energy", "AEL" or the "Company")
FURTHER PATENTS APPROVED, ISSUE OF EQUITY and
POTENTIAL FUNDRAISING
Further to its previous announcements relating to the granting
of patents in respect of its technologies, and in particular its
announcement of 27th July 2010 in respect of the grant of the
European patent for its roof based energy generation system,
Alternative Energy Limited (AIM:ALR), the Singapore based provider
of clean energy solutions, is pleased to announce that has now
received confirmation of the grant of further inventions in respect
of its first and second generation patent filings. Further US
patent applications in respect of the electrical connection system
and eSlab filed as part of its second generation patent filings
have also been granted. This takes the number of patents granted to
a total of fifteen of which three are in the European Union, nine
are in Singapore and three are in the USA. A schedule of AEL's
current granted patents is set out below. These grants are subject
to normal conditions.
Alternative Energy Limited has filed a total of 197 patent
applications in 60 countries in respect of 19 inventions pertaining
to its eRoof solar and wind energy conversion systems and has filed
its first patent in respect of its energy saving LED light
technology. Alternative Energy Limited has also registered a total
of 24 trade marks in respect of its products in various countries
worldwide. The beneficial interest of the intellectual property is
held through the Company's wholly owned subsidiary Alternative
Energy Technology Pte. Ltd.
In accordance with the Acquisition agreement with Dragon Energy
Pte Ltd, AEL has issued 333,333,334 new Ordinary Shares, which will
rank pari passu with existing Ordinary Shares, in respect of the
grants which were the subject of the Agreement signed between the
Company and Dragon Energy Pte Limited on 14 May 2010. As part of
this consideration 265,756,037 Ordinary Shares have been issued to
Perfection Group Limited, the holding vehicle of Chairman
Christopher Nightingale. Christopher Nightingale, as a result of
this, is beneficially interested in 950,000,666 Ordinary Shares
representing 50.37% of the enlarged issued share capital.
Application will be made for the 333,333,334 Ordinary Shares,
which will rank pari passu with all existing ordinary shares, to be
admitted to trading on AIM and trading in such shares is expected
to commence on or around 25 January 2012.
The total number of shares in issue is now 1,885,916,264 and the
total number of Ordinary Shares held in Treasury is 1,922,966.
Trading Update
The Company is starting to sell its range of energy saving
products, in particular its eLumen range of LED lighting in various
countries around the world and is preparing tests of its eRoof and
eLive houses for several customers around the world. However, due
to delays in orders from its distributors the Company has been
reliant in 2011 on funding from the Chairman, Christopher
Nightingale, through a convertible loan facility agreed on 28
February 2011.
The Company currently requires additional working capital and is
therefore considering its options for raising additional funding to
exploit the sales opportunities in 2012 and maintain its working
capital until it achieves substantial sales and cashflow.
Accordingly, the Company is in preliminary discussions with
several investors, including the Chairman Christopher Nightingale,
with a view to raising additional funds for the Company; one option
being discussed is that these parties will act as underwriters to a
"discounted" pre-emptive issue (the "Issue") to provide additional
working capital for the forthcoming year. The Company is seeking to
finalise the terms of the issue shortly with the documentation
anticipated to be posted along with the Accounts for the year ended
31 August 2011, which are required, under the AIM Rules, to be
posted to Shareholders by the end of February 2012.
Schedule of Granted Patents
COUNTRY TITLE OF APPLICATION PUBLICATION PUBLICATION DATE OF
INVENTION NO. NO. DATE GRANT
Singapore Hydroelectric 200716830-5 152069 29-May-2009 30/Jun/2009
System
------------------- ------------ ------------------- ------------ ------------
Singapore Electrical 200716872-7 152073 29-May-2009 30/Oct/2009
Connection
System
------------------- ------------ ------------------- ------------ ------------
European Hydroelectric EP 08 008 2 048 303 15-Apr-2009 30/Dec/2009
Patent System 492.4
------------------- ------------ ------------------- ------------ ------------
Singapore Wind Energy 200716868-5 152071 29-May-2009 31/Dec/2009
Conversion
System
------------------- ------------ ------------------- ------------ ------------
USA Electrical 12/248,028 US-2009-0098775-A1 16-Apr-2009 22/Jun/2010
Connection (7,740,497)
System
------------------- ------------ ------------------- ------------ ------------
Singapore An Electrical 200806821-5 160243 29-Apr-2010 15/Jul/2010
Connection
System
------------------- ------------ ------------------- ------------ ------------
European Roof Based EP 08 008 2 048 452 15-Apr-2009 27/Oct/2010
Patent Energy Conversion 488.2
System
------------------- ------------ ------------------- ------------ ------------
European Electrical EP 08 008 2 048 715 15-Apr-2009 17/Nov/2010
Patent Connection 490.8
System
------------------- ------------ ------------------- ------------ ------------
Singapore Wind Energy 200806820-7 160242 29-Apr-2010 31/Mar/2011
System
------------------- ------------ ------------------- ------------ ------------
Singapore Roof Based 200716873-5 152074 29-May-2009 31/May/2011
Energy Conversion
System
------------------- ------------ ------------------- ------------ ------------
Singapore Photovoltaic 200716871-9 152072 29-May-2009 31/May/2011
Tile Assembly
------------------- ------------ ------------------- ------------ ------------
Singapore Photovoltaic 200806822-3 160244 29-Apr-2010 30/Jun/2011
Tile
------------------- ------------ ------------------- ------------ ------------
Singapore A Base Tile 200806823-1 160245 29-Apr-2010 15/Aug/2011
------------------- ------------ ------------------- ------------ ------------
USA An Electrical 12/432,431 US-2010-0068924-A1 18-Mar-2010 30/Aug/2011
Connection
System
------------------- ------------ ------------------- ------------ ------------
USA A Base Tile 12/508,396 US-2010-0068926-A1 18-Mar-2010 11/Oct/2011
(8,033,857)
------------------- ------------ ------------------- ------------ ------------
About Alternative Energy
Alternative Energy Limited (AEL) is headquartered in Singapore.
Alternative Energy Limited has developed a number of roof based
energy generation systems and also develops and sells energy saving
products, in particular its range of LED lighting. It has recently
commenced marketing its self-sufficient range of housing, eLive, in
developing markets.
'NOW THE WORLD HAS AN ALTERNATIVE'TM'
For further information please see the Company's website:
www.alternativenergy.com.sg or please contact:
Alternative Energy Limited
Eric Goh, Director +65 9060 1355
Richard Lascelles, Director +44 (0) 20 7408 1067
Beaumont Cornish Limited
Nominated Advisor and Broker
Roland Cornish and James Biddle +44 (0) 20 7628 3396
This information is provided by RNS
The company news service from the London Stock Exchange
END
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