E.ON funding research with €60 million

  • International energy research initiative started
  • Focus 2007: Energy storage

From today energy experts from around the world can turn to E.ON to apply for funding for their energy research projects. The company has earmarked €60 million over the coming ten years for an international research initiative. Disciplines covered are going to be changing with a competition being held every year. This year’s budget of €6 million is being tendered in a competition dedicated to “Energy storage”. Mount-ing use of renewable energy is going to increase the significance of this technology. Especially offshore wind farms, which E.ON is actively promoting, deliver electricity when there is plenty of wind, without this necessarily being the time when electricity is in demand. A key ques-tion on the path to enhancing the share of renewable energy in overall energy supply is therefore short-term and seasonal storage.

Funding is granted to teams and researchers at universities and research institutes. E.ON is funding research into new, innovative solutions in projects which are scheduled to last for several years. E.ON is dedicated to supporting international energy research to find answers to pivotal questions in energy technology. In its efforts E.ON is not laying any claim to the insights gained as they remain the property of researchers and are to be published and made accessible to the public.

Please visit www.eon.com/research_initiative to find a detailed description of project topics and information about project funding.

This press release may contain forward-looking statements based on current assumptions and forecasts made by E.ON Group management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those dis-cussed in our public reports filed with the Frankfurt Stock Exchange and with the U.S. Securities and Exchange Commission (including our Annual Report on Form 20-F, in particular to the discussion included in the sections entitled "Item 3. Key Information: Risk Factors", "Item 5. Operating and Financial Review and Prospects", "Item 11. Quantitative and Qualitative Disclosures about Market Risk"). The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.