UPDATE ON PLURION

RNS Number:5700N
Applied Intellectual Capital plc
08 February 2008

8 February 2008

APPLIED INTELLECTUAL CAPITAL

UPDATE ON PLURION

Applied Intellectual Capital ("AIC") (AIM: AINC) is pleased to announce that it
has reached an agreement with ITI Scotland ("ITI") to purchase all of ITI's
interest and rights in the Plurion joint venture between ITI and AIC ("Plurion")
for a sum exceeding ITI's investment. This agreement has resulted in AIC
holding approximately 80% of Plurion's share capital on a fully diluted basis.

Plurion has been working with ITI and AIC over the last two years on a research
programme for the development of Flow Battery technology. A fully developed
version of this technology would be capable of storing megawatt hours of
electrical energy for later distribution. Applications of this technology would
be of particular relevance to smoothing the availability of electricity from
renewable energy sources such as wind and also deferring power network
infrastructure expenditure.

Plurion is working with AIC on a Research and Development programme to move its
technology from bench top to commercial scale and has built a test facility at
Glenrothes in Scotland. This facility is capable of testing and demonstrating
flow batteries of up to 250kW in capacity. Plurion's product development is
nearing completion and once key milestones have been achieved Plurion will
establish manufacturing facilities.

A further announcement will be made in due course.

Dr Stephen Clarke, CEO of AIC, commented:

"We are excited about the potential of Plurion's technology and the opportunity
to take a bigger role in scale-up and production. Our decision to move Plurion
into a potentially key renewable energy market such as Scotland has been fully
justified and we have been pleased with our association and working relationship
with ITI Energy and Scottish Enterprise. Similarly, we have been impressed by
the resources and infrastructure available in Scotland."

ENQUIRIES:

Applied Intellectual Capital: Dr. Stephen Clarke Tel. +1 925 639 9399

Pelham Public Relations : Archie Berens Tel. +44 (0)207 743 6675

Nabarro Wells: Marc Cramsie Tel. +44 (0)207 710 7400

NOTES FOR EDITORS

About AIC

AIC is an AIM listed company that funds, develops, patents and commercialises
electrochemical and advanced separations technologies in clean energy,
electricity storage, water treatment, metals recovery and other emerging
markets. AIC listed on AIM in January 2007 and currently has a market
capitalisation of approximately �107 million.

About Plurion

Plurion was established to develop and subsequently commercialise a novel and
potentially highly cost-effective technology for high capacity electricity
storage. Plurion was attracted to Scotland, to develop its innovative and
revolutionary large-scale battery system by ITI Scotland's programme for
attracting new technologies to the Country.

Plurion owns the exclusive rights to a type of Flow battery (or RedOx battery)
developed by AIC. AIC provided initial funding to develop Plurion's technology.
The Directors believe that Plurion is in a strong position to exploit the
growing market for high capacity electricity storage.

This information is provided by RNS
The company news service from the London Stock Exchange
END

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