SmallCapNews | Ceramic Fuel Cells powers ahead with UK project

Search Site

Share Price Search

Latest News

Features

Company Profiles

About

Advertise

Site Sponsors

Ceramic Fuel Cells powers ahead with UK project

Thursday, August 30, 2007

Ceramic Fuel Cells (CFCL), the specialist in fuel cell development, has selected Gledhill Water Storage as its UK appliance partner, to join a project with E.ON UK to develop and deploy 1kW micro-combined heat and power (m-CHP) units for the UK market.

The three companies will work together to develop a fully-integrated m-CHP unit, which incorporates CFCL's fuel cells, for the residential market. These highly efficient units are designed to power homes whilst reducing carbon emissions, in a drive for cleaner energy generation.

Also today, CFCL posted preliminary results for the year ended 30 June 2007, with net losses rising to £7.9 million from £5.3 million last year.

Brendan Dow, the company’s managing director, said: “Ceramic Fuel Cells has had a fantastic year and we have delivered on all of the milestones set out at the time of the AIM flotation. We have proven the capabilities of our fuel cell system with many thousands of hours of field testing under our belts and are now concentrating on the pre-commercialisation phase. With a blue chip base of utility customers, access to 20 million customers in four major European markets and the development of a volume manufacturing plant underway, we are confident of continued success in the coming 12 months and we look forward to updating shareholders on progress.”