Apparently Sheffield has big hopes. In fact, the city is hoping to become the UK’s very first self-sufficient energy city, according to UK energy minister Chris Huhne. On top of all of this, this deal has already been given Huhne’s full support.
While the energy minister was visiting the city, he stopped by the University of Sheffield. It is here where they are working on world leading research in sustainable technology. Overall, the goal is to come up with technology that can help a city become fully sustainable.
His visit to this city follows an announcement made by the Sheffield City Council and energy company E.ON. They have announced that they are working hard to form a city-wide partnership that will help the city produce enough renewable energy to become self-sufficient. Overtime, the long-term goal would be for the city to produce enough energy that it could even sell some excess energy back into the national grid.
So this brings up the question, why is E.ON choosing to partner with Sheffield over other cities. Apparently E.ON has chosen Sheffield because of its international expertise on developing renewable energy technology, pretty much meaning that E.ON has faith that Sheffield has the willpower to make such a scheme work.
This is a big deal in the making. The overall goal of the government would be to see other cities make these kind of deals with other energy companies. Overtime, all cities could become self-sufficient and, thus, would be able to supply their own energy. Then all of the excess energy that the UK makes could be sold to other countries.
Monday 28 February 2011
Friday 25 February 2011
Energetics and their relative market product position in comparison to the Ceramic Fuel Cell's Bluegen
Posted by ProperCharlie - 25 Feb'11 - 08:49
I wrote to CFU asking about Energetics and their relative market / product position. I thought you might be interested in this response I received,
"....Thank you for your note and your support for CFU.
A few points about Energetix and other mCHP products:
- Energetix and all other mCHP products are heaters that produce a small amount of power as a byproduct. BlueGen is the opposite - a mini power station with a small amount of heat. We think power is more valuable than heat, so maximise electrical efficiency. That's also the way to maximise carbon savings and energy bill savings.
- The key measure is electrical efficiency- other mCHP products are often less than 10% - BlueGen is >50%, peak of 60%- so they are very different offerings.
- There is plenty of room for a range of CHP technologies and products. They have different features/benefits and suit different types of buildings. It is not a binary choice - there will be fuel cells and other CHP products (not or). (Although of course we think we've got a compelling advantage through highest electrical efficiency....if you want a heater, buy a condensing boiler...)
- We think it's a good thing that EON and other large utilities are investing in a range of CHP products. It makes it more likely that they will actually deploy products in volume. It's a sensible approach to have a portfolio of products and customer offerings. Again, it's not a binary choice.
- The market is vast and we are in early sales. A range of low emissions technologies will be needed to quickly make large carbon cuts. Perhaps in a few years we will be competing for market share - but for now all mCHP products need to create the market, before we start dividing it!
PS if you need a 3rd party source for relative electrical efficiencies etc, UK Carbon Trust did a good report in late 2007 - summary attached, and also see http://www.carbontrust.co.uk/emerging-technologies/current-focus-areas/pages/micro-combined-heat-power.aspx. It's a bit dated now but will give you the key points.
Once again thanks for your support.
Regards
Andrew Neilson
Group General Manager - Commercial...."
I wrote to CFU asking about Energetics and their relative market / product position. I thought you might be interested in this response I received,
"....Thank you for your note and your support for CFU.
A few points about Energetix and other mCHP products:
- Energetix and all other mCHP products are heaters that produce a small amount of power as a byproduct. BlueGen is the opposite - a mini power station with a small amount of heat. We think power is more valuable than heat, so maximise electrical efficiency. That's also the way to maximise carbon savings and energy bill savings.
- The key measure is electrical efficiency- other mCHP products are often less than 10% - BlueGen is >50%, peak of 60%- so they are very different offerings.
- There is plenty of room for a range of CHP technologies and products. They have different features/benefits and suit different types of buildings. It is not a binary choice - there will be fuel cells and other CHP products (not or). (Although of course we think we've got a compelling advantage through highest electrical efficiency....if you want a heater, buy a condensing boiler...)
- We think it's a good thing that EON and other large utilities are investing in a range of CHP products. It makes it more likely that they will actually deploy products in volume. It's a sensible approach to have a portfolio of products and customer offerings. Again, it's not a binary choice.
- The market is vast and we are in early sales. A range of low emissions technologies will be needed to quickly make large carbon cuts. Perhaps in a few years we will be competing for market share - but for now all mCHP products need to create the market, before we start dividing it!
PS if you need a 3rd party source for relative electrical efficiencies etc, UK Carbon Trust did a good report in late 2007 - summary attached, and also see http://www.carbontrust.co.uk/emerging-technologies/current-focus-areas/pages/micro-combined-heat-power.aspx. It's a bit dated now but will give you the key points.
Once again thanks for your support.
Regards
Andrew Neilson
Group General Manager - Commercial...."
RNS 25 February 2011 Director Shareholding Ceramic Fuel Cells Limited
RNS Number : 8453B
Ceramic Fuel Cells Limited
25 February 2011
25 February 2011
Ceramic Fuel Cells Limited
Director Shareholding
Ceramic Fuel Cells Limited (AIM / ASX: CFU) announces that on 23 February 2011, Mr Roy Rose, a non-executive director of Ceramic Fuel Cells, via his superannuation fund (Holmwood Enterprises), purchased 100,000 ordinary shares in Ceramic Fuel Cells Limited ("Ordinary Shares") at a price of AUD 0.125, representing 0.00% of the issued share capital.
Following this announcement Mr Roy Rose is interested, directly or indirectly, in a total of 216,666 Ordinary Shares representing 0.00% of the issued share capital.
For further information please contact:
Ceramic Fuel Cells
Andrew Neilson Tel: +613 9554
2300
Email: investor@cfcl.com.au
Nomura Code Securities (AIM Tel: +44 (0) 207
Nomad) 776 1200
Juliet Thompson, Chris Golden www.nomuracode.com
About Ceramic Fuel Cells Limited:
Ceramic Fuel Cells Limited is a world leader in developing fuel cell technology to provide highly efficient and low-emission electricity from widely available natural gas. Ceramic Fuel Cells is developing fully integrated power and heating products with leading energy companies E.ON UK in the United Kingdom, GdF Suez in France and EWE in Germany. The company has sold BlueGen units to major utilities and other foundation customers in Germany, the United Kingdom, Switzerland, The Netherlands, Japan, Australia and the USA.
Ceramic Fuel Cells is listed on the London Stock Exchange AIM market and the Australian Securities Exchange (code CFU).
www.cfcl.com.au
This information is provided by RNS
The company news service from the London Stock Exchange
END
Ceramic Fuel Cells Limited
25 February 2011
25 February 2011
Ceramic Fuel Cells Limited
Director Shareholding
Ceramic Fuel Cells Limited (AIM / ASX: CFU) announces that on 23 February 2011, Mr Roy Rose, a non-executive director of Ceramic Fuel Cells, via his superannuation fund (Holmwood Enterprises), purchased 100,000 ordinary shares in Ceramic Fuel Cells Limited ("Ordinary Shares") at a price of AUD 0.125, representing 0.00% of the issued share capital.
Following this announcement Mr Roy Rose is interested, directly or indirectly, in a total of 216,666 Ordinary Shares representing 0.00% of the issued share capital.
For further information please contact:
Ceramic Fuel Cells
Andrew Neilson Tel: +613 9554
2300
Email: investor@cfcl.com.au
Nomura Code Securities (AIM Tel: +44 (0) 207
Nomad) 776 1200
Juliet Thompson, Chris Golden www.nomuracode.com
About Ceramic Fuel Cells Limited:
Ceramic Fuel Cells Limited is a world leader in developing fuel cell technology to provide highly efficient and low-emission electricity from widely available natural gas. Ceramic Fuel Cells is developing fully integrated power and heating products with leading energy companies E.ON UK in the United Kingdom, GdF Suez in France and EWE in Germany. The company has sold BlueGen units to major utilities and other foundation customers in Germany, the United Kingdom, Switzerland, The Netherlands, Japan, Australia and the USA.
Ceramic Fuel Cells is listed on the London Stock Exchange AIM market and the Australian Securities Exchange (code CFU).
www.cfcl.com.au
This information is provided by RNS
The company news service from the London Stock Exchange
END
Thursday 24 February 2011
Oil prices continue to rise. Is Peak-Oil time coming?
The world economy could be in for a massive shock as oil prices continue to rise.
Oil strategist at Nomura, Michael Lo, estimates that oil prices could top $220-a-barrel - almost double today's high of $119 - if both Libya and Algeria halt production as a result of political unrest.
He told The Daily Telegraph: "We could be underestimating this as speculative activities were largely not present in 1990-1991."
The oil price increases, coupled with such warnings, spell danger for economic recovery, as inflation feeds through the supply chain.
RMI Petrol, the body which represents fuel retailers, said prices demanded by wholesalers have risen "an unprecedented" 3p-a-litre so far this week and that increase is set to feed into pump prices by the weekend.
As it stands, the average price for a litre of unleaded is 128.9p, with diesel 134.3p.
The cost of filling up has soared as a result of higher oil and taxes
It is estimated that Libya's daily output of 1.6 million barrels has already been cut by more than half because of the uncertainty there.
Three major foreign producers, Eni, BASF and Winthershall, have turned off the taps.
Together they produce 450,000 barrels a day.
One of the largest tribes in eastern Libya has threatened to cut off exports from the port of Banghazi unless the violence against pro-democracy protesters stops.
Another tribe, based south of the capital Tripoli, has also turned against Colonel Muammar Gaddafi's regime.
Saudi Arabia has said it could produce an extra four million barrels a day to make up any lost capacity and help keep prices stable.
But that has done nothing to stop the speculators and limit the sense of market panic.
The political unrest is already hitting oil deliveries
The biggest fear is that the turmoil could spread across the Middle East and North Africa, which together produce a third of the world's oil.
RMI Petrol chairman Brian Madderson told Sky News: "RMI Petrol predicts that rises will filter through to petrol forecourts over the next few weeks, leading to an estimated 5p per litre increase by April 1."
He has called for April's planned fuel duty increase to be frozen and for the Government to introduce structures so duty falls when oil prices rise.
Chancellor George Osborne has said he is considering a fuel duty stabliliser.
Oil strategist at Nomura, Michael Lo, estimates that oil prices could top $220-a-barrel - almost double today's high of $119 - if both Libya and Algeria halt production as a result of political unrest.
He told The Daily Telegraph: "We could be underestimating this as speculative activities were largely not present in 1990-1991."
The oil price increases, coupled with such warnings, spell danger for economic recovery, as inflation feeds through the supply chain.
RMI Petrol, the body which represents fuel retailers, said prices demanded by wholesalers have risen "an unprecedented" 3p-a-litre so far this week and that increase is set to feed into pump prices by the weekend.
As it stands, the average price for a litre of unleaded is 128.9p, with diesel 134.3p.
The cost of filling up has soared as a result of higher oil and taxes
It is estimated that Libya's daily output of 1.6 million barrels has already been cut by more than half because of the uncertainty there.
Three major foreign producers, Eni, BASF and Winthershall, have turned off the taps.
Together they produce 450,000 barrels a day.
One of the largest tribes in eastern Libya has threatened to cut off exports from the port of Banghazi unless the violence against pro-democracy protesters stops.
Another tribe, based south of the capital Tripoli, has also turned against Colonel Muammar Gaddafi's regime.
Saudi Arabia has said it could produce an extra four million barrels a day to make up any lost capacity and help keep prices stable.
But that has done nothing to stop the speculators and limit the sense of market panic.
The political unrest is already hitting oil deliveries
The biggest fear is that the turmoil could spread across the Middle East and North Africa, which together produce a third of the world's oil.
RMI Petrol chairman Brian Madderson told Sky News: "RMI Petrol predicts that rises will filter through to petrol forecourts over the next few weeks, leading to an estimated 5p per litre increase by April 1."
He has called for April's planned fuel duty increase to be frozen and for the Government to introduce structures so duty falls when oil prices rise.
Chancellor George Osborne has said he is considering a fuel duty stabliliser.
British Gas profits rose by 24% to a record £742m last year
British Gas has ignited customer criticism after reporting its profits rose by 24% to a record £742m last year.
The announcement was made two months after the company raised prices by 7%, during the worst winter in a century.
Around eight million British Gas customers were affected by the December 10 increase, and saw their average annual bills rise from £1,157 to £1,239.
Adam Scorer of Consumer Focus told Sky News: "Millions of households are suffering from fuel poverty which is when 10% of their income goes on the cost of keeping warm and powering the lights."
"I think when consumers see the size of these profits you can expect them to be somewhere on the spectrum from very frustrated to outraged."
Centrica Share Price 1-Year Chart
Sam Laidlaw, chief executive of Centrica - which owns British Gas - said the energy industry was in a volatile situation with commodity prices, but his company would do all it could to keep bills as low as possible.
He said British Gas would help reduce bills by providing free loft or cavity insulation to customers who buy its electricity as well as its gas.
But speaking to Sky News, British Gas' managing director Phil Bentley seemed to open up the offer to all customers - not just those who were "first in, first served".
But a company spokesman later clarified his comments by saying any customer could apply for free loft or cavity wall insulation as long as they did so online before the end of May.
British Gas is part of the energy giant Centrica
The offer was also limited to 200,000 households, the company said.
British Gas added 270,000 customers last year and is the UK's biggest gas supplier with 16 million customer accounts.
It is owned by energy giant Centrica which also revealed record figures, with its operating profits up by 29% at £2.4bn.
Centrica says recent prices increases were down to soaring wholesale prices.
The company also claims British Gas prices were 0.5% lower at the end of 2010 than at the start of the year after the supplier cut bills by 7% in February.
Ofgem, the energy watchdog, is leading an investigation into the energy giants' balance sheets after discovering average profit margins had increased as companies claimed they had no choice but to lift bills.
The announcement was made two months after the company raised prices by 7%, during the worst winter in a century.
Around eight million British Gas customers were affected by the December 10 increase, and saw their average annual bills rise from £1,157 to £1,239.
Adam Scorer of Consumer Focus told Sky News: "Millions of households are suffering from fuel poverty which is when 10% of their income goes on the cost of keeping warm and powering the lights."
"I think when consumers see the size of these profits you can expect them to be somewhere on the spectrum from very frustrated to outraged."
Centrica Share Price 1-Year Chart
Sam Laidlaw, chief executive of Centrica - which owns British Gas - said the energy industry was in a volatile situation with commodity prices, but his company would do all it could to keep bills as low as possible.
He said British Gas would help reduce bills by providing free loft or cavity insulation to customers who buy its electricity as well as its gas.
But speaking to Sky News, British Gas' managing director Phil Bentley seemed to open up the offer to all customers - not just those who were "first in, first served".
But a company spokesman later clarified his comments by saying any customer could apply for free loft or cavity wall insulation as long as they did so online before the end of May.
British Gas is part of the energy giant Centrica
The offer was also limited to 200,000 households, the company said.
British Gas added 270,000 customers last year and is the UK's biggest gas supplier with 16 million customer accounts.
It is owned by energy giant Centrica which also revealed record figures, with its operating profits up by 29% at £2.4bn.
Centrica says recent prices increases were down to soaring wholesale prices.
The company also claims British Gas prices were 0.5% lower at the end of 2010 than at the start of the year after the supplier cut bills by 7% in February.
Ofgem, the energy watchdog, is leading an investigation into the energy giants' balance sheets after discovering average profit margins had increased as companies claimed they had no choice but to lift bills.
Solar panel has world's highest energy conversion efficiency rate of 21.6 percent
A manufacturer of what is believed to be the world's most efficient solar units announced on February 1 that the cells have achieved MCS accreditation and are now ready for use in the UK.
SANYO Component Europe GmbH (SANYO) produces the HIT series of photovoltaic cells, including the N 220SE10 which, to date, has the world's highest energy conversion efficiency rate of 21.6 percent.
On February 1 the company announced that the HIT cells had passed MCS accreditation. MCS accreditation is bestowed upon companies by the independent Microgeneration Certification Scheme, which certifies small scale or 'mircogeneration' technologies that are used to produce heat of electricity from renewable resources.
Though the HIT Series of cells are already commercially available throughout mainland Europe, MCS accreditation is required before products can be released into the UK market.
For consumers the MCS accreditation essentially means that consumers can use the HIT cells under the Feed In Tariff (FIT) scheme - a Europe-wide financial incentive rewarding those who install power generating renewable energy devices connected to the grid.
This is of benefit to consumers as the high efficiency rate allows more power to be generated using fewer cells and also means that less roof space is required to generate solar power- which increases the opportunities for renewable energy generation for those where space is an issue. The 'N' series of HIT modules will be commercially available from March 2011.
Other renewable energy companies from around the world will be showcasing the latest in renewable and energy efficient technologies at a series of upcoming exhibitions including), EXPO Solar in Goyang, South Korea (February 16-18), the Renewable Energy Expo in Lyon, France (February15-18) and Eco Build in London (March 1-3).
Eco Build attracts over 1,300 exhibitors and 41,000 visitors from around the globe and is used by companies as a launchpad for their new products. At Eco Build 2011 numerous photovoltaic companies including Emmvee, the Ideal Group and Mitsubishi plan to launch their latest innovations in the field of solar power.
SANYO Component Europe GmbH (SANYO) produces the HIT series of photovoltaic cells, including the N 220SE10 which, to date, has the world's highest energy conversion efficiency rate of 21.6 percent.
On February 1 the company announced that the HIT cells had passed MCS accreditation. MCS accreditation is bestowed upon companies by the independent Microgeneration Certification Scheme, which certifies small scale or 'mircogeneration' technologies that are used to produce heat of electricity from renewable resources.
Though the HIT Series of cells are already commercially available throughout mainland Europe, MCS accreditation is required before products can be released into the UK market.
For consumers the MCS accreditation essentially means that consumers can use the HIT cells under the Feed In Tariff (FIT) scheme - a Europe-wide financial incentive rewarding those who install power generating renewable energy devices connected to the grid.
This is of benefit to consumers as the high efficiency rate allows more power to be generated using fewer cells and also means that less roof space is required to generate solar power- which increases the opportunities for renewable energy generation for those where space is an issue. The 'N' series of HIT modules will be commercially available from March 2011.
Other renewable energy companies from around the world will be showcasing the latest in renewable and energy efficient technologies at a series of upcoming exhibitions including), EXPO Solar in Goyang, South Korea (February 16-18), the Renewable Energy Expo in Lyon, France (February15-18) and Eco Build in London (March 1-3).
Eco Build attracts over 1,300 exhibitors and 41,000 visitors from around the globe and is used by companies as a launchpad for their new products. At Eco Build 2011 numerous photovoltaic companies including Emmvee, the Ideal Group and Mitsubishi plan to launch their latest innovations in the field of solar power.
Energy provider E.ON has won the exclusive right to explore land owned by Forestry Commission Scotland
Energy provider E.ON has won the exclusive right to explore the potential for new wind energy projects on two lots of land owned by Forestry Commission Scotland (FCS).
E.ON estimates that the two awarded lots located in the north and west of Scotland have the potential to generate around 500MW or enough renewable electricity to power more than 270,000 homes annually, based on an average annual domestic household consumption of 4,700kWh.
Read more: http://www.theengineer.co.uk/sectors/energy-and-environment/eon-wins-right-to-develop-wind-energy-on-scottish-lots/1007546.article#ixzz1EsshhoSV
E.ON estimates that the two awarded lots located in the north and west of Scotland have the potential to generate around 500MW or enough renewable electricity to power more than 270,000 homes annually, based on an average annual domestic household consumption of 4,700kWh.
Read more: http://www.theengineer.co.uk/sectors/energy-and-environment/eon-wins-right-to-develop-wind-energy-on-scottish-lots/1007546.article#ixzz1EsshhoSV
E.ON has been named one of the 100 best employers in Germany.
E.ON has been named one of the 100 best employers in Germany. E.ON also achieved an excellent 5th place postion in the category "Companies with over 5,000 employees" in the coveted Great Place to Work® Institute "Deutschlands Beste Arbeitgeber 2011" awards. This is the 8 time E.ON, one of the largest power and gas companies in Europe, has been successful. The award recognizes attractive employers with a special quality and was conferred by the Great Place to Work® Institute Germany and the Federal Ministry of Labour and Social Affairs at an award gala in Berlin.
Regine Stachelhaus, member of the E.ON AG Board of Management said: "Our ranking among the top 5 employers in Germany is an award for our HR work. We will not let up in our commitment to create attractive working conditions and development possibilities in order to offer our employees a rewarding working environment and, in an increasingly tighter market, to continue to remain among the best for recruiting talent."
As part of the nationwide employer competition, seven German E.ON companies participated in an anonymous employee survey. The key assessment criteria were credibility, respect and fairness, identification of the employees with and the team spirit in the company. In addition, the activities and concepts of the company’s HR work were analysed and assessed in a ‘culture audit’.
A total of 290 companies from all branches of industry, size categories and regions applied for the quality seal " Deutschlands Beste Arbeitgeber 2011". They were subjected to a thorough examination and an independent assessment of their quality and attraction as employers. The Great Place to Work® Institute Germany surveyed a total of some 120,000 workers.
The annual study and the competition " Deutschlands Beste Arbeitgeber" are conducted by the Great Place to Work® Institute Germany in cooperation with the New Quality of Work Initiative (INQA), the University of Cologne and the Federal Ministry of Labour and Social Affairs. The "Handelsblatt" newspaper and "personalmagazin" are the media partners.
Regine Stachelhaus, member of the E.ON AG Board of Management said: "Our ranking among the top 5 employers in Germany is an award for our HR work. We will not let up in our commitment to create attractive working conditions and development possibilities in order to offer our employees a rewarding working environment and, in an increasingly tighter market, to continue to remain among the best for recruiting talent."
As part of the nationwide employer competition, seven German E.ON companies participated in an anonymous employee survey. The key assessment criteria were credibility, respect and fairness, identification of the employees with and the team spirit in the company. In addition, the activities and concepts of the company’s HR work were analysed and assessed in a ‘culture audit’.
A total of 290 companies from all branches of industry, size categories and regions applied for the quality seal " Deutschlands Beste Arbeitgeber 2011". They were subjected to a thorough examination and an independent assessment of their quality and attraction as employers. The Great Place to Work® Institute Germany surveyed a total of some 120,000 workers.
The annual study and the competition " Deutschlands Beste Arbeitgeber" are conducted by the Great Place to Work® Institute Germany in cooperation with the New Quality of Work Initiative (INQA), the University of Cologne and the Federal Ministry of Labour and Social Affairs. The "Handelsblatt" newspaper and "personalmagazin" are the media partners.
Ceramic Fuel Cells Limited Director Shareholding 24 February 2011
24 February 2011
Ceramic Fuel Cells Limited
Director Shareholding
Ceramic Fuel Cells Limited (AIM / ASX: CFU) announces that on 23 February 2011, Mr John Dempsey, a non-executive director of Ceramic Fuel Cells, via his superannuation fund (JHM Superfund), purchased 100,000 ordinary shares in Ceramic Fuel Cells Limited ("Ordinary Shares") at a price of AUD 0.125, representing 0.00% of the issued share capital.
Following this announcement Mr John Dempsey is interested, directly or indirectly, in a total of 400,000 Ordinary Shares representing 0.00% of the issued share capital.
For further information please contact:
Ceramic Fuel Cells
Andrew Neilson Tel: +613 9554
2300
Email: investor@cfcl.com.au
Ceramic Fuel Cells Limited
Director Shareholding
Ceramic Fuel Cells Limited (AIM / ASX: CFU) announces that on 23 February 2011, Mr John Dempsey, a non-executive director of Ceramic Fuel Cells, via his superannuation fund (JHM Superfund), purchased 100,000 ordinary shares in Ceramic Fuel Cells Limited ("Ordinary Shares") at a price of AUD 0.125, representing 0.00% of the issued share capital.
Following this announcement Mr John Dempsey is interested, directly or indirectly, in a total of 400,000 Ordinary Shares representing 0.00% of the issued share capital.
For further information please contact:
Ceramic Fuel Cells
Andrew Neilson Tel: +613 9554
2300
Email: investor@cfcl.com.au
Wednesday 23 February 2011
Mitsubishi Electric Corp. has installed an 85 kW photovoltaic system on the roof of Makita Corp.'s main factory in Takamatsu City, Japan
Mitsubishi Electric Corp. has installed an 85 kW photovoltaic system on the roof of Makita Corp.'s main factory in Takamatsu City, Japan.
The PV system, which is the first for Makita, will begin generating electricity later this month, according to Mitsubishi Electric. Electricity generated by a total of 448 PV modules installed over a surface area of 700 square meters will cover approximately 3% of the manufacturing, air conditioning and lighting requirements at Makita's marine diesel engine factory.
SOURCE: Mitsubishi Electric
The PV system, which is the first for Makita, will begin generating electricity later this month, according to Mitsubishi Electric. Electricity generated by a total of 448 PV modules installed over a surface area of 700 square meters will cover approximately 3% of the manufacturing, air conditioning and lighting requirements at Makita's marine diesel engine factory.
SOURCE: Mitsubishi Electric
Arab Islamic Bank in Irbid has Multi V Systems, the latest commercial air conditioning innovation from LG air conditioning
Multi V Systems, the latest commercial air conditioning innovation from LG Electronics, to be installed at the Arab Islamic Bank in Irbid, according to an agreement recently signed by Shami & Hyari Engineering & Contracting Co., the complex construction company, and Al-Asalah Electromechanics Co, LG commercial air conditioning agent in Jordan. This fruitful cooperation is part of LG's strategy to expand in the central air conditioning market, especially in systems that better serve the commercial sector, in addition to its keenness to provide products of latest techniques and the highest international quality standards.
GM of Al-Asalah Co., Mr. Issam Samara, and Eng. Ammar Shami, representing Shami & Hyari Co., signed the agreement in presence of the Marketing and Sales Manager, Mr. Hammam Al-Mubaiad, and the Engineering Department Manager, Eng. Iyad Al-Haj from Al-Asalah.
During the signing ceremony, Mr. Samara extended his gratitude to the project's contractors, Al Shami & Hyari Construction Co., the project's consultants, Dumiati and Sha'sha'a engineering office, and to the Arab Islamic Bank. He further pledged to offer better after sale services, through Al-Asalah technical and engineering team who regularly follow up on LG HVAC systems.
LG MULTI V air conditioning systems are perfect for high-rise buildings- up to 100m- with a flair for style. LG MULTI V ART COOLTM inverter is one of the world's largest-capacity units, amounting 64 horse power per unit; it boosts an ultra-efficient VRF system, and the highest level of customer satisfaction with four external units and high quality compressors running by "Inverter" technique which reduces electricity consumption.
This system is also marked for its flexible design, it can operate 64 interior units of different sizes and shapes; not to forget to mention the smooth performance, various operation speeds, the quality air purifying filters and air conditioning switches to maintain the optimum room temperature during the most challenging season changes that can reach to 54c degree in summer and 20c in winter.
GM of Al-Asalah Co., Mr. Issam Samara, and Eng. Ammar Shami, representing Shami & Hyari Co., signed the agreement in presence of the Marketing and Sales Manager, Mr. Hammam Al-Mubaiad, and the Engineering Department Manager, Eng. Iyad Al-Haj from Al-Asalah.
During the signing ceremony, Mr. Samara extended his gratitude to the project's contractors, Al Shami & Hyari Construction Co., the project's consultants, Dumiati and Sha'sha'a engineering office, and to the Arab Islamic Bank. He further pledged to offer better after sale services, through Al-Asalah technical and engineering team who regularly follow up on LG HVAC systems.
LG MULTI V air conditioning systems are perfect for high-rise buildings- up to 100m- with a flair for style. LG MULTI V ART COOLTM inverter is one of the world's largest-capacity units, amounting 64 horse power per unit; it boosts an ultra-efficient VRF system, and the highest level of customer satisfaction with four external units and high quality compressors running by "Inverter" technique which reduces electricity consumption.
This system is also marked for its flexible design, it can operate 64 interior units of different sizes and shapes; not to forget to mention the smooth performance, various operation speeds, the quality air purifying filters and air conditioning switches to maintain the optimum room temperature during the most challenging season changes that can reach to 54c degree in summer and 20c in winter.
Ceramic Fuel Cells Limited Ceramic Fuel Cells to exhibit at Ecobuild 2011
Ceramic Fuel Cells Limited Ceramic Fuel Cells to exhibit at Ecobuild
London Stock Exchange Aggregated Regulatory News Service (ARNS)
February 23, 2011
RNS Number : 6850B Ceramic Fuel Cells Limited 23 February 2011 23 February 2011 Ceramic Fuel Cells to exhibit BlueGen gas-to-electricity generator at E.ON's stand at Ecobuild Ceramic Fuel Cells Limited [AIM/ASX:CFU], a leading developer of high efficiency and low emission electricity generation units for homes and other buildings, is to exhibit its BlueGen gas-to-electricity generator at E.ON's stand at the forthcoming Ecobuild trade show.
This is the first time that BlueGen has been made available for public viewing in the UK. BlueGen uses ceramic fuel cells to turn natural gas into electricity and heat for hot water. BlueGen units can generate electricity far more efficiently than the current power grid, providing significant cost savings to energy bills and large carbon savings. Ecobuild, which is to be held at the ExCeL exhibition and conference centre in the London's Docklands from 1 March to 3 March 2011, is the world's biggest event for sustainable design, construction and the built environment and the UK's largest construction event of any kind. On 22 December 2010 Ceramic Fuel Cells Limited announced that it had sold three BlueGen gas-to-electricity generators to E.ON, one of the UK's leading energy companies and that the two companies are continuing to develop fully integrated power and heating products for the UK market. Investors or media interested in learning more about BlueGen or receiving a demonstration at Ecobuild should contact Ceramic Fuel Cells Limited. www.ecobuild.co.uk/index.html Ceramic Fuel Cells Limited Mark Way +44 7786 116991 About Ceramic Fuel Cells Limited: -- Ceramic Fuel Cells Limited is a world leader in developing fuel cell technology to provide highly efficient and low-emission electricity from widely available natural gas. -- Ceramic Fuel Cells is developing fully integrated power and heating products with leading energy companies E.ON UK in the United Kingdom, GdF Suez in France and EWE in Germany. -- During 2010 EWE placed a conditional order for up to 200 integrated micro CHP products Ceramic Fuel Cells' patented technology. -- Ceramic Fuel Cells Limited has also sold 55 BlueGen gas-to-electricity generators to major utilities and other foundation customers in Germany, the United Kingdom, Switzerland, The Netherlands, Japan, Australia and the USA. -- Ceramic Fuel Cells is listed on the London Stock Exchange AIM market and the Australian Securities Exchange (code CFU). www.cfcl.com.au About E.ON: -- E.ON is one of the UK's leading power and gas companies - generating and distributing electricity, and retailing power and gas - and is part of the E.ON group, one of the world's largest investor-owned power and gas companies. E.ON employs more than 15,000 people in the UK and more than 88,000 worldwide.
London Stock Exchange Aggregated Regulatory News Service (ARNS)
February 23, 2011
RNS Number : 6850B Ceramic Fuel Cells Limited 23 February 2011 23 February 2011 Ceramic Fuel Cells to exhibit BlueGen gas-to-electricity generator at E.ON's stand at Ecobuild Ceramic Fuel Cells Limited [AIM/ASX:CFU], a leading developer of high efficiency and low emission electricity generation units for homes and other buildings, is to exhibit its BlueGen gas-to-electricity generator at E.ON's stand at the forthcoming Ecobuild trade show.
This is the first time that BlueGen has been made available for public viewing in the UK. BlueGen uses ceramic fuel cells to turn natural gas into electricity and heat for hot water. BlueGen units can generate electricity far more efficiently than the current power grid, providing significant cost savings to energy bills and large carbon savings. Ecobuild, which is to be held at the ExCeL exhibition and conference centre in the London's Docklands from 1 March to 3 March 2011, is the world's biggest event for sustainable design, construction and the built environment and the UK's largest construction event of any kind. On 22 December 2010 Ceramic Fuel Cells Limited announced that it had sold three BlueGen gas-to-electricity generators to E.ON, one of the UK's leading energy companies and that the two companies are continuing to develop fully integrated power and heating products for the UK market. Investors or media interested in learning more about BlueGen or receiving a demonstration at Ecobuild should contact Ceramic Fuel Cells Limited. www.ecobuild.co.uk/index.html Ceramic Fuel Cells Limited Mark Way +44 7786 116991 About Ceramic Fuel Cells Limited: -- Ceramic Fuel Cells Limited is a world leader in developing fuel cell technology to provide highly efficient and low-emission electricity from widely available natural gas. -- Ceramic Fuel Cells is developing fully integrated power and heating products with leading energy companies E.ON UK in the United Kingdom, GdF Suez in France and EWE in Germany. -- During 2010 EWE placed a conditional order for up to 200 integrated micro CHP products Ceramic Fuel Cells' patented technology. -- Ceramic Fuel Cells Limited has also sold 55 BlueGen gas-to-electricity generators to major utilities and other foundation customers in Germany, the United Kingdom, Switzerland, The Netherlands, Japan, Australia and the USA. -- Ceramic Fuel Cells is listed on the London Stock Exchange AIM market and the Australian Securities Exchange (code CFU). www.cfcl.com.au About E.ON: -- E.ON is one of the UK's leading power and gas companies - generating and distributing electricity, and retailing power and gas - and is part of the E.ON group, one of the world's largest investor-owned power and gas companies. E.ON employs more than 15,000 people in the UK and more than 88,000 worldwide.
THOUSANDS of people in East Yorkshire will be trained to work on wind turbines at the first centre of its kind in the UK
THOUSANDS of people in East Yorkshire will be trained to work on wind turbines at the first centre of its kind in the UK.
The Mail can reveal around 3,000 people a year are expected to be trained in the construction and maintenance of wind turbines at a purpose-built centre in Hull.
The centre will include a 20 metre-high tower to enable learners to get up to speed with climbing huge turbines, offering practical experience for a range of renewables jobs.
This will be complemented by a 25 metre-high training tower on the city's Albert Dock, where prospective employees can also practice working at heights and in confined spaces.
There are also plans to site a turbine tower on the quay side.
Training will be available to anyone looking for a new career, ranging from school and college-leavers to former caravan workers made redundant.
The new training centre is the first tangible proof of the Humber becoming a "super cluster" for the UK's booming renewables industry.
It comes after global energy giant Siemens announced plans to build a huge turbine manufacturing factory in Hull, which is expected to create around 10,000 jobs.
The training centre will open in June and will help provide the workforce for Siemens and other companies.
It is a partnership between Humberside Offshore Training Association (HOTA) and Total Access .
Linda Ellis, general manager at HOTA, said: "This is going to be a unique facility for the wind power industry – not just unique to the region, but to the rest of the country."
The company has invested around £250,000 in the training centre, in Malmo Road, east Hull.
It currently trains around 5,000 people a year in offshore work, such as that on oil rigs.
HOTA expects to train around 3,000 people specifically for the renewable sector every year.
Andrew Dack, managing director of Total Access (UK) Ltd, said: "We are in a strong position to deliver the needs of the renewable energy market from the UK's only purpose-built facility that serves both the marine and land based renewable energy training requirements."
News of the new facility comes just weeks after Siemens announced Hull's Alexandra Dock as the preferred location for its turbine factory.
Mike Sellers, deputy port manager at Associated British Ports (ABP), which owns the dock, said: "This certainly complements the message that the Humber is the ideal location for a renewables super cluster.
"We have always said that Hull and the Humber is the ideal location for firms looking to cash in on the renewables sector.
"Now there is a definite buzz around the place and a positive feel that we can really do this."
HOTA revealed its proposals to the Mail yesterday at a major renewables event at the University of Hull.
The event -Renewing the Humber – was set up to help businesses and investors understand the opportunities in the region's renewables sector and how they could benefit from them.
HOTA had already been in the process of expansion onto a property next to its existing training centre in Malmo Road, where it planned to transfer and expand some of its existing facilities.
The Mail previously reported how Endeavour School, on Beverley Road, could be closed and turned into another training centre for the renewables industry.
The Mail can reveal around 3,000 people a year are expected to be trained in the construction and maintenance of wind turbines at a purpose-built centre in Hull.
The centre will include a 20 metre-high tower to enable learners to get up to speed with climbing huge turbines, offering practical experience for a range of renewables jobs.
This will be complemented by a 25 metre-high training tower on the city's Albert Dock, where prospective employees can also practice working at heights and in confined spaces.
There are also plans to site a turbine tower on the quay side.
Training will be available to anyone looking for a new career, ranging from school and college-leavers to former caravan workers made redundant.
The new training centre is the first tangible proof of the Humber becoming a "super cluster" for the UK's booming renewables industry.
It comes after global energy giant Siemens announced plans to build a huge turbine manufacturing factory in Hull, which is expected to create around 10,000 jobs.
The training centre will open in June and will help provide the workforce for Siemens and other companies.
It is a partnership between Humberside Offshore Training Association (HOTA) and Total Access .
Linda Ellis, general manager at HOTA, said: "This is going to be a unique facility for the wind power industry – not just unique to the region, but to the rest of the country."
The company has invested around £250,000 in the training centre, in Malmo Road, east Hull.
It currently trains around 5,000 people a year in offshore work, such as that on oil rigs.
HOTA expects to train around 3,000 people specifically for the renewable sector every year.
Andrew Dack, managing director of Total Access (UK) Ltd, said: "We are in a strong position to deliver the needs of the renewable energy market from the UK's only purpose-built facility that serves both the marine and land based renewable energy training requirements."
News of the new facility comes just weeks after Siemens announced Hull's Alexandra Dock as the preferred location for its turbine factory.
Mike Sellers, deputy port manager at Associated British Ports (ABP), which owns the dock, said: "This certainly complements the message that the Humber is the ideal location for a renewables super cluster.
"We have always said that Hull and the Humber is the ideal location for firms looking to cash in on the renewables sector.
"Now there is a definite buzz around the place and a positive feel that we can really do this."
HOTA revealed its proposals to the Mail yesterday at a major renewables event at the University of Hull.
The event -Renewing the Humber – was set up to help businesses and investors understand the opportunities in the region's renewables sector and how they could benefit from them.
HOTA had already been in the process of expansion onto a property next to its existing training centre in Malmo Road, where it planned to transfer and expand some of its existing facilities.
The Mail previously reported how Endeavour School, on Beverley Road, could be closed and turned into another training centre for the renewables industry.
Super Angel Fund aims to bring 10 companies to an initial public offering by 2025 has announced its first major investment
A so-called 'super angel fund' which aims to bring 10 companies to an initial public offering by 2025 has announced its first major investment.
Lough Shore Investments in Belfast has given the cash injection to wind energy firm Simple Power, which focuses on generating power from single wind turbines.
A spokesman for Lough Shore, which was founded last year by ex-Wombat chief executive Danny Moore, would not confirm the sum of the investment but revealed it was considerable.
Earlier this month Mr Moore said he wanted to target renewable energy firms, though the fund recently invested in a technology start-up.
Simple Power, which was set up by planning consultant Paul Carson, wants to invest over £50m in Northern Ireland's wind energy market over the next five years.
Ultimately it hopes to help produce more than 50MW of wind energy every year by 2015.
Danny Moore said the venture "ticked all the right boxes" for Lough Shore Investments.
"We want to invest in high potential management teams and partner with them to build great businesses.
"As a first investment, Simple Power could not fit those criteria better. Their management team is second to none, boasting individuals with a proven track record of success both here and abroad
"Their innovative solution is scalable, making it possible to deploy right across the UK, Ireland and mainland Europe. It possesses all the ingredients required to be a great business."
Mr Moore added that Lough Shore would aim to help develop energy possibilities in off-shore wind, biomass and hydro power.
Paul Carson, chief executive of Simple Power, said its business model was built on "dealing openly, honestly and fairly with landowners and farmers".
"They're integral to our business model and we have no doubt this unique approach will make Simple Power the primary renewable energy source in Northern Ireland in the years to come.
"We're delighted to partner with Lough Shore Investments.
"Simple Power is setting out on a journey to harness the vast renewable energy potential that exists in Northern Ireland."
As chief executive of financial software business Wombat, Mr Moore rang the opening bell of the New York Stock Exchange when the firm was bought by NYSE Euronext.
Read more: http://www.belfasttelegraph.co.uk/business/business-news/angel-fund-targets-10-startups-for-ipo-bid-15093377.html#ixzz1EmEVlnqD
Lough Shore Investments in Belfast has given the cash injection to wind energy firm Simple Power, which focuses on generating power from single wind turbines.
A spokesman for Lough Shore, which was founded last year by ex-Wombat chief executive Danny Moore, would not confirm the sum of the investment but revealed it was considerable.
Earlier this month Mr Moore said he wanted to target renewable energy firms, though the fund recently invested in a technology start-up.
Simple Power, which was set up by planning consultant Paul Carson, wants to invest over £50m in Northern Ireland's wind energy market over the next five years.
Ultimately it hopes to help produce more than 50MW of wind energy every year by 2015.
Danny Moore said the venture "ticked all the right boxes" for Lough Shore Investments.
"We want to invest in high potential management teams and partner with them to build great businesses.
"As a first investment, Simple Power could not fit those criteria better. Their management team is second to none, boasting individuals with a proven track record of success both here and abroad
"Their innovative solution is scalable, making it possible to deploy right across the UK, Ireland and mainland Europe. It possesses all the ingredients required to be a great business."
Mr Moore added that Lough Shore would aim to help develop energy possibilities in off-shore wind, biomass and hydro power.
Paul Carson, chief executive of Simple Power, said its business model was built on "dealing openly, honestly and fairly with landowners and farmers".
"They're integral to our business model and we have no doubt this unique approach will make Simple Power the primary renewable energy source in Northern Ireland in the years to come.
"We're delighted to partner with Lough Shore Investments.
"Simple Power is setting out on a journey to harness the vast renewable energy potential that exists in Northern Ireland."
As chief executive of financial software business Wombat, Mr Moore rang the opening bell of the New York Stock Exchange when the firm was bought by NYSE Euronext.
Read more: http://www.belfasttelegraph.co.uk/business/business-news/angel-fund-targets-10-startups-for-ipo-bid-15093377.html#ixzz1EmEVlnqD
Tuesday 22 February 2011
Energy Secretary Chris Huhne praises environmentally-friendly schemes in Bristol
SOME of Bristol's most innovative environmental projects were showcased during a visit by a top Government minister.
A car powered by gas from sewage and £9.4-million plans for a council- owned wind farm in Avonmouth were among the projects showed off to Energy and Climate Change minister Chris Huhne during his tour of the city yesterday.
Mr Huhne said: "Bristol's work to build new industries and jobs around green technologies offers us a glimpse into the future.
"As we face oil prices beyond $100 a barrel and the clearest evidence yet of the physical dangers to the UK of manmade climate change, low carbon is the sure-fire insurance policy with a big economic dividend.
"The city council's plans to build its own wind turbines will generate green electricity and new revenues for the local community."
The Liberal Democrat got behind the wheel of the Bio Bug, a modified Volkswagen Beetle which last year became the UK's first car to run on gas generated from sewage sludge.
Waste recycling company GENeco, which operates the sewage works in Kings Weston Lane, Avonmouth, creates the environmentally-friendly fuel by treating surplus gas.
Mr Huhne also took a look at a plot of council-owned land in Avonmouth which could soon become home to two large wind turbines. If the project takes off, the turbines could generate enough energy to earn the council £1.1 million a year supplying electricity to the National Grid.
Accompanied by city council leader Barbara Janke and councillors Gary Hopkins and Neil Harrison, the minister started his visit at Bristol Port, where he heard from the Bristol Port Company about its new deep-sea container port and plans for offshore renewable industries.
Mr Huhne added: "Bristol Port's plans around offshore wind offer a new future for an established facility. And the bio bug is British innovation at its best. These projects put Bristol ahead of many in seeing the economic and environmental payoffs of shifting to low carbon."
Bristol is one of nine areas receiving funding from the Department of Energy and Climate Change for projects.
Some of the cash will be used to assess all city houses to see whether solar panels can be fitted to them.
In addition, all the city's 34,000 street lights will be updated to be more energy efficient, ten biomass boilers will be fitted in schools and leisure centres and council buildings and schools will also have solar panels installed.
Ms Janke said: "It is very good news that the Energy Secretary is seeing for himself some of our renewable energy projects around the city.
"It is welcome he is taking time to meet with businesses – we have one of the largest environmental technologies sectors in the UK and we want to do all we can to encourage growth and job creation."
A car powered by gas from sewage and £9.4-million plans for a council- owned wind farm in Avonmouth were among the projects showed off to Energy and Climate Change minister Chris Huhne during his tour of the city yesterday.
Mr Huhne said: "Bristol's work to build new industries and jobs around green technologies offers us a glimpse into the future.
"As we face oil prices beyond $100 a barrel and the clearest evidence yet of the physical dangers to the UK of manmade climate change, low carbon is the sure-fire insurance policy with a big economic dividend.
"The city council's plans to build its own wind turbines will generate green electricity and new revenues for the local community."
The Liberal Democrat got behind the wheel of the Bio Bug, a modified Volkswagen Beetle which last year became the UK's first car to run on gas generated from sewage sludge.
Waste recycling company GENeco, which operates the sewage works in Kings Weston Lane, Avonmouth, creates the environmentally-friendly fuel by treating surplus gas.
Mr Huhne also took a look at a plot of council-owned land in Avonmouth which could soon become home to two large wind turbines. If the project takes off, the turbines could generate enough energy to earn the council £1.1 million a year supplying electricity to the National Grid.
Accompanied by city council leader Barbara Janke and councillors Gary Hopkins and Neil Harrison, the minister started his visit at Bristol Port, where he heard from the Bristol Port Company about its new deep-sea container port and plans for offshore renewable industries.
Mr Huhne added: "Bristol Port's plans around offshore wind offer a new future for an established facility. And the bio bug is British innovation at its best. These projects put Bristol ahead of many in seeing the economic and environmental payoffs of shifting to low carbon."
Bristol is one of nine areas receiving funding from the Department of Energy and Climate Change for projects.
Some of the cash will be used to assess all city houses to see whether solar panels can be fitted to them.
In addition, all the city's 34,000 street lights will be updated to be more energy efficient, ten biomass boilers will be fitted in schools and leisure centres and council buildings and schools will also have solar panels installed.
Ms Janke said: "It is very good news that the Energy Secretary is seeing for himself some of our renewable energy projects around the city.
"It is welcome he is taking time to meet with businesses – we have one of the largest environmental technologies sectors in the UK and we want to do all we can to encourage growth and job creation."
Monday 21 February 2011
Ceres commences Wall Hung Fuel Cell Boiler Trial 19th February 2011
Fuel cell manufacturer, Ceres Power Holdings plc has commenced commercial field trials of its wall‐mounted Combined Heat and Power (CHP) boiler in occupied homes.
Following receipt of European type approval, an operating fuel cell CHP product generating heat and power has now been installed in the family home of a British Gas customer in South East England. The field trials programme will continue throughout 2011 and into 2012 with Ceres' CHP products being deployed in a wide range of homes across the UK. In addition, there is an extensive on‐going testing programme of CHP products and components at the Ceres' test facilities.
The first wave of CHP products is being installed in consumers' homes during the first quarter of 2011, with the second wave of products incorporating valuable in‐field experience to follow six months later. The final wave of at least 150 field trial CHP products will take place in 2012 to test the Company's ability to scale‐up for initial product sales and volume launch with British Gas.
The Ceres Power fuel cell CHP product operates on mains natural gas and can generate all of the heating and hot water and the majority of the electricity needs of a typical UK home.
The CHP boilers for the field trials are being manufactured using volume‐capable processes, with the fuel cells at the heart of the product being produced at the Ceres factory in Horsham, whilst CHP boiler assembly is taking place in Holland.
Peter Bance, Chief Executive Officer of Ceres Power, says "We have made enormous progress in the development of our product over the past few months and the start of commercial field trials is a major milestone in Ceres Power's development. I am delighted that our unique wall‐ mounted fuel cell CHP product is now being installed in consumers' homes and look forward to selling the product in conjunction with British Gas."
The field trials are being conducted in partnership with British Gas. Under the contract with Ceres Power, British Gas is paying £5 million to the Company in staged milestone payments and has also placed a forward order to purchase in aggregate a minimum of 37,500 CHP products on an escalating basis. Ceres Power will give an update on its British Gas residential CHP programme at the Company's Interim Results to be presented next month.
Following receipt of European type approval, an operating fuel cell CHP product generating heat and power has now been installed in the family home of a British Gas customer in South East England. The field trials programme will continue throughout 2011 and into 2012 with Ceres' CHP products being deployed in a wide range of homes across the UK. In addition, there is an extensive on‐going testing programme of CHP products and components at the Ceres' test facilities.
The first wave of CHP products is being installed in consumers' homes during the first quarter of 2011, with the second wave of products incorporating valuable in‐field experience to follow six months later. The final wave of at least 150 field trial CHP products will take place in 2012 to test the Company's ability to scale‐up for initial product sales and volume launch with British Gas.
The Ceres Power fuel cell CHP product operates on mains natural gas and can generate all of the heating and hot water and the majority of the electricity needs of a typical UK home.
The CHP boilers for the field trials are being manufactured using volume‐capable processes, with the fuel cells at the heart of the product being produced at the Ceres factory in Horsham, whilst CHP boiler assembly is taking place in Holland.
Peter Bance, Chief Executive Officer of Ceres Power, says "We have made enormous progress in the development of our product over the past few months and the start of commercial field trials is a major milestone in Ceres Power's development. I am delighted that our unique wall‐ mounted fuel cell CHP product is now being installed in consumers' homes and look forward to selling the product in conjunction with British Gas."
The field trials are being conducted in partnership with British Gas. Under the contract with Ceres Power, British Gas is paying £5 million to the Company in staged milestone payments and has also placed a forward order to purchase in aggregate a minimum of 37,500 CHP products on an escalating basis. Ceres Power will give an update on its British Gas residential CHP programme at the Company's Interim Results to be presented next month.
Ultra Electronics acquires portable fuel cell manufacturer Adaptive Materials
U.K.-based Ultra Electronics Holdings has acquired Adaptive Materials, a Michigan-based solid oxide fuel cell developer for $23 million. According to an Adaptive Materials press release, the company will continue to develop and manufacture propane-powered fuel cell systems.
Adaptive Materials designs and manufactures portable fuel cells in the 50-300 W range. Its solid oxide fuel cells run on propane. The company says that propane fuel cells can deliver nine times the energy density of conventional batteries.
2010 appeared to be a good year for Adaptive Materials. Back in March the company won $3 million in new funding through Michigan’s Centers of Energy Excellence Program. In September they were awarded a $750,000 contract to manufacture energy software for the battlefield and received $2.5 million in DARPA funding for portable fuel cells for the U.S. Army. The Army then awarded them $12 million for fuel cell research in November.
Ultra Electronics and Adaptive Materials seems to be a good fit. Ultra Electronics is also a defense company, also focusing on aerospace applications. If things go as planned, Ultra Electronics will offer an additional $5 million to the sale of Adaptive Materials. Certain performance-based measures must be achieved by December 13, 2013 for that bonus to qualify. Lucky number 13?
As a side note, Ultra Electronics says it will keep everyone currently employed at Adaptive, and still hopes to fill the 10 employment positions that Adaptive has open.
Adaptive Materials designs and manufactures portable fuel cells in the 50-300 W range. Its solid oxide fuel cells run on propane. The company says that propane fuel cells can deliver nine times the energy density of conventional batteries.
2010 appeared to be a good year for Adaptive Materials. Back in March the company won $3 million in new funding through Michigan’s Centers of Energy Excellence Program. In September they were awarded a $750,000 contract to manufacture energy software for the battlefield and received $2.5 million in DARPA funding for portable fuel cells for the U.S. Army. The Army then awarded them $12 million for fuel cell research in November.
Ultra Electronics and Adaptive Materials seems to be a good fit. Ultra Electronics is also a defense company, also focusing on aerospace applications. If things go as planned, Ultra Electronics will offer an additional $5 million to the sale of Adaptive Materials. Certain performance-based measures must be achieved by December 13, 2013 for that bonus to qualify. Lucky number 13?
As a side note, Ultra Electronics says it will keep everyone currently employed at Adaptive, and still hopes to fill the 10 employment positions that Adaptive has open.
UK Feed in Tariff (FIT's) for Ceramic Fuel Cells Bluegen MCHP
UK Feed in Tariff
During the half-year (2010) the Company continued to make progress towards having BlueGen certified under the Microgeneration Certification Scheme (“MCS”) in order to access the UK Government’s feed in tariff. All microgeneration products must be accredited under MCS in order to be eligible for the UK feed in tariff.
In the December quarter a new MCS standard for electricity led micro combined heat and power units was developed, approved and published. Ceramic Fuel Cells was
instrumental in instigating and promoting this new standard which is an essential
requirement for accreditation under MCS. The existing standards applied to micro heat and power products which maximised heat output. This new standard applies specifically to micro heat and power products whose primary purpose is to generate electricity, with domestic hot water being an additional output. During the December quarter the Company also successfully completed a range of tests required by the MCS.
BlueGen was successfully tested under the PAS67 standard - the British Standards
Institution standard for tests to determine the heating and electrical performance of microcogeneration packages. This testing confirmed that BlueGen provides hot water for domestic use as well as significantly reducing net carbon emissions when compared to a modern condensing gas boiler and electricity from the UK grid. BlueGen was also tested by an independent body for its noise output.
In December the MCS auditor, BRE Global, conducted a factory assessment at Ceramic
Fuel Cells’ production facility in Melbourne. The Company expects the review of the data provided during this site visit to be completed during the March quarter, and additional procedures to be implemented during the June quarter in order for BlueGen to be formally accredited under MCS.
During the half-year (2010) the Company continued to make progress towards having BlueGen certified under the Microgeneration Certification Scheme (“MCS”) in order to access the UK Government’s feed in tariff. All microgeneration products must be accredited under MCS in order to be eligible for the UK feed in tariff.
In the December quarter a new MCS standard for electricity led micro combined heat and power units was developed, approved and published. Ceramic Fuel Cells was
instrumental in instigating and promoting this new standard which is an essential
requirement for accreditation under MCS. The existing standards applied to micro heat and power products which maximised heat output. This new standard applies specifically to micro heat and power products whose primary purpose is to generate electricity, with domestic hot water being an additional output. During the December quarter the Company also successfully completed a range of tests required by the MCS.
BlueGen was successfully tested under the PAS67 standard - the British Standards
Institution standard for tests to determine the heating and electrical performance of microcogeneration packages. This testing confirmed that BlueGen provides hot water for domestic use as well as significantly reducing net carbon emissions when compared to a modern condensing gas boiler and electricity from the UK grid. BlueGen was also tested by an independent body for its noise output.
In December the MCS auditor, BRE Global, conducted a factory assessment at Ceramic
Fuel Cells’ production facility in Melbourne. The Company expects the review of the data provided during this site visit to be completed during the March quarter, and additional procedures to be implemented during the June quarter in order for BlueGen to be formally accredited under MCS.
Ceramic Fuel Cells Limited Highlights Of 2010
Financing Activities
In August 2010 the Company undertook a placement of 95.3m shares at a price of 10.5 pence (approximately 18.25 Australian cents) and raised the equivalent of AUD 17.4m. In September 2010 the Company made an offer to shareholders on the same terms and issued a further 70.3m shares and raised an additional AUD 12.8m. The net amount raised from both fundraising rounds after transaction costs was AUD 28.9m. During the half-year the Company’s investment in inventory has increased from AUD 1.1m in June 2010 to AUD 4.9m at December 2010. This increase will be directed to fulfilling the existing order backlog and to meet expected future sales.
Operational Overview
Ceramic Fuel Cells Limited is a leader in developing solid oxide fuel cell technology to provide highly efficient and low-emission electricity from widely available natural gas (and other hydrocarbon fuels in the future). A fuel cell is an electricity generator that converts gas into electricity and heat through an electrochemical reaction, without combustion or noise. Fuel cells can provide significant environmental benefits through high efficiency and low emissions.
Global energy markets are facing a transformation. Peak demand for energy is rising, requiring significant investment in new power generation and grid infrastructure. However there is widespread agreement that greenhouse gas emissions from electricity generation must be reduced. These forces create a very large global opportunity for low-emission energy technology, like solid oxide fuel cells, which can be deployed using the existing natural gas and electricity infrastructure. These market forces also encourage a move away from large centralised power stations towards ‘distributed generation’, where small scale power stations are installed close to where the power is used, with no transmission losses.
Ceramic Fuel Cells’ products have achieved electrical efficiency of 60 percent at the point of use, which the Directors believe is higher than any other electricity generating technology. When heat is recovered from the electricity production process, total efficiency is up to 85 percent – twice as efficient as the average among current European power stations.
This very high efficiency can significantly cut carbon emissions from power generation. There is now widespread recognition that maximising electrical efficiency is the key to creating the most value from small scale power and heating products, and the Directors believe the Company’s achievements can create a strong competitive advantage in this very large global market.
Customers and Products
The first products powered by the Company’s fuel cells are small scale units for homes and other buildings that produce up to two kilowatts of electricity as well as heat for hot water or space heating. In order to cater for different markets and customers, the Company is developing two products in parallel: integrated combined heat and power (mCHP) units, as well as a modular generator product called BlueGen. Both products use the Company’s Gennex fuel cell module and share many ‘balance of plant’ components, allowing the Company and its partners to create different products and customer offerings from the same core technology platform.
Integrated mCHP – Power + Heating + Hot Water
During the half-year the Company continued to develop fully integrated mCHP products with its European utility and appliance partners, including EWE AG in Germany, E.ON in the United Kingdom and GDF SUEZ in France. In these partnerships, Ceramic Fuel Cells supplies its Gennex fuel cell modules to appliance partners, which integrate them with high efficiency boilers into single integrated units to convert natural gas into power, hot water and space heating for homes. The appliance manufacturer or the utility then sells or leases the mCHP unit to the homeowner.
The highlight of the half-year was the Company securing a conditional order in December 2010 for up to 200 integrated mCHP products from German energy service provider EWE. This is the largest order the Company has received, with total revenue of up to EUR 4.9 million over two years. EWE will install the units in homes in the Lower Saxony region in northern Germany. EWE is one of the largest utilities in Germany, with 6,400 staff and revenues of EUR 5.8 billion. Based in Northern Germany, EWE also has operations in other German states as well as Poland and Turkey.
The order is conditional on EWE receiving partial funding under the German
government’s national hydrogen and fuel cell technology innovation program. This
Government program is providing EUR 700 million between 2008 and 2018. EWE has
submitted a formal funding application and a positive decision is expected in early 2011. Subject to EWE obtaining Government funding and to the units meeting agreed performance targets, EWE will order 70 units for delivery in 2011 and 130 units for delivery in 2012. The performance targets, unit prices and the rates for ongoing service and support have been agreed in a contract signed by EWE and the Company.
This is a significant follow-on order from EWE, the Company’s longest standing utility customer. The Directors are confident that the German government will support the project and we look forward to updating shareholders in due course. Apart from Germany, during the half-year the Company continued to operate integrated power and heating units in the United Kingdom and France. In the United Kingdom, the Company is in discussions with its utility partner E.ON UK to
finalise the details of the next stage of product deployment. In February 2009 the Company and E.ON agreed the profile of a future volume order for mCHP units. Subject to the Company meeting agreed price and performance targets, E.ON UK will place a minimum order of 100,000 units from 2012-2018 in order to retain exclusivity for Ceramic Fuel Cells’ mCHP products in the UK market.
In France the Company is working with GDF SUEZ, one of the world’s largest diversified energy utilities and the dominant gas utility in France (with 11 million customers in France). The Company has successfully built and operated integrated units with GDF SUEZ and its appliance partner De Dietrich Thermique (now part of the BDR Thermea group). In December 2010 the partners agreed to the next stage of the product rollout, in which Ceramic Fuel Cells and BDR Thermea will build the next generation of product for testing by GDF SUEZ. This version of the product will use the same core Ceramic Fuel Cells components, which BDR Thermea will tightly integrate with a high efficiency boiler into a physically smaller unit.
BlueGen sales – Power + Hot Water
Apart from the integrated product, the Company has also developed a modular power and heat generator called BlueGen, to provide low emission power plus heat for hot water. One BlueGen can provide about double the electricity the average home needs – excess power can be exported to the grid – plus hot water for an average family’s needs. Like the integrated product, BlueGen uses the Company’s Gennex fuel cell module to achieve electrical efficiency of 60 percent – far higher than any other small scale electricity generator.
During the half-year the Company continued to receive orders for BlueGen units from leading energy companies and other foundation customers. To date the Company has received orders for 63 BlueGen units, from customers in Germany, Switzerland, the United Kingdom, The Netherlands, Italy, Japan, Australia and the USA. A total of 21 BlueGen units are installed and operating in customers’ sites.
Highlights during the half-year and up to date include:
The Company has sold its first BlueGen units in Italy, to leading energy company Edison S.p.A. Edison will install one BlueGen unit at its test laboratory and then at its headquarters in Milan, and will install two further units with customers when modifications to the unit’s power management system are completed to comply with Italian grid requirements. Edison is one of Italy’s leading electricity and gas companies, with 2009 revenues of EUR 9 billion.
In December the Company sold three BlueGen units to E.ON UK. One BlueGen will be
installed in early 2011 at the E.ON training centre in Tipton, where E.ON’s Property Services department trains its staff in the installation and maintenance of gas and electrical appliances. The other two BlueGen units will be installed at demonstration sites. The Company believes that the BlueGen installation at the E.ON training centre will be particularly beneficial. Having a well trained network of installers and service technicians is critical to deploying BlueGens and integrated mCHP products in larger volumes, and to receiving accreditation in order to access the UK feed in tariff. During the half-year the Company received further orders from leading Germany energy companies, including EIFER (the European Institute for Energy Research) and EnBW, the third largest utility in Germany, and Gasag, based in Berlin. BlueGen has been accredited by the relevant German Government authority (BAFA) and BlueGen customers in Germany are now eligible to receive the feed in tariff for small power and heating products
In August 2010 the Company undertook a placement of 95.3m shares at a price of 10.5 pence (approximately 18.25 Australian cents) and raised the equivalent of AUD 17.4m. In September 2010 the Company made an offer to shareholders on the same terms and issued a further 70.3m shares and raised an additional AUD 12.8m. The net amount raised from both fundraising rounds after transaction costs was AUD 28.9m. During the half-year the Company’s investment in inventory has increased from AUD 1.1m in June 2010 to AUD 4.9m at December 2010. This increase will be directed to fulfilling the existing order backlog and to meet expected future sales.
Operational Overview
Ceramic Fuel Cells Limited is a leader in developing solid oxide fuel cell technology to provide highly efficient and low-emission electricity from widely available natural gas (and other hydrocarbon fuels in the future). A fuel cell is an electricity generator that converts gas into electricity and heat through an electrochemical reaction, without combustion or noise. Fuel cells can provide significant environmental benefits through high efficiency and low emissions.
Global energy markets are facing a transformation. Peak demand for energy is rising, requiring significant investment in new power generation and grid infrastructure. However there is widespread agreement that greenhouse gas emissions from electricity generation must be reduced. These forces create a very large global opportunity for low-emission energy technology, like solid oxide fuel cells, which can be deployed using the existing natural gas and electricity infrastructure. These market forces also encourage a move away from large centralised power stations towards ‘distributed generation’, where small scale power stations are installed close to where the power is used, with no transmission losses.
Ceramic Fuel Cells’ products have achieved electrical efficiency of 60 percent at the point of use, which the Directors believe is higher than any other electricity generating technology. When heat is recovered from the electricity production process, total efficiency is up to 85 percent – twice as efficient as the average among current European power stations.
This very high efficiency can significantly cut carbon emissions from power generation. There is now widespread recognition that maximising electrical efficiency is the key to creating the most value from small scale power and heating products, and the Directors believe the Company’s achievements can create a strong competitive advantage in this very large global market.
Customers and Products
The first products powered by the Company’s fuel cells are small scale units for homes and other buildings that produce up to two kilowatts of electricity as well as heat for hot water or space heating. In order to cater for different markets and customers, the Company is developing two products in parallel: integrated combined heat and power (mCHP) units, as well as a modular generator product called BlueGen. Both products use the Company’s Gennex fuel cell module and share many ‘balance of plant’ components, allowing the Company and its partners to create different products and customer offerings from the same core technology platform.
Integrated mCHP – Power + Heating + Hot Water
During the half-year the Company continued to develop fully integrated mCHP products with its European utility and appliance partners, including EWE AG in Germany, E.ON in the United Kingdom and GDF SUEZ in France. In these partnerships, Ceramic Fuel Cells supplies its Gennex fuel cell modules to appliance partners, which integrate them with high efficiency boilers into single integrated units to convert natural gas into power, hot water and space heating for homes. The appliance manufacturer or the utility then sells or leases the mCHP unit to the homeowner.
The highlight of the half-year was the Company securing a conditional order in December 2010 for up to 200 integrated mCHP products from German energy service provider EWE. This is the largest order the Company has received, with total revenue of up to EUR 4.9 million over two years. EWE will install the units in homes in the Lower Saxony region in northern Germany. EWE is one of the largest utilities in Germany, with 6,400 staff and revenues of EUR 5.8 billion. Based in Northern Germany, EWE also has operations in other German states as well as Poland and Turkey.
The order is conditional on EWE receiving partial funding under the German
government’s national hydrogen and fuel cell technology innovation program. This
Government program is providing EUR 700 million between 2008 and 2018. EWE has
submitted a formal funding application and a positive decision is expected in early 2011. Subject to EWE obtaining Government funding and to the units meeting agreed performance targets, EWE will order 70 units for delivery in 2011 and 130 units for delivery in 2012. The performance targets, unit prices and the rates for ongoing service and support have been agreed in a contract signed by EWE and the Company.
This is a significant follow-on order from EWE, the Company’s longest standing utility customer. The Directors are confident that the German government will support the project and we look forward to updating shareholders in due course. Apart from Germany, during the half-year the Company continued to operate integrated power and heating units in the United Kingdom and France. In the United Kingdom, the Company is in discussions with its utility partner E.ON UK to
finalise the details of the next stage of product deployment. In February 2009 the Company and E.ON agreed the profile of a future volume order for mCHP units. Subject to the Company meeting agreed price and performance targets, E.ON UK will place a minimum order of 100,000 units from 2012-2018 in order to retain exclusivity for Ceramic Fuel Cells’ mCHP products in the UK market.
In France the Company is working with GDF SUEZ, one of the world’s largest diversified energy utilities and the dominant gas utility in France (with 11 million customers in France). The Company has successfully built and operated integrated units with GDF SUEZ and its appliance partner De Dietrich Thermique (now part of the BDR Thermea group). In December 2010 the partners agreed to the next stage of the product rollout, in which Ceramic Fuel Cells and BDR Thermea will build the next generation of product for testing by GDF SUEZ. This version of the product will use the same core Ceramic Fuel Cells components, which BDR Thermea will tightly integrate with a high efficiency boiler into a physically smaller unit.
BlueGen sales – Power + Hot Water
Apart from the integrated product, the Company has also developed a modular power and heat generator called BlueGen, to provide low emission power plus heat for hot water. One BlueGen can provide about double the electricity the average home needs – excess power can be exported to the grid – plus hot water for an average family’s needs. Like the integrated product, BlueGen uses the Company’s Gennex fuel cell module to achieve electrical efficiency of 60 percent – far higher than any other small scale electricity generator.
During the half-year the Company continued to receive orders for BlueGen units from leading energy companies and other foundation customers. To date the Company has received orders for 63 BlueGen units, from customers in Germany, Switzerland, the United Kingdom, The Netherlands, Italy, Japan, Australia and the USA. A total of 21 BlueGen units are installed and operating in customers’ sites.
Highlights during the half-year and up to date include:
The Company has sold its first BlueGen units in Italy, to leading energy company Edison S.p.A. Edison will install one BlueGen unit at its test laboratory and then at its headquarters in Milan, and will install two further units with customers when modifications to the unit’s power management system are completed to comply with Italian grid requirements. Edison is one of Italy’s leading electricity and gas companies, with 2009 revenues of EUR 9 billion.
In December the Company sold three BlueGen units to E.ON UK. One BlueGen will be
installed in early 2011 at the E.ON training centre in Tipton, where E.ON’s Property Services department trains its staff in the installation and maintenance of gas and electrical appliances. The other two BlueGen units will be installed at demonstration sites. The Company believes that the BlueGen installation at the E.ON training centre will be particularly beneficial. Having a well trained network of installers and service technicians is critical to deploying BlueGens and integrated mCHP products in larger volumes, and to receiving accreditation in order to access the UK feed in tariff. During the half-year the Company received further orders from leading Germany energy companies, including EIFER (the European Institute for Energy Research) and EnBW, the third largest utility in Germany, and Gasag, based in Berlin. BlueGen has been accredited by the relevant German Government authority (BAFA) and BlueGen customers in Germany are now eligible to receive the feed in tariff for small power and heating products
Feb 17 (Reuters) - Power Assets Holdings Ltd (0006.HK) is considering a 3.5 billion pound ($5.6 billion) bid for British power network assets of Germany's E.ON AG's (EONGn.DE) (EONG.AS), although no decision has been made, local newspapers reported on Thursday.
The company, part of the business empire of tycoon Li Ka-shing, changed its name from Hongkong Electric Holdings Ltd on Wednesday to reflect the growing importance of its overseas business, including a stake in Britain's second-largest power grid.
Managing director Tso Kai-sum said the company, controlled by Cheung Kong Infrastructure Holdings Ltd (CKI) (1038.HK), "was studying bidding documents", the South China Morning Post reported.
Tso declined to say whether it would team up with CKI to bid for the assets. Power Assets and CKI are both under Li's ports-to-telecoms conglomerate Hutchison Whampoa Ltd (0013.HK). They teamed up last year to buy EDF Energy. Plc's (EDF.PA) British network for 5.775 billion pounds.
Li was one of more than two bidders still in the race for the asset and E.ON was keen to complete the transaction in the first quarter, a source familiar with the deal told Reuters last month. [ID:nTOE70N024] (Reporting by Alison Leung; Editing by Chris Lewis)
The company, part of the business empire of tycoon Li Ka-shing, changed its name from Hongkong Electric Holdings Ltd on Wednesday to reflect the growing importance of its overseas business, including a stake in Britain's second-largest power grid.
Managing director Tso Kai-sum said the company, controlled by Cheung Kong Infrastructure Holdings Ltd (CKI) (1038.HK), "was studying bidding documents", the South China Morning Post reported.
Tso declined to say whether it would team up with CKI to bid for the assets. Power Assets and CKI are both under Li's ports-to-telecoms conglomerate Hutchison Whampoa Ltd (0013.HK). They teamed up last year to buy EDF Energy. Plc's (EDF.PA) British network for 5.775 billion pounds.
Li was one of more than two bidders still in the race for the asset and E.ON was keen to complete the transaction in the first quarter, a source familiar with the deal told Reuters last month. [ID:nTOE70N024] (Reporting by Alison Leung; Editing by Chris Lewis)
Offshore Wind Farm in UK begins generating power from its first turbine
Walney Offshore Wind Farm, located 15km west of Barrow-in-Furness in Cumbria, UK, began generating power from its first turbine in January 2011. The turbine is connected to the national grid through an offshore transformer at Heysham.
The project consists of 102 turbines being installed in two phases, Walney I and Walney II. Estimated at £1bn, the project will deliver 367.2MW of combined energy sufficient to power more than 320,000 households in UK.
It is owned by Dong Energy (50.1%), Scottish and Southern Energy (SSE-25.1%) and a consortium of PGGM and Dutch Ampère Equity Fund (24.8%).
Dong Energy is the leading partner and operator of the wind farm. It has signed a 15-year long term power purchase agreement (PPA) with the consortium of PGGM and Dutch Ampère Equity Fund for the purchase of the consortium's share of electricity from the project.
The company plans to sell power purchased from the consortium and the environmental benefits received from the British Government in the local market.
Plant details
Walney is being constructed along a north-west to south-east direction. It will cover an area of approximately 73km².
Walney I and II will each have 51 Siemens turbines with a rated capacity of 3.6MW. The turbines will be 749m-958m apart and installed in rows.
Turbines installed at Walney I will have a rotor diameter of 107m and are 137m tall to the tip of the blade.
Walney II will have turbines with a rotor diameter of 120m. They will have a maximum height of 150m to the centre of the hub.
The turbine arrays will be connected by underwater sea cables to an offshore substation where the voltage will be stepped up from 34kV to 132kV before being exported to an onshore substation.
"Dong Energy is the leading partner and operator of the wind farm."
Development
The project was initially 100% owned by Dong Energy. In December 2009 SSE acquired 25.1% share in the project, which was followed by a consortium of PGGM and Dutch Ampère Equity Fund acquiring 24.8% in December 2010.
The consortium paid £16m to acquire the share. It will also share the project construction cost on a pro-rata basis. The purchase price, however, did not include payment for transmission assets which will be owned by a separate operator in future.
Dong Energy will provide interim finance to the consortium for their share of the construction cost. PGGM / Dutch Ampère Equity Fund will provide external financing to Dong Energy upon completion of the project.
Construction
Construction of Walney I commenced in March 2010. The monopiles were laid by jack-up vessels Vagant and Goliath operated by Belgium-based GeoSea.
The first monopole was installed in April 2010. The export cable was shipped to the site at the same time.
The monopiles are placed 30m deep into the seabed. Each monopile is 56m tall and weighs 550t.
The Walney I offshore substation was placed within the wind farm area. It weighs 1,100t and was erected in June 2010.
Seajacks Kraken and Seajacks Leviathan owned by Seajacks UK have been contracted for the turbine installations in Walney I and Walney II respectively. Sea Worker, a jack-up barge operated by A2Sea, has already installed five wind turbines at the site.
The first turbine was installed in July 2010. It is now generating power for the national grid. All the turbines of Walney I had been installed by December 2010.
The construction vessel Pompei is placing stones at a radius of 15m around the foundation to mark the cable and turbine installation positions.
Walney II is scheduled to begin installations in March 2011. It is expected to come online by the end of the year.
The turbines in Walney II will be placed 25m-30m deep, which will require longer and heavier monopiles weighing up to 800t.
Onshore cabling work is underway in Cleveleys near Blackpool.
Power generated by Walney II will be brought onshore in front of Thornton gate through a 132kV underwater cable. It will be connected to a new substation which is currently under construction along the route to Hill House Industrial Estate.
The cargo ship Annette owned by SAL was contracted to deliver the monopoles to the site.
Stemat 82, a cable installation vessel, is being used to install the array cables in the seabed. The cables are placed in the J-tube and protected with a layer of rocks to prevent scouring.
Walney Wind Farm contractors
Seabed Power was awarded the contract for transporting and installing more than 92km of 33kV array cables for Walney I. The cables were supplied by the nkt cables group.
"Dong Energy plans to extend the Walney offshore wind farm by a further 750MW."
Seabed Power was also responsible for laying 44km and 43km of 132kV export cables in two different routes. The cables were supplied by Prysmian Group in a €24.5m contract. Prysmian was also awarded a €18m contract to supply similar 132kV cables for Walney II.
The offshore substation steel structures and jackets were contracted to Bladt Industries in 2009. The first set for Walney I was delivered in May 2010 while the second set is underway construction.
The aluminium hydraulic cylinders were manufactured by Holmatro.
Powerstream Electrical Services built the onshore substation at Heysham in a contract worth $1.1m in June 2010.
Other major contractors to Walney I are EEW-Special Pipes Construction (SPC) Rostock for the manufacture of 51 monopiles, Visser & Smit Marine Contracting (VSMC) for the Stemat 82 cable lay vessel, Tekmar Solutions for a cable protection system, Proserv Offshore for cleaning of the marine growth around the pile and Ledsham for the construction of an 11kV substation for Siemens.
Walney II contractors include A2Sea and Ballast Nedam for installation of the foundations, Norway-based Draka Norsk Kabel (DNK) for installing the inter-array cables and associated logistics and Offshore Marine Management (OMM) for termination and testing of inter-array cables.
Dong Energy signed an agreement with Associated British Ports (ABP) to use 18 acres of the Barrow area for handling essential components of the wind turbines during construction.
Audit of the barge and tugs used in the project is being carried by Specialist Marine Consultants.
NIRAS was contracted for a number of consultation works related to the project, including geophysical surveys, management of installations, logistics planning and so on.
Future
Dong Energy plans to extend the Walney offshore wind farm by a further 750MW. The company signed a lease agreement with the Crown Estate in May 2010. The proposal is expected to be submitted for planning consent in 2013.
The extension is expected to cover an area of 145km². It will include one offshore substation, 33kV array cables, three core underwater offshore cables and an onshore connection point at either Heysham, Stanah or Penwortham substation.
The project consists of 102 turbines being installed in two phases, Walney I and Walney II. Estimated at £1bn, the project will deliver 367.2MW of combined energy sufficient to power more than 320,000 households in UK.
It is owned by Dong Energy (50.1%), Scottish and Southern Energy (SSE-25.1%) and a consortium of PGGM and Dutch Ampère Equity Fund (24.8%).
Dong Energy is the leading partner and operator of the wind farm. It has signed a 15-year long term power purchase agreement (PPA) with the consortium of PGGM and Dutch Ampère Equity Fund for the purchase of the consortium's share of electricity from the project.
The company plans to sell power purchased from the consortium and the environmental benefits received from the British Government in the local market.
Plant details
Walney is being constructed along a north-west to south-east direction. It will cover an area of approximately 73km².
Walney I and II will each have 51 Siemens turbines with a rated capacity of 3.6MW. The turbines will be 749m-958m apart and installed in rows.
Turbines installed at Walney I will have a rotor diameter of 107m and are 137m tall to the tip of the blade.
Walney II will have turbines with a rotor diameter of 120m. They will have a maximum height of 150m to the centre of the hub.
The turbine arrays will be connected by underwater sea cables to an offshore substation where the voltage will be stepped up from 34kV to 132kV before being exported to an onshore substation.
"Dong Energy is the leading partner and operator of the wind farm."
Development
The project was initially 100% owned by Dong Energy. In December 2009 SSE acquired 25.1% share in the project, which was followed by a consortium of PGGM and Dutch Ampère Equity Fund acquiring 24.8% in December 2010.
The consortium paid £16m to acquire the share. It will also share the project construction cost on a pro-rata basis. The purchase price, however, did not include payment for transmission assets which will be owned by a separate operator in future.
Dong Energy will provide interim finance to the consortium for their share of the construction cost. PGGM / Dutch Ampère Equity Fund will provide external financing to Dong Energy upon completion of the project.
Construction
Construction of Walney I commenced in March 2010. The monopiles were laid by jack-up vessels Vagant and Goliath operated by Belgium-based GeoSea.
The first monopole was installed in April 2010. The export cable was shipped to the site at the same time.
The monopiles are placed 30m deep into the seabed. Each monopile is 56m tall and weighs 550t.
The Walney I offshore substation was placed within the wind farm area. It weighs 1,100t and was erected in June 2010.
Seajacks Kraken and Seajacks Leviathan owned by Seajacks UK have been contracted for the turbine installations in Walney I and Walney II respectively. Sea Worker, a jack-up barge operated by A2Sea, has already installed five wind turbines at the site.
The first turbine was installed in July 2010. It is now generating power for the national grid. All the turbines of Walney I had been installed by December 2010.
The construction vessel Pompei is placing stones at a radius of 15m around the foundation to mark the cable and turbine installation positions.
Walney II is scheduled to begin installations in March 2011. It is expected to come online by the end of the year.
The turbines in Walney II will be placed 25m-30m deep, which will require longer and heavier monopiles weighing up to 800t.
Onshore cabling work is underway in Cleveleys near Blackpool.
Power generated by Walney II will be brought onshore in front of Thornton gate through a 132kV underwater cable. It will be connected to a new substation which is currently under construction along the route to Hill House Industrial Estate.
The cargo ship Annette owned by SAL was contracted to deliver the monopoles to the site.
Stemat 82, a cable installation vessel, is being used to install the array cables in the seabed. The cables are placed in the J-tube and protected with a layer of rocks to prevent scouring.
Walney Wind Farm contractors
Seabed Power was awarded the contract for transporting and installing more than 92km of 33kV array cables for Walney I. The cables were supplied by the nkt cables group.
"Dong Energy plans to extend the Walney offshore wind farm by a further 750MW."
Seabed Power was also responsible for laying 44km and 43km of 132kV export cables in two different routes. The cables were supplied by Prysmian Group in a €24.5m contract. Prysmian was also awarded a €18m contract to supply similar 132kV cables for Walney II.
The offshore substation steel structures and jackets were contracted to Bladt Industries in 2009. The first set for Walney I was delivered in May 2010 while the second set is underway construction.
The aluminium hydraulic cylinders were manufactured by Holmatro.
Powerstream Electrical Services built the onshore substation at Heysham in a contract worth $1.1m in June 2010.
Other major contractors to Walney I are EEW-Special Pipes Construction (SPC) Rostock for the manufacture of 51 monopiles, Visser & Smit Marine Contracting (VSMC) for the Stemat 82 cable lay vessel, Tekmar Solutions for a cable protection system, Proserv Offshore for cleaning of the marine growth around the pile and Ledsham for the construction of an 11kV substation for Siemens.
Walney II contractors include A2Sea and Ballast Nedam for installation of the foundations, Norway-based Draka Norsk Kabel (DNK) for installing the inter-array cables and associated logistics and Offshore Marine Management (OMM) for termination and testing of inter-array cables.
Dong Energy signed an agreement with Associated British Ports (ABP) to use 18 acres of the Barrow area for handling essential components of the wind turbines during construction.
Audit of the barge and tugs used in the project is being carried by Specialist Marine Consultants.
NIRAS was contracted for a number of consultation works related to the project, including geophysical surveys, management of installations, logistics planning and so on.
Future
Dong Energy plans to extend the Walney offshore wind farm by a further 750MW. The company signed a lease agreement with the Crown Estate in May 2010. The proposal is expected to be submitted for planning consent in 2013.
The extension is expected to cover an area of 145km². It will include one offshore substation, 33kV array cables, three core underwater offshore cables and an onshore connection point at either Heysham, Stanah or Penwortham substation.
In 2010, wind energy competitiveness greatly increased
The cost of wind turbines on the main international wind farm markets fell below one million euro per MW, which is the lowest wind power generation cost that was ever registered.
Oversupply and increased manufacturing efficiency. According to the most recent edition of the Wind Turbine Price Index published by Bloomberg New Energy Finance, this is why in 2010 all major wind farm markets registered a sharp fall in prices of onshore wind turbines.
The Bloomberg NE index examined more than 150 sale contracts of onshore wind turbines, for a total of nearly 7,000 MW in 28 countries around the world, focusing on Europe and the Americas. It was found that in the first half of the year the average price of wind turbines for the buyer was 980,000 €/MW (with peaks of 900,000), recording a 7% decrease over the previous year and a 19% drop compared with the peak reached in 2007-2008.
Specifically, UK, USA and Italy benefited the most from the reduced cost of wind turbines.
According to Bloomberg NE, wind energy generation cost has currently reached its all-time lowest point. In a number of wind installations located in areas with excellent wind conditions (in the US, Sweden, Mexico and Brazil), the current cost of generated energy (including capital and maintenance costs and excluding the effect of incentives ) roughly amounts to $68 per MWh (50 €). For comparison, according to Bloomberg updated average cost of coal power plants amounts to $67 per MWh and $56 MWh for gas-fired plants.
Dropping wind turbine prices may be uncomfortable for manufacturers, but it is good news for wind farm project developers and it further improves the cost-competitiveness of wind energy compared with gas and coal. The main conclusions of the analysis are:
• Global turbine contracts signed in late 2010 for delivery in H1 2011 and H2 2011 display very aggressive pricing, with average values at €0.98m/MW ($1.33m/MW). This is a 7% decrease compared to contracts signed in 2009 (€1.06m/MW) and 19% down from peak values in 2007-08 (€1.21m/MW).
• The decrease in the Wind Turbine Price Index is partly driven by a larger proportion of US based contracts compared to the previous issue of the Index (July 2010), but pricing remains aggressive in all parts of the world.
• Low-priced power-purchase-agreements in markets with exposure to electricity prices – rather than fixed feed-in tariffs – seem to have put further pressure on turbine contracts: Italy, the UK and the US all display average pricing well below €1m/MW for contracts signed in 2010 for delivery in H2 2011. The US presents the lowest pricing of all markets so far with values averaging $1.27m/MW (€0.93/MW).
• All manufacturers covered by the survey have displayed aggressive pricing, including several contracts for leading ("Tier 1") manufacturers – in some cases below €0.90m/MW ($1.22m/MW).
• The cost of electricity generated from wind power is now at record lows: several wind farm projects in high resource areas (US, Brazil, Sweden, Mexico) display a levelised cost of energy – excluding the impact of subsidies but after including the cost of capital and maintenance – below EUR 50/MWh ($68/MWh). This compares to current estimated average costs of $67 per MWh for coal-fired power and $56 per MWh for gas-fired power.
• Onshore turbine prices per MW of capacity are now for the first time lower than they were before the surge in steel and other commodity prices. The levelised cost of wind power has been driven down not only by lower turbine costs, but also by higher yields per MW of capacity.
• Procurement officers for the developers in the survey expect prices to stabilise around current levels for 2011 and 2012, with few further reductions in the near term. They expect gradual increases in pricing from 2012–13 as global demand recovers.
The Bloomberg New Energy Finance Wind Turbine Price Index includes the cost of turbines, as well as transport to site (marine and overland) but excludes VAT, construction and connection costs.
Michael Liebreich, chief executive of Bloomberg New Energy Finance, commented: “The latest edition of our Wind Turbine Price Index shows wind continuing to become a competitive source of large-scale power. For the past few years, wind turbine costs went up due to rising demand around the world and the increasing price of steel. Behind the scenes wind manufacturers were reducing their costs, and now we are seeing just how cheap wind energy can be when overcapacity in the supply chain works its way through to developers."
http://bnef.com
Oversupply and increased manufacturing efficiency. According to the most recent edition of the Wind Turbine Price Index published by Bloomberg New Energy Finance, this is why in 2010 all major wind farm markets registered a sharp fall in prices of onshore wind turbines.
The Bloomberg NE index examined more than 150 sale contracts of onshore wind turbines, for a total of nearly 7,000 MW in 28 countries around the world, focusing on Europe and the Americas. It was found that in the first half of the year the average price of wind turbines for the buyer was 980,000 €/MW (with peaks of 900,000), recording a 7% decrease over the previous year and a 19% drop compared with the peak reached in 2007-2008.
Specifically, UK, USA and Italy benefited the most from the reduced cost of wind turbines.
According to Bloomberg NE, wind energy generation cost has currently reached its all-time lowest point. In a number of wind installations located in areas with excellent wind conditions (in the US, Sweden, Mexico and Brazil), the current cost of generated energy (including capital and maintenance costs and excluding the effect of incentives ) roughly amounts to $68 per MWh (50 €). For comparison, according to Bloomberg updated average cost of coal power plants amounts to $67 per MWh and $56 MWh for gas-fired plants.
Dropping wind turbine prices may be uncomfortable for manufacturers, but it is good news for wind farm project developers and it further improves the cost-competitiveness of wind energy compared with gas and coal. The main conclusions of the analysis are:
• Global turbine contracts signed in late 2010 for delivery in H1 2011 and H2 2011 display very aggressive pricing, with average values at €0.98m/MW ($1.33m/MW). This is a 7% decrease compared to contracts signed in 2009 (€1.06m/MW) and 19% down from peak values in 2007-08 (€1.21m/MW).
• The decrease in the Wind Turbine Price Index is partly driven by a larger proportion of US based contracts compared to the previous issue of the Index (July 2010), but pricing remains aggressive in all parts of the world.
• Low-priced power-purchase-agreements in markets with exposure to electricity prices – rather than fixed feed-in tariffs – seem to have put further pressure on turbine contracts: Italy, the UK and the US all display average pricing well below €1m/MW for contracts signed in 2010 for delivery in H2 2011. The US presents the lowest pricing of all markets so far with values averaging $1.27m/MW (€0.93/MW).
• All manufacturers covered by the survey have displayed aggressive pricing, including several contracts for leading ("Tier 1") manufacturers – in some cases below €0.90m/MW ($1.22m/MW).
• The cost of electricity generated from wind power is now at record lows: several wind farm projects in high resource areas (US, Brazil, Sweden, Mexico) display a levelised cost of energy – excluding the impact of subsidies but after including the cost of capital and maintenance – below EUR 50/MWh ($68/MWh). This compares to current estimated average costs of $67 per MWh for coal-fired power and $56 per MWh for gas-fired power.
• Onshore turbine prices per MW of capacity are now for the first time lower than they were before the surge in steel and other commodity prices. The levelised cost of wind power has been driven down not only by lower turbine costs, but also by higher yields per MW of capacity.
• Procurement officers for the developers in the survey expect prices to stabilise around current levels for 2011 and 2012, with few further reductions in the near term. They expect gradual increases in pricing from 2012–13 as global demand recovers.
The Bloomberg New Energy Finance Wind Turbine Price Index includes the cost of turbines, as well as transport to site (marine and overland) but excludes VAT, construction and connection costs.
Michael Liebreich, chief executive of Bloomberg New Energy Finance, commented: “The latest edition of our Wind Turbine Price Index shows wind continuing to become a competitive source of large-scale power. For the past few years, wind turbine costs went up due to rising demand around the world and the increasing price of steel. Behind the scenes wind manufacturers were reducing their costs, and now we are seeing just how cheap wind energy can be when overcapacity in the supply chain works its way through to developers."
http://bnef.com
Saturday 19 February 2011
Ceramic Fuel Cells Limited Interim Results Half Year to 31 December 2011
FY11 Half Year to 31 December 2010
Revenue: A$ 927k / £ 580k
• Switch from FY10 lumpy m-CHP ‘project’income to FY11 BlueGen product sales
• Revenue from mCHP product expected to increase in coming periods
• Backlog of contracted but unrecognised orders of A$ 8.8m / £5.5m (includes EWE order)
Net operating cash outflow: A$7.3m / £ 4.6m
• Higher in December quarter as inventory built up Other significant cash flow items
• Capex A$ 0.9m / £0.5m
• Financing, including fundraising –net cash inflow of A$ 28.9m / £18.1m
Net loss: A$(8.4)m / £(5.2)m
• Operational EBIT A$(10.1)m / £(6.3)m
• FX translation loss –A$(2.4)m / £(1.5)m –from appreciation of AUD
• Other income –legal settlement A$ 3.9m / £2.4m
BlueGen sales were the dominant source of revenue in this half year
• Product sales revenue replacing lumpy ‘project’ based revenue ƒ
Sales process is getting simpler, shorter and faster
• Additional local EU sales resources ƒ
• Appointing local installation and service agents ƒ
Utilities are taking the opportunity seriously
• 15 energy utilities are currently testing and demonstrating BlueGen ƒ
• Order backlog currently 241 units
Developing products with leading partners:
Germany EWE ƒ
France GdFSUEZ ƒ
UK EON UK ƒ
December 2010, order from EWE for up to 200 units
• Total revenue of up to EUR 4.9m / AUD 6.6m over 2 years ƒ
• Largest product order the Company has received, significant ƒ
follow-on order from EWE
• Conditional on part-funding from German Government
BlueGen received full CE approval, April 2011
• “Type” approval – applies to all BlueGen products(not a limited “field trial” approval)
BlueGen received full CE approval, April 2010
• “Type”approval –applies to all BlueGen products (not a limited “field trial”approval)
BlueGen approved for German Feed in Tariff, 2010
�
• Approved by German Government authority (BAFA)
MCS certification for UK Feed in Tariff
• New standard written
• Successful test to PAS67 demonstrates BlueGen provides hot water for homes
reduces carbon emissions
• Melbourne site visit December 2010
• Finalising documentation & procedures (early Q2)
Australia:
• Inverter approved by Clean Energy Council (complies with AS4777)
• Currently ‘type B’gas appliance, working on type A approval (as an ordinary gas appliance)
Operating Results
During the half-year the Company’s ‘Revenue from continuing operations’ decreased from AUD 1.5m to AUD 0.9m, however in contrast to previous periods, revenues during this period were primarily from actual product sales. Up until recently, most revenue has been earned from the Company’s utility partners in Germany, France and the United Kingdom for designing, developing and installing integrated mCHP products. This revenue has tended to be large and “one off” in nature, whereas the Company now foresees smoother revenue streams as sales of its BlueGen product increase substantially during 2011. Accordingly in the current half-year the majority of revenue has been earned from BlueGen sales.
The Company expects revenue from the integrated product to increase in the coming
year, particularly as a result of the order for up to 200 units placed by EWE in December 2010.
In accordance with accounting standards, the Company recognises revenue on BlueGen
sales when the unit is installed at the Customer’s site, and then progressively over the contracted support period. From when the Company signs the order with the Customer until the unit is delivered and installed, the Company has a ‘backlog’ of contracted orders worth AUD 8.8m (including the EWE deal). This amount will be progressively recognised as revenue in the Company’s accounts as the Company delivers these units. The EWE units will be delivered over 24 months.
Other income earned during the period rose from AUD 0.3m to AUD 4.1m. This is due to the settlement of legal action that had been taken against the Company’s former
investment and treasury advisor.
Expenditure on Research and Product Development during the period was AUD 5.8m
which was up by 4.8% on the prior period. The primary activity has been the development of commercial product for market. Expenditure on Sales & Marketing of AUD 0.7m was in line with the prior period.
Expenses relating to the General and Administrative functional area of AUD 4.5m were in line with the prior period however the current period figure included an increase in depreciation of AUD 0.5m relating to the plant in Germany. Excluding depreciation these expenses were down by 11% compared to the prior period.
The current period includes a net foreign exchange loss of AUD 2.4m compared to a
similar loss in the prior period of AUD 2.3m. These losses arise predominantly from the translation of foreign currency cash and investments to Australian dollars. The Group’s policy is to not hedge this foreign currency translation risk (other than the ‘natural’ hedge of holding cash in the same currency as expected expenditure). The translation loss in the current period has arisen from the appreciation of the Australian dollar against the pound sterling (16.2%) and the euro (9.6%).
During the prior half-year the Company disposed of the remaining financial securities that it had held. These securities had been previously treated as impaired and then sold for an amount greater than the book value, which gave rise to a gain last year of AUD 2.9m. No similar transaction has taken place in the current half-year.
Revenue: A$ 927k / £ 580k
• Switch from FY10 lumpy m-CHP ‘project’income to FY11 BlueGen product sales
• Revenue from mCHP product expected to increase in coming periods
• Backlog of contracted but unrecognised orders of A$ 8.8m / £5.5m (includes EWE order)
Net operating cash outflow: A$7.3m / £ 4.6m
• Higher in December quarter as inventory built up Other significant cash flow items
• Capex A$ 0.9m / £0.5m
• Financing, including fundraising –net cash inflow of A$ 28.9m / £18.1m
Net loss: A$(8.4)m / £(5.2)m
• Operational EBIT A$(10.1)m / £(6.3)m
• FX translation loss –A$(2.4)m / £(1.5)m –from appreciation of AUD
• Other income –legal settlement A$ 3.9m / £2.4m
BlueGen sales were the dominant source of revenue in this half year
• Product sales revenue replacing lumpy ‘project’ based revenue ƒ
Sales process is getting simpler, shorter and faster
• Additional local EU sales resources ƒ
• Appointing local installation and service agents ƒ
Utilities are taking the opportunity seriously
• 15 energy utilities are currently testing and demonstrating BlueGen ƒ
• Order backlog currently 241 units
Developing products with leading partners:
Germany EWE ƒ
France GdFSUEZ ƒ
UK EON UK ƒ
December 2010, order from EWE for up to 200 units
• Total revenue of up to EUR 4.9m / AUD 6.6m over 2 years ƒ
• Largest product order the Company has received, significant ƒ
follow-on order from EWE
• Conditional on part-funding from German Government
BlueGen received full CE approval, April 2011
• “Type” approval – applies to all BlueGen products(not a limited “field trial” approval)
BlueGen received full CE approval, April 2010
• “Type”approval –applies to all BlueGen products (not a limited “field trial”approval)
BlueGen approved for German Feed in Tariff, 2010
�
• Approved by German Government authority (BAFA)
MCS certification for UK Feed in Tariff
• New standard written
• Successful test to PAS67 demonstrates BlueGen provides hot water for homes
reduces carbon emissions
• Melbourne site visit December 2010
• Finalising documentation & procedures (early Q2)
Australia:
• Inverter approved by Clean Energy Council (complies with AS4777)
• Currently ‘type B’gas appliance, working on type A approval (as an ordinary gas appliance)
Operating Results
During the half-year the Company’s ‘Revenue from continuing operations’ decreased from AUD 1.5m to AUD 0.9m, however in contrast to previous periods, revenues during this period were primarily from actual product sales. Up until recently, most revenue has been earned from the Company’s utility partners in Germany, France and the United Kingdom for designing, developing and installing integrated mCHP products. This revenue has tended to be large and “one off” in nature, whereas the Company now foresees smoother revenue streams as sales of its BlueGen product increase substantially during 2011. Accordingly in the current half-year the majority of revenue has been earned from BlueGen sales.
The Company expects revenue from the integrated product to increase in the coming
year, particularly as a result of the order for up to 200 units placed by EWE in December 2010.
In accordance with accounting standards, the Company recognises revenue on BlueGen
sales when the unit is installed at the Customer’s site, and then progressively over the contracted support period. From when the Company signs the order with the Customer until the unit is delivered and installed, the Company has a ‘backlog’ of contracted orders worth AUD 8.8m (including the EWE deal). This amount will be progressively recognised as revenue in the Company’s accounts as the Company delivers these units. The EWE units will be delivered over 24 months.
Other income earned during the period rose from AUD 0.3m to AUD 4.1m. This is due to the settlement of legal action that had been taken against the Company’s former
investment and treasury advisor.
Expenditure on Research and Product Development during the period was AUD 5.8m
which was up by 4.8% on the prior period. The primary activity has been the development of commercial product for market. Expenditure on Sales & Marketing of AUD 0.7m was in line with the prior period.
Expenses relating to the General and Administrative functional area of AUD 4.5m were in line with the prior period however the current period figure included an increase in depreciation of AUD 0.5m relating to the plant in Germany. Excluding depreciation these expenses were down by 11% compared to the prior period.
The current period includes a net foreign exchange loss of AUD 2.4m compared to a
similar loss in the prior period of AUD 2.3m. These losses arise predominantly from the translation of foreign currency cash and investments to Australian dollars. The Group’s policy is to not hedge this foreign currency translation risk (other than the ‘natural’ hedge of holding cash in the same currency as expected expenditure). The translation loss in the current period has arisen from the appreciation of the Australian dollar against the pound sterling (16.2%) and the euro (9.6%).
During the prior half-year the Company disposed of the remaining financial securities that it had held. These securities had been previously treated as impaired and then sold for an amount greater than the book value, which gave rise to a gain last year of AUD 2.9m. No similar transaction has taken place in the current half-year.
Ceramic Fuel Cell AG BlueGen Brennstoffzellen-BHKW (14/12/10)
Die Zukunft der Stromgewinnung wird in einem Netzwerk dezentraler Stromerzeugung liegen, bei der Elektrizität nahe beim Verbraucher erzeugt wird. Netzwerke dezentraler Stromerzeugung sind eine Lösung für: wachsenden Strom-bedarf, Grenzen konventioneller Kraftwerke, Leistungsverluste durch Übertragungs- und Verteilungsleitungen und erhebliche Investitionen in die Infrastruktur.
Sowohl heute als auch in Zukunft ist eine sichere und hocheffiziente Stromerzeugung mit erheblich geringeren Treibhausgasemissionen notwendig. BlueGen™ ist die neueste Entwicklung in der festoxidkeramischen Brennstoffzellentechnologie (SOFC), um Elektrizität hocheffizient zu erzeugen.
BlueGen™ verwendet das hochentwickelte Gennex™ Brennstoffzellenmodul und erreicht den höchsten elektrischen Wirkungsgrad in der Welt – 60 % elektrischer Wirkungsgrad netto. Das bedeutet, dass BlueGen™ im Vergleich zu traditionellen Kleingeneratoren bei der gleichen Menge an Brennstoff erheblich mehr Elektrizität produziert.
BlueGen™ ist mit einem integrierten Wämeaustauscher ausgestattet, um die Wärme vom Brennstoffzellenmodul zurückzugewinnen. Ein separater Wassertank (nicht mitgeliefert) kann an das Gerät angeschlossen werden, um den Wirkungsgrad des Gesamtsystems weiter zu erhöhen.
BlueGen™ kann eingebaut werden als:
SSStromerzeugungssystem S- Skeine SWärmerückgewinnung S= Snur SStrom
SSBlockheizkraftwerk - mit Wärmerückgewinnung = Strom und Wärme
Wegen des hohen elektrischen Wirkungsgrades produziert BlueGen™ viel weniger Wärme als andere Stromgeneratoren. Weniger Wärme bedeutet, dass das Gerät eine hohe Jahresauslastung aufweist, und darum mehr hocheffiziente Elektrizität erzeugt, die hilft, CO2 Emissionen zu reduzieren.
Funktionalität
Das BlueGen™ - Gerät kann als alleinstehender Generator oder ferngesteuert betrieben werden. Das Ausgangsleistungsniveau kann angepaßt werden, um verschiedene Stromerzeugungsanforderungen abzudecken – von "konstanter Grundlaststrom"-Erzeugung bis zu voreingestellten "Spitzenlast"-Erzeugungsprofilen. Die verschiedenen Betriebsweisen des BlueGen™ Gerätes:
Aufheizen
• vollautomatisch unter Verwendung der Netzspannung(stromnetzunabhängige Inbetriebnahme nicht möglich)
Selbstversorgung
• Gerät produziert Eigenverbrauch, jedoch ohne Strom zu exportieren (z.B. im Fall einer ausgedehnten Stromnetzstörung)
Energieerzeugung
• Gerät exportiert Strom; Export kann von 0% bis zu 100% reguliert werden
Abkühlung
• Netzspannung verwenden (ca. 36 zu 72 Stunden zur sicheren Abkühlung)
Sowohl heute als auch in Zukunft ist eine sichere und hocheffiziente Stromerzeugung mit erheblich geringeren Treibhausgasemissionen notwendig. BlueGen™ ist die neueste Entwicklung in der festoxidkeramischen Brennstoffzellentechnologie (SOFC), um Elektrizität hocheffizient zu erzeugen.
BlueGen™ verwendet das hochentwickelte Gennex™ Brennstoffzellenmodul und erreicht den höchsten elektrischen Wirkungsgrad in der Welt – 60 % elektrischer Wirkungsgrad netto. Das bedeutet, dass BlueGen™ im Vergleich zu traditionellen Kleingeneratoren bei der gleichen Menge an Brennstoff erheblich mehr Elektrizität produziert.
BlueGen™ ist mit einem integrierten Wämeaustauscher ausgestattet, um die Wärme vom Brennstoffzellenmodul zurückzugewinnen. Ein separater Wassertank (nicht mitgeliefert) kann an das Gerät angeschlossen werden, um den Wirkungsgrad des Gesamtsystems weiter zu erhöhen.
BlueGen™ kann eingebaut werden als:
SSStromerzeugungssystem S- Skeine SWärmerückgewinnung S= Snur SStrom
SSBlockheizkraftwerk - mit Wärmerückgewinnung = Strom und Wärme
Wegen des hohen elektrischen Wirkungsgrades produziert BlueGen™ viel weniger Wärme als andere Stromgeneratoren. Weniger Wärme bedeutet, dass das Gerät eine hohe Jahresauslastung aufweist, und darum mehr hocheffiziente Elektrizität erzeugt, die hilft, CO2 Emissionen zu reduzieren.
Funktionalität
Das BlueGen™ - Gerät kann als alleinstehender Generator oder ferngesteuert betrieben werden. Das Ausgangsleistungsniveau kann angepaßt werden, um verschiedene Stromerzeugungsanforderungen abzudecken – von "konstanter Grundlaststrom"-Erzeugung bis zu voreingestellten "Spitzenlast"-Erzeugungsprofilen. Die verschiedenen Betriebsweisen des BlueGen™ Gerätes:
Aufheizen
• vollautomatisch unter Verwendung der Netzspannung(stromnetzunabhängige Inbetriebnahme nicht möglich)
Selbstversorgung
• Gerät produziert Eigenverbrauch, jedoch ohne Strom zu exportieren (z.B. im Fall einer ausgedehnten Stromnetzstörung)
Energieerzeugung
• Gerät exportiert Strom; Export kann von 0% bis zu 100% reguliert werden
Abkühlung
• Netzspannung verwenden (ca. 36 zu 72 Stunden zur sicheren Abkühlung)
Friday 18 February 2011
Ceramic Fuel Cell Introduce The BlueGen Fuel Cell micro CHP unit
Currently Not Available In The UK until 2012
BlueGen is the latest breakthrough in small scale electricity generation - a modular style fuel cell generator that can be configured to suit a range of different markets and installations. For markets that require an alternative product approach to fully-integrated 'European style' systems, such as Japan, Northern America and Australia - BlueGen™ bridges that gap.
The future of electricity generation will be using a Distributed Generation network, where electricity can be generated and consumed at the point of use. Distributed Generation networks can address the concerns of; increasing electricity demand, limitations of traditional power generation, efficiency losses through transmission & distribution lines and significant infrastructure investment. There is a need today, and in the future, for secure and highly efficient generation of electricity with significantly lower greenhouse gas emissions. BlueGen™ is the latest in Solid Oxide Fuel Cell (SOFC) technology to deliver highly efficient electricity.
BlueGen™ utilises the latest Gennex™ fuel cell module that offers the highest levels electrical efficiency in the world – 60% net electrical efficiency. This means BlueGen™ produces more electricity from the same amount of fuel compared to traditional small scale electric generators.
BlueGen™ is fitted with an integrated heat exchanger to recover the heat from the fuel cell module. A separate water tank (not supplied) can be connected to the unit to increase the total system efficiency.
BlueGen™ can be installed as:
SSElectric Generator system; no heat recovery = power only
SSCo-Generation Ssystem; Swith Sheat Srecovery S= power + heat
Because of the high level of electric efficiency, BlueGen™ produces much less heat than other electric generators. Less heat means the unit can operate for longer, which in turn means, more high-efficiency electricity that helps reduce CO2
Functionality
The BlueGen™ unit can operate as a stand-alone generator or be remotely controlled. The output power level can be adjusted to suit a number of different electricity production requirements; from ‘constant base-load power’ generation to pre-set ‘peak shaving’ generation profiles. The BlueGen™ unit has a number of different operating modes:
Heat-up
• Fully automatic using mains power (grid Sindependent Sstart-up Snot Spossible)
Self sustain
• Unit is producing electricity, but with zero power export (e.g. in event of extended grid fault)
Power production
• Unit is exporting electricity; power output can be modulated from 0% to 100%
Cool down
• Using mains power (approx. 36 to 72 hours for safe cool down)
Specifications Spezifikationen
Model Number: BlueGen Modellnummer: BlueGen
Performance Leistung
Electric Output: 0 to 2,000 W
Power output modulation from 0 % to 100 %
Elektrische Leistung: 0 bis 2.000 W
Stromausgangsregulierung von 0 % bis 100 %
Max. Electrical Efficiency: 60 % at 1,500 W output
(Net AC export LHV)
Max. elektr. Wirkungsgrad: 60 % bei 1.500 W Leistung
(Wechselstromexport netto; unterer Heizwert)
Note: Thermal output and water recovery only possible with heat recovery system connected Anmerkung: Thermische Leistung und Wasserrückgewinnung ist nur mit angeschlossenem Wärmerückgewinnungssystem möglich
Thermal Output: Approx. 300 W to 1,000 W
Depending on electric power output and heat recovery water temperature (exhaust gas cooled to 30 °C)
Thermische Leistung: ca. 300 W bis 1.000 W
Abhängig von Stromleistung und Rücklaufttemperatur
(Abgas auf 30° gekühlt)
Total System Efficiency: Up to 85 %
(depending on heat and condensate recovered)
Gesamtsystemwirkungsgrad: Bis zu 85 %
(abhängig von der zurückgewonnenen Wärme und Kondensat)
Inputs Eingaben
Electrical: 230V ±10% 50Hz
Single Phase AC parallel grid connected
Elektrisch: 230V ±10% 50Hz
Einphasenwechselstrom parallel zum Stromnetz geschaltet
Natural Gas: For start-up & operation
Supply pressure 0.9 to 2 kPa
(integrated gas desulphurisation)
Erdgas: Für Inbetriebnahme & Betrieb:
Versorgungsdruck 0.9 bis 2 kPa
(eingebaute Gasentschwefelung)
Water: For internal steam reforming:
Supply pressure min. 100 to 600 kPa
(integrated water treatment system)
Wasser: Für interne Dampfreformierung
Versorgungsdruck min. 100 bis 600 kPa
(eingebaute Wasseraufbereitung)
Consumption (at maximum output) Verbrauch (bei maximaler Leistung)
Natural Gas: 12.6 MJ/hr (12,000 BTU/hr)
Actual gas volume dependant on composition of natural gas
Erdgas: 12.6 MJ/h. (12,000 BTU/h.)
Tatsächliches Gasvolumen abhängig von der Zusammensetzung des Erdgases
Water: 0.0 ℓ/hr - 1.67 ℓ/hr
Water consumption dependant on:
i) if heat recovery connected
ii) amount of condensate recovered from flue gas
Wasser: 0.0 ℓ/h. - 1.67 ℓ/h.
Wasserverbrauch abhängig von:
i) angeschlossene Wärmerückgewinnung
ii) Menge des aus dem Abgas zurückgewonnenen Kondensats
Outputs Ausgaben
Net AC export: 0 W – 2,000 W
Single Phase parallel grid connected: 230V ±10% 50Hz
Wechselstromexport netto: 0 W – 2,000 W
Einphase parallel am Stromnetz angeschlossen: 230V ±10% 50Hz
CO2Emissions: 340 g/kWh
Flue gas emissions consist of CO2and water vapour, virtually no NOx or SOx emissions
CO2Emissionen: 340 g/kWh
Abgasemision besteht aus CO2und Wasserdampf, nahezu keine NOx oder SOx Emissionen
Flue Gas Temperature: Max 200 °C
Maximum if heat recovery system not connected
Abgastemperatur: Max 200 °C
Höchstwert, falls Wärmerückgewinnungssystem nicht angeschlossen ist
Useable Water: Max 1.1 L/hr
From water treatment system if heat recovery system not connected
Verwendbares Wasser: Max 1.1 L/h.
Vom Wasseraufbereitungssystem, falls Wärmerückgewinnungssystem nicht angeschlossen ist
Noise level: < 45 dBa Lärmpegel: < 45 dBa
Operating Conditions & Other Betriebsbedingungen & Sonstiges
Ambient Temperature: +1 °C - +45 °C Umgebungstemperatur: +1 °C - +45 °C
Inlet Air Temperature: -20 °C - +45 °C Luftzufuhrtemperatur: -20 °C - +45 °C
Location: Indoors - excluding living zones
Outdoors - protected from the elements and above freezing temperature
Standort: Im Haus – Wohnbereiche ausgenommen
Im Freien – geschützt vor den Elementen und über dem
Gefrierpunkt
Start-up Time: 25 Hours Anlaufzeit: 25 Stunden
Minor Maintenance Approx 12 months
Air filters (depending on installed location)
Water filters (depending on input water quality)
Intervall Kleinwartung: ca. 12 Monate
Luftfilter (abhängig vom Installationsstandort)
Wasserfilter (abhängig von der eingebrachten Wasserqualität
Major Maintenance Interval: Greater than 12 months
Desulphuriser (subject to gas composition)
Air filters (depending on installed location)
Water filters (depending on input water quality)
Intervall Hauptwartung: Größer als 12 Monate
Entschwefler (abhängig von der Gaszusammensetzung)
Luftfilter (abhängig vom Standort)
Wasserfilter (abhänig von der einbringenden Wasserqualität)
Approx. Mass: < 200 kg Gewicht ca.: < 200 kg
Connections Verbindungen
Fuel: ½" BSP female Brennstoff: ½" BSP-Innengewinde
Water
Supply: ¼" quick connect ‘John Guest’ fitting
Hot water: 2 x ¾" BSP female
Drain: 2 x ¼" quick connect ‘John Guest’ fittings
Wasser
Versorgung: ¼"Anschlussverbindung "John Guest"
Heißwasser: 2 x ¾" BSP-Innengewinde
Abfluss: 2 x ¼" Schnellanschlussverbindung "John Guest"
Electricity: Hardwired via junction box on external casing Elektrizität: Festverdrahtet via Anschluss-kasten an externem Gehäuse
Flue: Balanced flue with standard concentric flue
100/60 mm diameter
Rauchabzug: Abgassystem mit konzentrischem Standard-abgassystem
100/60 mm Durchmesser
Communication: Connection via standard Ethernet port Datenübertragung: Verbindung via Standard Ethernetport
ORIONAIRSALES: Buy Air Source Heat Pumps for home use.
BlueGen is the latest breakthrough in small scale electricity generation - a modular style fuel cell generator that can be configured to suit a range of different markets and installations. For markets that require an alternative product approach to fully-integrated 'European style' systems, such as Japan, Northern America and Australia - BlueGen™ bridges that gap.
The future of electricity generation will be using a Distributed Generation network, where electricity can be generated and consumed at the point of use. Distributed Generation networks can address the concerns of; increasing electricity demand, limitations of traditional power generation, efficiency losses through transmission & distribution lines and significant infrastructure investment. There is a need today, and in the future, for secure and highly efficient generation of electricity with significantly lower greenhouse gas emissions. BlueGen™ is the latest in Solid Oxide Fuel Cell (SOFC) technology to deliver highly efficient electricity.
BlueGen™ utilises the latest Gennex™ fuel cell module that offers the highest levels electrical efficiency in the world – 60% net electrical efficiency. This means BlueGen™ produces more electricity from the same amount of fuel compared to traditional small scale electric generators.
BlueGen™ is fitted with an integrated heat exchanger to recover the heat from the fuel cell module. A separate water tank (not supplied) can be connected to the unit to increase the total system efficiency.
BlueGen™ can be installed as:
SSElectric Generator system; no heat recovery = power only
SSCo-Generation Ssystem; Swith Sheat Srecovery S= power + heat
Because of the high level of electric efficiency, BlueGen™ produces much less heat than other electric generators. Less heat means the unit can operate for longer, which in turn means, more high-efficiency electricity that helps reduce CO2
Functionality
The BlueGen™ unit can operate as a stand-alone generator or be remotely controlled. The output power level can be adjusted to suit a number of different electricity production requirements; from ‘constant base-load power’ generation to pre-set ‘peak shaving’ generation profiles. The BlueGen™ unit has a number of different operating modes:
Heat-up
• Fully automatic using mains power (grid Sindependent Sstart-up Snot Spossible)
Self sustain
• Unit is producing electricity, but with zero power export (e.g. in event of extended grid fault)
Power production
• Unit is exporting electricity; power output can be modulated from 0% to 100%
Cool down
• Using mains power (approx. 36 to 72 hours for safe cool down)
Specifications Spezifikationen
Model Number: BlueGen Modellnummer: BlueGen
Performance Leistung
Electric Output: 0 to 2,000 W
Power output modulation from 0 % to 100 %
Elektrische Leistung: 0 bis 2.000 W
Stromausgangsregulierung von 0 % bis 100 %
Max. Electrical Efficiency: 60 % at 1,500 W output
(Net AC export LHV)
Max. elektr. Wirkungsgrad: 60 % bei 1.500 W Leistung
(Wechselstromexport netto; unterer Heizwert)
Note: Thermal output and water recovery only possible with heat recovery system connected Anmerkung: Thermische Leistung und Wasserrückgewinnung ist nur mit angeschlossenem Wärmerückgewinnungssystem möglich
Thermal Output: Approx. 300 W to 1,000 W
Depending on electric power output and heat recovery water temperature (exhaust gas cooled to 30 °C)
Thermische Leistung: ca. 300 W bis 1.000 W
Abhängig von Stromleistung und Rücklaufttemperatur
(Abgas auf 30° gekühlt)
Total System Efficiency: Up to 85 %
(depending on heat and condensate recovered)
Gesamtsystemwirkungsgrad: Bis zu 85 %
(abhängig von der zurückgewonnenen Wärme und Kondensat)
Inputs Eingaben
Electrical: 230V ±10% 50Hz
Single Phase AC parallel grid connected
Elektrisch: 230V ±10% 50Hz
Einphasenwechselstrom parallel zum Stromnetz geschaltet
Natural Gas: For start-up & operation
Supply pressure 0.9 to 2 kPa
(integrated gas desulphurisation)
Erdgas: Für Inbetriebnahme & Betrieb:
Versorgungsdruck 0.9 bis 2 kPa
(eingebaute Gasentschwefelung)
Water: For internal steam reforming:
Supply pressure min. 100 to 600 kPa
(integrated water treatment system)
Wasser: Für interne Dampfreformierung
Versorgungsdruck min. 100 bis 600 kPa
(eingebaute Wasseraufbereitung)
Consumption (at maximum output) Verbrauch (bei maximaler Leistung)
Natural Gas: 12.6 MJ/hr (12,000 BTU/hr)
Actual gas volume dependant on composition of natural gas
Erdgas: 12.6 MJ/h. (12,000 BTU/h.)
Tatsächliches Gasvolumen abhängig von der Zusammensetzung des Erdgases
Water: 0.0 ℓ/hr - 1.67 ℓ/hr
Water consumption dependant on:
i) if heat recovery connected
ii) amount of condensate recovered from flue gas
Wasser: 0.0 ℓ/h. - 1.67 ℓ/h.
Wasserverbrauch abhängig von:
i) angeschlossene Wärmerückgewinnung
ii) Menge des aus dem Abgas zurückgewonnenen Kondensats
Outputs Ausgaben
Net AC export: 0 W – 2,000 W
Single Phase parallel grid connected: 230V ±10% 50Hz
Wechselstromexport netto: 0 W – 2,000 W
Einphase parallel am Stromnetz angeschlossen: 230V ±10% 50Hz
CO2Emissions: 340 g/kWh
Flue gas emissions consist of CO2and water vapour, virtually no NOx or SOx emissions
CO2Emissionen: 340 g/kWh
Abgasemision besteht aus CO2und Wasserdampf, nahezu keine NOx oder SOx Emissionen
Flue Gas Temperature: Max 200 °C
Maximum if heat recovery system not connected
Abgastemperatur: Max 200 °C
Höchstwert, falls Wärmerückgewinnungssystem nicht angeschlossen ist
Useable Water: Max 1.1 L/hr
From water treatment system if heat recovery system not connected
Verwendbares Wasser: Max 1.1 L/h.
Vom Wasseraufbereitungssystem, falls Wärmerückgewinnungssystem nicht angeschlossen ist
Noise level: < 45 dBa Lärmpegel: < 45 dBa
Operating Conditions & Other Betriebsbedingungen & Sonstiges
Ambient Temperature: +1 °C - +45 °C Umgebungstemperatur: +1 °C - +45 °C
Inlet Air Temperature: -20 °C - +45 °C Luftzufuhrtemperatur: -20 °C - +45 °C
Location: Indoors - excluding living zones
Outdoors - protected from the elements and above freezing temperature
Standort: Im Haus – Wohnbereiche ausgenommen
Im Freien – geschützt vor den Elementen und über dem
Gefrierpunkt
Start-up Time: 25 Hours Anlaufzeit: 25 Stunden
Minor Maintenance Approx 12 months
Air filters (depending on installed location)
Water filters (depending on input water quality)
Intervall Kleinwartung: ca. 12 Monate
Luftfilter (abhängig vom Installationsstandort)
Wasserfilter (abhängig von der eingebrachten Wasserqualität
Major Maintenance Interval: Greater than 12 months
Desulphuriser (subject to gas composition)
Air filters (depending on installed location)
Water filters (depending on input water quality)
Intervall Hauptwartung: Größer als 12 Monate
Entschwefler (abhängig von der Gaszusammensetzung)
Luftfilter (abhängig vom Standort)
Wasserfilter (abhänig von der einbringenden Wasserqualität)
Approx. Mass: < 200 kg Gewicht ca.: < 200 kg
Connections Verbindungen
Fuel: ½" BSP female Brennstoff: ½" BSP-Innengewinde
Water
Supply: ¼" quick connect ‘John Guest’ fitting
Hot water: 2 x ¾" BSP female
Drain: 2 x ¼" quick connect ‘John Guest’ fittings
Wasser
Versorgung: ¼"Anschlussverbindung "John Guest"
Heißwasser: 2 x ¾" BSP-Innengewinde
Abfluss: 2 x ¼" Schnellanschlussverbindung "John Guest"
Electricity: Hardwired via junction box on external casing Elektrizität: Festverdrahtet via Anschluss-kasten an externem Gehäuse
Flue: Balanced flue with standard concentric flue
100/60 mm diameter
Rauchabzug: Abgassystem mit konzentrischem Standard-abgassystem
100/60 mm Durchmesser
Communication: Connection via standard Ethernet port Datenübertragung: Verbindung via Standard Ethernetport
ORIONAIRSALES: Buy Air Source Heat Pumps for home use.
Half Yearly Report 18/02/11 RNS Ceramic Fuel Cells Limited
RNS Number : 4688B
Ceramic Fuel Cells Limited
18 February 2011
18 February 2011
Ceramic Fuel Cells Limited
Half Year Accounts
Ceramic Fuel Cells Limited (AIM / ASX: CFU) a leading developer of high efficiency and low emission power products for homes, today released its interim financial results for the six months ended 31 December 2010.
The Directors' Report and Financial Report for the half year are available at www.cfcl.com.au.
A company presentation, and a link to a webcast interview with Managing Director Brendan Dow, are also available at www.cfcl.com.au.
For further information please contact:
Ceramic Fuel Cells
Andrew Neilson Tel: +613 9554 2300
Email: investor@cfcl.com.au
Nomura Code Securities (AIM Tel: +44 (0) 207 776
Nomad) 1200
Juliet Thompson, Chris Golden
Australia Media enquiries
Richard Allen, Oxygen Financial Tel: +613 9915 6341
Public Relations
UK Media enquiries Tel: +44 (0) 7786 116
Mark Way 991
Email: Mark.W@harvardamerica.com
About Ceramic Fuel Cells Limited:
Ceramic Fuel Cells Limited is a world leader in developing fuel cell technology to provide highly efficient and low-emission electricity from widely available natural gas. Ceramic Fuel Cells is developing fully integrated power and heating products with leading energy companies E.ON UK in the United Kingdom, GdF Suez in France and EWE in Germany. Ceramic Fuel Cells has also sold more than 60 BlueGen gas-to-electricity generators to major utilities and other foundation customers in Europe, Japan, Australia and the USA. Ceramic Fuel Cells is listed on the London Stock Exchange AIM market and the Australian Securities Exchange (code CFU). www.cfcl.com.au
Register to receive email alerts of CFCL announcements and industry news, at www.cfcl.com.au/register
This information is provided by RNS
The company news service from the London Stock Exchange
END
Ceramic Fuel Cells Limited
18 February 2011
18 February 2011
Ceramic Fuel Cells Limited
Half Year Accounts
Ceramic Fuel Cells Limited (AIM / ASX: CFU) a leading developer of high efficiency and low emission power products for homes, today released its interim financial results for the six months ended 31 December 2010.
The Directors' Report and Financial Report for the half year are available at www.cfcl.com.au.
A company presentation, and a link to a webcast interview with Managing Director Brendan Dow, are also available at www.cfcl.com.au.
For further information please contact:
Ceramic Fuel Cells
Andrew Neilson Tel: +613 9554 2300
Email: investor@cfcl.com.au
Nomura Code Securities (AIM Tel: +44 (0) 207 776
Nomad) 1200
Juliet Thompson, Chris Golden
Australia Media enquiries
Richard Allen, Oxygen Financial Tel: +613 9915 6341
Public Relations
UK Media enquiries Tel: +44 (0) 7786 116
Mark Way 991
Email: Mark.W@harvardamerica.com
About Ceramic Fuel Cells Limited:
Ceramic Fuel Cells Limited is a world leader in developing fuel cell technology to provide highly efficient and low-emission electricity from widely available natural gas. Ceramic Fuel Cells is developing fully integrated power and heating products with leading energy companies E.ON UK in the United Kingdom, GdF Suez in France and EWE in Germany. Ceramic Fuel Cells has also sold more than 60 BlueGen gas-to-electricity generators to major utilities and other foundation customers in Europe, Japan, Australia and the USA. Ceramic Fuel Cells is listed on the London Stock Exchange AIM market and the Australian Securities Exchange (code CFU). www.cfcl.com.au
Register to receive email alerts of CFCL announcements and industry news, at www.cfcl.com.au/register
This information is provided by RNS
The company news service from the London Stock Exchange
END
Ceramic Fuel Cells Limited ADVFN comments and news.
Hectorp - 18 Feb'11 - 09:22 - 1954 of 1956
The drop in treasury due to currency movement was 'only' $83,000, ( or pounds) but not highly significant.
I now expect that in 18 months they could have orders for up to 0.5 million Bluegens from 2-3-4 partners. But they will trickle in. Notice that in UK, CFU are instrumental in setting up the feedback tariff arrangements for this very kind of appliance! so we should get a 'pass' from the Government and that will get E-on moving. This is crucial to the UK side. I expect we will not make huge rewards for another 1-2 years and we will have to be patient all of 2011 and my personal target is only 12p for this year ( = +40 or 50%).
Overall there was much ground for hope and expectation while still not quite realised ! - we can certainly see where massive interest and possible large orders will come from, bluegen has attracted lots of interest and I sense that area is where large domestic markets can be addressed by multiple partners in several countries. AS yet, there is NO straightforward competitor device set up for sales like CFU's.
(an aside: We HAVE cornered a market, if the particular home and office generation market can only realise its own value to the Politicians and power companies. It is not always in their interests to progress this kind of home generation-some nations are deeply centrist in principle - The present UK Government is not and that will help us- even though they say so to the public.)
I am biased in that I desperately want to acquire a bluegen asap and it won't be for maybe 2 years yet. However that doesn't blind me to the fact that this is proving difficult to get geared to the upside - but the share price reflects the current position .
simon102 - 18 Feb'11 - 13:03 - 1958 of 1959
scrumpy - The large furnaces are still not operational - They have shipped some smaller ones in from AUS.
scrumpy71 - 18 Feb'11 - 13:17 - 1959 of 1959
Apologies simon for the incorrect info, i meant as per the manufacturing info from the report below.
Manufacturing
The Company has built a plant in Heinsberg, Germany for the volume assembly of its fuel cell stacks. All the assembly processes at the plant are fully commissioned and operating, including the ink mixing equipment and the robotic seal dispensing and assembly machines.
The Company is currently making fuel cell stacks in Heinsberg, and in Melbourne, in sufficient quantities to meet current and forecast demand. In order to increase production the Company has shipped three additional furnaces from Melbourne to Heinsberg.
These additional furnaces were commissioned in February 2011 and are now fully operational.
To further increase the volume of stacks the Company intends to use larger furnaces already installed at the Heinsberg plant. The Company is continuing to work with the supplier of the large volume furnaces to identify changes needed to ensure the furnaces will produce fuel cell stacks in larger volumes at acceptable quality standards
Philbey - 20 Feb'11 - 18:27 - 1960 of 1962
Has any one else seen The Sunday Times?
Energetix a British company are producing a micro-chp boiler, natural gas fueled, generating electric power with feed in tarrif.No information about the technology. Purchase costs approx £3300.
They have initial orders from Eon UK and Germany to conduct the same trials underway for Bluegen.
Any one know any more about this company - synergistic or competitive rival?
http://www.thesundaytimes.co.uk/sto/public/sitesearch.do?querystring=Energetix§ionId=2&p=sto&bl=on&pf=all
jab118 - 20 Feb'11 - 18:57 - 1961 of 1962
It's old news Phil
Don't panic there is only one major leader in this field..;-)
http://www.liverpooldailypost.co.uk/ldpbusiness/business-local/2010/10/25/energetix-moves-closer-to-german-launch-of-green-boiler-92534-27536141/
tonsil - 20 Feb'11 - 23:14 - 1962 of 1962
can someone please explain how this compares with CFU technology?
Hectorp- 23 Feb'11 - 07:56 - 1980 of 1991
CFU to exhibit with E-On at the huge Ecobuild Exhibition in Londin, in March.
Ecobuild, which is to be held at the ExCeL exhibition and conference centre in the London's Docklands from 1 March to 3 March 2011, is the world's biggest event for sustainable design, construction and the built environment and the UK's largest construction event of any kind.
fludde - 23 Feb'11 - 08:18 - 1981 of 1991
Interesting. Good news is always worth a tick down!
Ball Deap - 23 Feb'11 - 08:29 - 1982 of 1991 edit
jab118 - 23 Feb'11 - 11:26 - 1983 of 1991
Dazzel
Your last post was a sign of a true believer of a true investors future insight and couldn't agree more. The one reason why we bought into this company in the first place was of the true potential future of a World wide "BlUEGEM" boom, the sights and the barrels are still pointing at the correct target IMO.
Boom Boom ! ;-)
jab118 - 23 Feb'11 - 11:52 - 1984 of 1991
Balls
I just bought a few to try and keep you Stop loss intact, or have you been hit out today ?
Dabeesg - 23 Feb'11 - 11:53 - 1985 of 1991
The problems in the Middle East and the surge in the oil price should be a bonus for alternative energy such as Bluegens. Hope so anyway....
G
jab118 - 23 Feb'11 - 12:12 - 1986 of 1991
You can buy just under mid price 7.8p so I'd say most deals today are buy trades, it could be a sign the tide is turning...;-)
KinkyKim - 23 Feb'11 - 12:34 - 1987 of 1991
Hullo,
I'm new to this investment game, I notice that I can add these to my ISA, is there any reason why the price is DROPPING?????
peter pan1 - 23 Feb'11 - 12:38 - 1988 of 1991
ello KinkyKim
because investors are selling out of this dog hope that helps
KinkyKim - 23 Feb'11 - 12:42 - 1989 of 1991
Why is it classed as a dog?
cool_hand - 23 Feb'11 - 13:04 - 1990 of 1991
Kinky: only 2 reasons I can think of, many PI's in Australia may of needed funds due the problems they've had over there, although I doubt that would push it down as far as this.
There's deafening sound of "no orders".
I expect there's some shorting, in hindsight it looked a good short, whether that's true now couldn't tell you. As a LTH I am pissed off with management here, the recent cash call is now looking to be folly.
KinkyKim - 23 Feb'11 - 13:09 - 1991 of 1991
What do you mean shorting?
Maybe the peak oil issue will push us back to a sensible level. It is going to be a massive issue soon.
Hectorp - 25 Feb'11 - 08:02 - 2012 of 2013
cool hand we noticed it on the GKP thread yesterday.
Thanks Ball
- I see non-exec added 100 K today too.. useful, as its only £8000 but its his own money.
ProperCharlie - 25 Feb'11 - 08:49 - 2013 of 2013
I wrote to CFU asking about Energetics and their relative market / product position. I thought you might be interested in this response I received,
"....Thank you for your note and your support for CFU.
A few points about Energetix and other mCHP products:
- Energetix and all other mCHP products are heaters that produce a small amount of power as a byproduct. BlueGen is the opposite - a mini power station with a small amount of heat. We think power is more valuable than heat, so maximise electrical efficiency. That's also the way to maximise carbon savings and energy bill savings.
- The key measure is electrical efficiency- other mCHP products are often less than 10% - BlueGen is >50%, peak of 60%- so they are very different offerings.
- There is plenty of room for a range of CHP technologies and products. They have different features/benefits and suit different types of buildings. It is not a binary choice - there will be fuel cells and other CHP products (not or). (Although of course we think we've got a compelling advantage through highest electrical efficiency....if you want a heater, buy a condensing boiler...)
- We think it's a good thing that EON and other large utilities are investing in a range of CHP products. It makes it more likely that they will actually deploy products in volume. It's a sensible approach to have a portfolio of products and customer offerings. Again, it's not a binary choice.
- The market is vast and we are in early sales. A range of low emissions technologies will be needed to quickly make large carbon cuts. Perhaps in a few years we will be competing for market share - but for now all mCHP products need to create the market, before we start dividing it!
PS if you need a 3rd party source for relative electrical efficiencies etc, UK Carbon Trust did a good report in late 2007 - summary attached, and also see http://www.carbontrust.co.uk/emerging-technologies/current-focus-areas/pages/micro-combined-heat-power.aspx. It's a bit dated now but will give you the key points.
Once again thanks for your support.
Regards
Andrew Neilson
Group General Manager - Commercial...."
Ball Deap - 6 Mar'11 - 17:14 - 2069 of 2091 edit
Simon I wouldn't like to say but their catching up. :-)
jab118 - 7 Mar'11 - 15:28 - 2070 of 2091
Balls really needs to be pulled off up from here, where is that Kinky Kim when you need her? ;-)
Dabeesg - 7 Mar'11 - 17:06 - 2071 of 2091
Something is brewing. Some meaty trades at the end of the day.
G
zeppo - 7 Mar'11 - 17:17 - 2072 of 2091
Dabeesq
Hope you're right.
I am also into CWR.
Are they direct competitors or are the products different?
Any opinions?
z
Hectorp - 7 Mar'11 - 18:39 - 2073 of 2091
My regards to Zeppo and his famous brothers.
- meanwhile,
Jab ( above) what is today's volume all about very interesting.
Higher vol is always a pointer to something.
Hectorp - 7 Mar'11 - 18:45 - 2074 of 2091
Ball, many thanks for your helful writeup! all the best.
H.
Realism - 8 Mar'11 - 09:21 - 2075 of 2091
2 delayed trades of 540k of yesterday are showing this morning. some big buyer is around.
jab118 - 8 Mar'11 - 09:49 - 2076 of 2091
Heptorc, me old mucker
I'm getting a feeling (gut feeling) we could be close to some share surging news, here and a very high volume day, to kick this share orbit, and at least see the price back up to 10p.
Balls, very good blog and interesting reading...;-)
Hectorp - 8 Mar'11 - 13:32 - 2077 of 2091
Following this is like a wall of worry, but we will come good, even if it is some months yet. Most holders like us are believers and fans of the technology.
Dabeesg - 8 Mar'11 - 15:09 - 2078 of 2091
My main core holdings are PIC and this one.
So, not having a good day today.
G
Ball Deap - 8 Mar'11 - 16:31 - 2079 of 2091
H, jab, thanks it was with help from you guys with the questions supplied. When we have made our fortunes we will have to bang a glass of a vintage Bolonger on H's ocean cruiser. :-) time for a share price surge.
barney28 - 8 Mar'11 - 17:35 - 2080 of 2091
some strange trades today
brunodog2 - 8 Mar'11 - 22:10 - 2081 of 2091
Back to the end of day sell off. Might wanna keep the cristale on ice.
simon102 - 9 Mar'11 - 08:32 - 2082 of 2091
Taken from CFU website for March 2011
http://nanotechnology.org.au/documents/case_studies/2011/ceramic-fuel-cells-ltd.pdf
Only 10000 but better than selling!! just!!
http://www.cfcl.com.au/Assets/Files/20110309_CFCL_Appendix_03Y_Binks_9March2011.pdf
broshm - 9 Mar'11 - 09:33 - 2083 of 2091
Dr binks 10,000 well what a big deal !
wonder if any Dirs see any of ADVFN of any companies ?
barney28 - 9 Mar'11 - 09:48 - 2084 of 2091
?
Ball Deap - 10 Mar'11 - 17:59 - 2085 of 2091
Anyone else feeling the pain??? :-) Brandon Dow might have to start looking for a new job soon...
parkyboy - 11 Mar'11 - 07:18 - 2086 of 2091
Eon appear to continue to be laying the foundations for low co tech roll-out, I share all holders frustration at what appears to be painfully slow progress, but if that gets us to where we feel we should be in the end then so be it, have and will continue to hold, guess it was never going to be a quick-buck stock, GL links below parkyboy
http://www.greenwisebusiness.co.uk/news/eon-and-inland-homes-to-construct-low-carbon-community-in-west-london-2166.aspx
http://www.climatespectator.com.au/news/eon-says-can-handle-higher-co2-bill-2013
fludde - 11 Mar'11 - 08:29 - 2087 of 2091
Back to break even from having been my best performing share. Still at least I didn't get suckered into the last placing. Feel sorry for those that did, but it just means waiting longer for the return I guess.
Ball Deap - 11 Mar'11 - 09:09 - 2088 of 2091
Sorry guys I am no longer a share holder. This dog hit my stop loss so had to be sold. Brandon Dow made a bad choice doing a placing at 10.75 and ripping off the share holders. Time to sack him....
broshm - 11 Mar'11 - 11:17 - 2089 of 2091
why does transaction of 357,340 shares at 7.125 go on the list as unknown buy or sell ? can you buy them at this ?
The drop in treasury due to currency movement was 'only' $83,000, ( or pounds) but not highly significant.
I now expect that in 18 months they could have orders for up to 0.5 million Bluegens from 2-3-4 partners. But they will trickle in. Notice that in UK, CFU are instrumental in setting up the feedback tariff arrangements for this very kind of appliance! so we should get a 'pass' from the Government and that will get E-on moving. This is crucial to the UK side. I expect we will not make huge rewards for another 1-2 years and we will have to be patient all of 2011 and my personal target is only 12p for this year ( = +40 or 50%).
Overall there was much ground for hope and expectation while still not quite realised ! - we can certainly see where massive interest and possible large orders will come from, bluegen has attracted lots of interest and I sense that area is where large domestic markets can be addressed by multiple partners in several countries. AS yet, there is NO straightforward competitor device set up for sales like CFU's.
(an aside: We HAVE cornered a market, if the particular home and office generation market can only realise its own value to the Politicians and power companies. It is not always in their interests to progress this kind of home generation-some nations are deeply centrist in principle - The present UK Government is not and that will help us- even though they say so to the public.)
I am biased in that I desperately want to acquire a bluegen asap and it won't be for maybe 2 years yet. However that doesn't blind me to the fact that this is proving difficult to get geared to the upside - but the share price reflects the current position .
simon102 - 18 Feb'11 - 13:03 - 1958 of 1959
scrumpy - The large furnaces are still not operational - They have shipped some smaller ones in from AUS.
scrumpy71 - 18 Feb'11 - 13:17 - 1959 of 1959
Apologies simon for the incorrect info, i meant as per the manufacturing info from the report below.
Manufacturing
The Company has built a plant in Heinsberg, Germany for the volume assembly of its fuel cell stacks. All the assembly processes at the plant are fully commissioned and operating, including the ink mixing equipment and the robotic seal dispensing and assembly machines.
The Company is currently making fuel cell stacks in Heinsberg, and in Melbourne, in sufficient quantities to meet current and forecast demand. In order to increase production the Company has shipped three additional furnaces from Melbourne to Heinsberg.
These additional furnaces were commissioned in February 2011 and are now fully operational.
To further increase the volume of stacks the Company intends to use larger furnaces already installed at the Heinsberg plant. The Company is continuing to work with the supplier of the large volume furnaces to identify changes needed to ensure the furnaces will produce fuel cell stacks in larger volumes at acceptable quality standards
Philbey - 20 Feb'11 - 18:27 - 1960 of 1962
Has any one else seen The Sunday Times?
Energetix a British company are producing a micro-chp boiler, natural gas fueled, generating electric power with feed in tarrif.No information about the technology. Purchase costs approx £3300.
They have initial orders from Eon UK and Germany to conduct the same trials underway for Bluegen.
Any one know any more about this company - synergistic or competitive rival?
http://www.thesundaytimes.co.uk/sto/public/sitesearch.do?querystring=Energetix§ionId=2&p=sto&bl=on&pf=all
jab118 - 20 Feb'11 - 18:57 - 1961 of 1962
It's old news Phil
Don't panic there is only one major leader in this field..;-)
http://www.liverpooldailypost.co.uk/ldpbusiness/business-local/2010/10/25/energetix-moves-closer-to-german-launch-of-green-boiler-92534-27536141/
tonsil - 20 Feb'11 - 23:14 - 1962 of 1962
can someone please explain how this compares with CFU technology?
Hectorp- 23 Feb'11 - 07:56 - 1980 of 1991
CFU to exhibit with E-On at the huge Ecobuild Exhibition in Londin, in March.
Ecobuild, which is to be held at the ExCeL exhibition and conference centre in the London's Docklands from 1 March to 3 March 2011, is the world's biggest event for sustainable design, construction and the built environment and the UK's largest construction event of any kind.
fludde - 23 Feb'11 - 08:18 - 1981 of 1991
Interesting. Good news is always worth a tick down!
Ball Deap - 23 Feb'11 - 08:29 - 1982 of 1991 edit
jab118 - 23 Feb'11 - 11:26 - 1983 of 1991
Dazzel
Your last post was a sign of a true believer of a true investors future insight and couldn't agree more. The one reason why we bought into this company in the first place was of the true potential future of a World wide "BlUEGEM" boom, the sights and the barrels are still pointing at the correct target IMO.
Boom Boom ! ;-)
jab118 - 23 Feb'11 - 11:52 - 1984 of 1991
Balls
I just bought a few to try and keep you Stop loss intact, or have you been hit out today ?
Dabeesg - 23 Feb'11 - 11:53 - 1985 of 1991
The problems in the Middle East and the surge in the oil price should be a bonus for alternative energy such as Bluegens. Hope so anyway....
G
jab118 - 23 Feb'11 - 12:12 - 1986 of 1991
You can buy just under mid price 7.8p so I'd say most deals today are buy trades, it could be a sign the tide is turning...;-)
KinkyKim - 23 Feb'11 - 12:34 - 1987 of 1991
Hullo,
I'm new to this investment game, I notice that I can add these to my ISA, is there any reason why the price is DROPPING?????
peter pan1 - 23 Feb'11 - 12:38 - 1988 of 1991
ello KinkyKim
because investors are selling out of this dog hope that helps
KinkyKim - 23 Feb'11 - 12:42 - 1989 of 1991
Why is it classed as a dog?
cool_hand - 23 Feb'11 - 13:04 - 1990 of 1991
Kinky: only 2 reasons I can think of, many PI's in Australia may of needed funds due the problems they've had over there, although I doubt that would push it down as far as this.
There's deafening sound of "no orders".
I expect there's some shorting, in hindsight it looked a good short, whether that's true now couldn't tell you. As a LTH I am pissed off with management here, the recent cash call is now looking to be folly.
KinkyKim - 23 Feb'11 - 13:09 - 1991 of 1991
What do you mean shorting?
Maybe the peak oil issue will push us back to a sensible level. It is going to be a massive issue soon.
Hectorp - 25 Feb'11 - 08:02 - 2012 of 2013
cool hand we noticed it on the GKP thread yesterday.
Thanks Ball
- I see non-exec added 100 K today too.. useful, as its only £8000 but its his own money.
ProperCharlie - 25 Feb'11 - 08:49 - 2013 of 2013
I wrote to CFU asking about Energetics and their relative market / product position. I thought you might be interested in this response I received,
"....Thank you for your note and your support for CFU.
A few points about Energetix and other mCHP products:
- Energetix and all other mCHP products are heaters that produce a small amount of power as a byproduct. BlueGen is the opposite - a mini power station with a small amount of heat. We think power is more valuable than heat, so maximise electrical efficiency. That's also the way to maximise carbon savings and energy bill savings.
- The key measure is electrical efficiency- other mCHP products are often less than 10% - BlueGen is >50%, peak of 60%- so they are very different offerings.
- There is plenty of room for a range of CHP technologies and products. They have different features/benefits and suit different types of buildings. It is not a binary choice - there will be fuel cells and other CHP products (not or). (Although of course we think we've got a compelling advantage through highest electrical efficiency....if you want a heater, buy a condensing boiler...)
- We think it's a good thing that EON and other large utilities are investing in a range of CHP products. It makes it more likely that they will actually deploy products in volume. It's a sensible approach to have a portfolio of products and customer offerings. Again, it's not a binary choice.
- The market is vast and we are in early sales. A range of low emissions technologies will be needed to quickly make large carbon cuts. Perhaps in a few years we will be competing for market share - but for now all mCHP products need to create the market, before we start dividing it!
PS if you need a 3rd party source for relative electrical efficiencies etc, UK Carbon Trust did a good report in late 2007 - summary attached, and also see http://www.carbontrust.co.uk/emerging-technologies/current-focus-areas/pages/micro-combined-heat-power.aspx. It's a bit dated now but will give you the key points.
Once again thanks for your support.
Regards
Andrew Neilson
Group General Manager - Commercial...."
Ball Deap - 6 Mar'11 - 17:14 - 2069 of 2091 edit
Simon I wouldn't like to say but their catching up. :-)
jab118 - 7 Mar'11 - 15:28 - 2070 of 2091
Balls really needs to be pulled off up from here, where is that Kinky Kim when you need her? ;-)
Dabeesg - 7 Mar'11 - 17:06 - 2071 of 2091
Something is brewing. Some meaty trades at the end of the day.
G
zeppo - 7 Mar'11 - 17:17 - 2072 of 2091
Dabeesq
Hope you're right.
I am also into CWR.
Are they direct competitors or are the products different?
Any opinions?
z
Hectorp - 7 Mar'11 - 18:39 - 2073 of 2091
My regards to Zeppo and his famous brothers.
- meanwhile,
Jab ( above) what is today's volume all about very interesting.
Higher vol is always a pointer to something.
Hectorp - 7 Mar'11 - 18:45 - 2074 of 2091
Ball, many thanks for your helful writeup! all the best.
H.
Realism - 8 Mar'11 - 09:21 - 2075 of 2091
2 delayed trades of 540k of yesterday are showing this morning. some big buyer is around.
jab118 - 8 Mar'11 - 09:49 - 2076 of 2091
Heptorc, me old mucker
I'm getting a feeling (gut feeling) we could be close to some share surging news, here and a very high volume day, to kick this share orbit, and at least see the price back up to 10p.
Balls, very good blog and interesting reading...;-)
Hectorp - 8 Mar'11 - 13:32 - 2077 of 2091
Following this is like a wall of worry, but we will come good, even if it is some months yet. Most holders like us are believers and fans of the technology.
Dabeesg - 8 Mar'11 - 15:09 - 2078 of 2091
My main core holdings are PIC and this one.
So, not having a good day today.
G
Ball Deap - 8 Mar'11 - 16:31 - 2079 of 2091
H, jab, thanks it was with help from you guys with the questions supplied. When we have made our fortunes we will have to bang a glass of a vintage Bolonger on H's ocean cruiser. :-) time for a share price surge.
barney28 - 8 Mar'11 - 17:35 - 2080 of 2091
some strange trades today
brunodog2 - 8 Mar'11 - 22:10 - 2081 of 2091
Back to the end of day sell off. Might wanna keep the cristale on ice.
simon102 - 9 Mar'11 - 08:32 - 2082 of 2091
Taken from CFU website for March 2011
http://nanotechnology.org.au/documents/case_studies/2011/ceramic-fuel-cells-ltd.pdf
Only 10000 but better than selling!! just!!
http://www.cfcl.com.au/Assets/Files/20110309_CFCL_Appendix_03Y_Binks_9March2011.pdf
broshm - 9 Mar'11 - 09:33 - 2083 of 2091
Dr binks 10,000 well what a big deal !
wonder if any Dirs see any of ADVFN of any companies ?
barney28 - 9 Mar'11 - 09:48 - 2084 of 2091
?
Ball Deap - 10 Mar'11 - 17:59 - 2085 of 2091
Anyone else feeling the pain??? :-) Brandon Dow might have to start looking for a new job soon...
parkyboy - 11 Mar'11 - 07:18 - 2086 of 2091
Eon appear to continue to be laying the foundations for low co tech roll-out, I share all holders frustration at what appears to be painfully slow progress, but if that gets us to where we feel we should be in the end then so be it, have and will continue to hold, guess it was never going to be a quick-buck stock, GL links below parkyboy
http://www.greenwisebusiness.co.uk/news/eon-and-inland-homes-to-construct-low-carbon-community-in-west-london-2166.aspx
http://www.climatespectator.com.au/news/eon-says-can-handle-higher-co2-bill-2013
fludde - 11 Mar'11 - 08:29 - 2087 of 2091
Back to break even from having been my best performing share. Still at least I didn't get suckered into the last placing. Feel sorry for those that did, but it just means waiting longer for the return I guess.
Ball Deap - 11 Mar'11 - 09:09 - 2088 of 2091
Sorry guys I am no longer a share holder. This dog hit my stop loss so had to be sold. Brandon Dow made a bad choice doing a placing at 10.75 and ripping off the share holders. Time to sack him....
broshm - 11 Mar'11 - 11:17 - 2089 of 2091
why does transaction of 357,340 shares at 7.125 go on the list as unknown buy or sell ? can you buy them at this ?
Ceramic Fuel Cells Limited Cashflow Report quarter end 31st Dec 2010
RNS Number : 9315Z
Ceramic Fuel Cells Limited
24 January 2011
24 January 2011
Ceramic Fuel Cells Limited
Quarterly Cashflow Report and Trading Update
Ceramic Fuel Cells Limited (AIM / ASX: CFU) a leading developer of high efficiency and low emission power products for homes, today released its quarterly cashflow report for the period ended 31 December 2010.
The cashflow report is available at www.cfcl.com.au.
Highlights
-- Conditional order for up to 200 integrated mCHP products - total contract value of up to 4.9 million Euros (AUD 6.6 million) over two years
-- Further sales of BlueGen units - cumulative orders for 62 BlueGen units in many large global markets
-- First BlueGen sale in Italy
-- Hills Industries Limited appointed as BlueGen distributor and national service and support partner in Australia
-- Progress towards product certification for UK feed-in tariff
-- BlueGen assembly transferred from Melbourne to Germany and operational from January 2011
-- Supply agreement with HC Starck secures long term volume supply of fuel cell components at agreed prices
-- Powder sale contract - CFCL's UK plant to supply ceramic powder to HC Starck
Operational Review
Order for 200 integrated products
In December the Company received a conditional order for up to 200 integrated power and heat generators from German energy service provider EWE. This is the largest order the Company has received, with total revenue of up to EUR 4.9 million over two years.
The integrated units use Ceramic Fuel Cells' patented technology to convert natural gas into electricity, hot water and space heating, with the world's highest level of electrical efficiency in small scale generators.
Ceramic Fuel Cells will supply the core Gennex fuel cell module and related components. Ceramic Fuel Cells and its local manufacturing partner, Gebruder Bruns Heiztechnik GmbH, will integrate the fuel cell module with a boiler into an integrated power and heating product for supply to EWE. EWE will then install the units in homes in the Lower Saxony region in northern Germany.
EWE is one of the largest utilities in Germany, with 6,400 staff and revenues of EUR 5.8 billion. Based in Northern Germany, EWE also has operations in other German states as well as Poland and Turkey.
The order is conditional on EWE receiving partial funding under the German government's national hydrogen and fuel cell technology innovation program. This Government program is providing EUR 700 million between 2008 and 2018. EWE has submitted a formal funding application and a positive decision is expected in early 2011.
Subject to EWE obtaining Government funding and to the units meeting agreed performance targets, EWE will order 70 units for delivery in 2011 and 130 units for delivery in 2012. The performance targets, unit prices and the rates for ongoing service and support have been agreed in a contract signed by EWE and Ceramic Fuel Cells.
This is a significant follow-on order from EWE, the Company's longest standing utility customer. The Company is confident that the German government will support the project and we look to updating shareholders in due course.
Apart from Germany, during the December quarter the Company also continued to operate integrated power and heating units with its appliance partners in the United Kingdom and France.
BlueGen sales
Apart from the integrated product, the Company has also developed a modular power and heat generator called BlueGen, to provide low emission power plus heat for hot water. One BlueGen can provide about double the electricity the average home needs - excess power can be exported to the grid - plus hot water for an average family's needs.
Like the integrated product, BlueGen uses the Company's Gennex fuel cell module to achieve electrical efficiency of 60 percent - far higher than any other small scale generator. The Company believes this very high electrical efficiency will deliver significant value to BlueGen customers, and will create a significant competitive advantage in the fast growing global market for small scale power generation.
During the December quarter the Company continued to receive orders for BlueGen units from leading energy companies and other foundation customers.
As at 24 January 2011 the Company has received orders for 59 BlueGen units, from customers in Germany, Switzerland, the United Kingdom, The Netherlands, Italy, Japan, Australia and the USA. A total of 21 BlueGen units are installed and operating in customers' sites.
Highlights during the December quarter and up to date include:
First Order in Italy
The Company has sold its first BlueGen units in Italy, to leading energy company Edison S.p.A. Edison will install one BlueGen unit, initially at its test laboratory and then at its headquarters in Milan. Edison has an option to install two further BlueGen units with Edison customers.
Founded in 1884, Edison is Europe's oldest energy company, with businesses in 10 countries in Europe, Africa and the Middle East. Edison is one of Italy's leading electricity and gas companies, providing 15 percent of Italy's electricity and 17 percent of its natural gas. 2009 revenues were EUR 9 billion. In 2010, Fortune magazine ranked Edison as the "Most Admired Company" in Italy and second worldwide in the energy sector.
The Company believes that Italy will be an ideal market for its products. There are more than 18 million homes connected to natural gas. The Italian Government has introduced several measures to support low emission power generation, including a tax benefit specifically for high efficiency micro-generation from natural gas.
E.ON UK Order
In December the Company sold three BlueGen units to one of the UK's leading energy companies, E.ON. One BlueGen will be installed in early 2011 at the E.ON training centre in Tipton, where E.ON's Property Services department trains its staff in the installation and maintenance of gas and electrical appliances. The other two BlueGen units will be installed at demonstration sites.
The Company believes that the BlueGen installation at the E.ON training centre will be particularly beneficial. Having a well trained network of installers and service technicians is critical to deploying BlueGens and integrated mCHP products in larger volumes, and to receiving accreditation in order to access the UK feed in tariff (discussed below).
In parallel with installing three BlueGen units, Ceramic Fuel Cells and E.ON are continuing to develop fully integrated power and heating products for the UK market. Under a product development agreement signed in 2009, Ceramic Fuel Cells and E.ON have agreed the development stages to move into production of commercial units. The partners are currently discussing the project plan details for the next phase of product development and deployment.
European Orders
During the quarter the Company received further orders from leading Germany energy companies, including EIFER (the European Institute for Energy Research) and EnBW, the third largest utility in Germany, and Gasag, based in Berlin. Gasag has announced that it will invest EUR 50 million in small scale power and heating over the next five years.
During the December quarter BlueGen was accredited by the relevant German Government authority (BAFA) and BlueGen customers in Germany are now eligible to receive the feed in tariff for small power and heating products.
BlueGen units were also independently tested and operated by the German Gas Association (DVGW). The Company is confident that these successful tests, and the continuing very strong interest from German energy companies, will lead to significant further BlueGen sales in Germany.
A BlueGen unit was also successfully tested at Kiwa-Gastec in The Netherlands, and is now installed in the home of a board member of Gasterra, one of the largest gas utilities in The Netherlands. A press release from Gasterra is available at their website - nieuws/berichten/Pages/woning_wordt_echte_elektriciteitsleverancier.aspx
In December the Company's French utility partner, GDF SUEZ, also ordered a BlueGen unit. GDFSUEZ will test and demonstrate the BlueGen in parallel with the existing project to develop an integrated power and heating product for the French market. GDF SUEZ is one of the largest energy companies in the world, with 214,000 staff and 2009 revenue of 79 billion Euros. GDF SUEZ is the largest buyer of natural gas in Europe.
Australian Sales
In November the Company installed the first BlueGen units as part of the order of 30 units from the Victorian Government. The BlueGen is installed in a home in the Melbourne suburb of Hampton East, and is providing electricity and hot water for the home. The Company is continuing to work with the Victorian Government Office of Housing to install the remaining units, in Melbourne and in Shepparton.
Leading Australian energy retailer Origin Energy has offered all tenants who install BlueGen units as part of the Victorian Government project a package of Green Gas plus a one-for-one feed-in tariff for the excess electricity generated by the BlueGen units. This means that a tenant who exports power to the grid will get a credit on their bill equal to the normal retail rate of electricity.
In December the Company installed a BlueGen unit at Adelaide's Central Market, South Australia's most visited tourist attraction. The Adelaide City Council and the South Australian Government have installed the BlueGen unit together with an electric vehicle charging station. This enables city shoppers to recharge their electric vehicles from low emission sources rather than carbon intensive power from the electricity grid. The new station, located in the Central Market car park, is free to users and can charge two vehicles at a time.
The Company believes that BlueGen is an ideal companion to electric vehicles, providing low emission electricity for distributed re-charging stations. The Company is pursuing several opportunities in the fast growing market for electric vehicle recharging infrastructure.
During the quarter the Company also received its first order in Queensland. A BlueGen unit will be installed by the Queensland Department of Public Works, in the Joint Contact Centre in Brisbane.
First BlueGen operating in USA
In November the Company installed the first BlueGen unit in the United States, at a Southern California Gas facility in California. Southern California Gas is the largest gas utility in the USA, with 20 million customers in California, and is part of the Fortune 500 energy services company, Sempra Energy.
BlueGen Distribution and Service in Australia
In January 2011 the Company signed an agreement with Adelaide-based Hills Holdings Limited (ASX: HIL) for Hills to sell and service the BlueGen product. Hills will distribute BlueGen, initially in South Australia, and will also provide installation and after-sales service for BlueGen products Australia-wide.
Hills is a leading manufacturer, distributor and installer of home products including premium solar hot water products. The company had revenues last financial year of AUD 1.1 billion.
The agreement is in line with Ceramic Fuel Cells' strategy to sell BlueGen units in Australia through distributors and to outsource the installation and service of BlueGen units. The agreement with Hills follows similar BlueGen distribution agreements with green products retailer Neco, based in Melbourne, and Harvey Norman's Commercial Division, in NSW and the ACT.
Hills is the Company's first BlueGen service and support partner. The Company is in discussions with potential service and support partners in other markets outside Australia and will make further announcements in due course.
UK Feed in Tariff
Ceramic Fuel Cells is continuing to make progress towards having BlueGen certified under the Microgeneration Certification Scheme ("MCS") in order to access the UK Government's feed in tariff. All microgeneration products must be accredited under MCS in order to be eligible for the UK feed in tariff.
In the December quarter a new MCS standard for electricity led micro combined heat and power units was developed, approved and published. Ceramic Fuel Cells was instrumental in instigating and promoting this new standard which is an essential requirement for accreditation under MCS. The existing standards applied to micro heat and power products which maximised heat output. This new standard applies specifically to micro heat and power products whose primary purpose is to generate electricity, with domestic hot water being an additional output.
During the December quarter the Company also successfully completed a range of tests required by the MCS.
BlueGen was successfully tested under the PAS67 standard - the British Standards Institution standard for tests to determine the heating and electrical performance of micro-cogeneration packages. This testing confirmed that BlueGen provides hot water for domestic use as well as significantly reducing net carbon emissions when compared to a modern condensing gas boiler and electricity from the UK grid. BlueGen was also tested by an independent body for its noise output.
In December the MCS auditor, BRE Global, conducted a factory assessment at Ceramic Fuel Cells' production facility in Melbourne. The Company expects the review of the data provided during this site visit to be completed during the first quarter of 2011. The Company expects this to be the final stage of the process before BlueGen is formally accredited under MCS.
Manufacturing
The Company has built a plant in Heinsberg, Germany for the volume assembly of its fuel cell stacks. All the assembly processes at the plant are fully commissioned and operating, including the ink mixing equipment and the robotic seal dispensing and assembly machines.
The Company is currently making fuel cell stacks in Heinsberg, and in Melbourne, in sufficient quantities to meet current demand. In order to increase production the Company has shipped three additional furnaces from Melbourne to Heinsberg. These additional furnaces will be fully operational in February 2011.
In order to further increase the volume of stacks the Company intends to use larger furnaces already installed at the Heinsberg plant. The Company is continuing to work with the supplier of the large volume furnaces to identify changes needed to ensure the furnaces will produce fuel cell stacks in larger volumes at acceptable quality standards.
During the quarter the Company began the process of transferring the assembly of BlueGen units from its Noble Park research and pilot production plant to the Heinsberg volume production plant, in the same building as the fuel cell stack assembly operation. The Company has expanded the Heinsberg plant, installed assembly and materials handling equipment and hired additional staff. The Heinsberg plant will begin making BlueGen units from late January 2011.
Powder and Cell Supply Agreement
In addition to scaling up its own manufacturing capability, in order to further secure a volume supply of components the Company has entered a volume cell supply agreement with leading German ceramics company HC Starck.
HC Starck is an international group of companies with more than 2,900 employees at 12 production sites in Europe, North America and Asia. HC Starck develops and manufactures a wide range of advanced ceramics products, including fuel cell components. Ceramic Fuel Cells and HC Starck have been working together since early 2008.
Under the agreement HC Starck agrees to supply a minimum volume of fuel cell components at fixed prices, subject to Ceramic Fuel Cells' specification and quality requirements. The Company believes this agreement is an important step in securing its supply chain for critical components, as well as delivering significant cost savings.
In order to make the fuel cell components for supply to CFCL, HC Starck has agreed to order a minimum volume of zirconia powder from Ceramic Fuel Cells' United Kingdom powder plant, located in Bromborough. Ceramic Fuel Cells will supply the zirconia powder at agreed prices and quality specifications.
Victorian Government Feed-in Tariff Review
In June 2010 the previous Victorian Government commenced a review into the expansion of feed-in tariffs to include low-emissions technologies like fuel cells. A feed-in tariff is a rate paid for electricity fed back into the electricity grid from designated electricity generation sources.
In Victoria there is a 'standard' feed-in tariff (equal to the retail price for electricity, or about 20 cents per kilowatt hour) for electricity fed back into the grid from wind, solar, hydro and biomass generators of up to 100 kilowatts capacity; plus a 'premium' feed-in tariff (of 60 cents per kilowatt hour) for solar systems up to 5 kilowatts capacity.
Feed-in tariffs are being used in many markets to encourage the deployment of renewable and low emissions technologies, including the United Kingdom, Germany, France and The Netherlands.
In the November 2010 election the previous Victorian Government was replaced by the Liberal National Coalition. The Liberal National Coalition plan for Energy and Resources, released before the election, includes a policy commitment to "strongly support feed-in tariffs that provide a fair reward and encourage the supply of renewable and low emissions energy into the grid".
According to the policy document, the incoming Government will direct the Victorian Competition and Efficiency Commission (VCEC) to inquire into and report on the design and implementation of a market-based gross feed-in tariff scheme (i.e. a gross feed-in tariff is based on the total amount of electricity generated rather than just the net amount exported). As part of that review VCEC will be asked to examine several possible features of a market-based gross feed-in tariff scheme, including making the tariff available to all solar, wind, fuel cell and other lower emission sources.
The Company is continuing to engage with Government on this issue and looks forward to the VCEC review.
Financial Review
Quarterly Cashflow
Net operating cash outflow for the December quarter was AUD 6.2m (GBP 3.8m) which was higher than last quarter due to increases in inventory requirements and the receipt last quarter of AUD 3.7m (GBP 2.3m) in relation to a legal settlement.
Receipts from customers for the quarter were AUD 1.1m (GBP 0.7m).
The net cash outflow after investing and financing activities for the December quarter was AUD 3.5m (GBP 2.2m).
During the quarter cash outflow from investing activities was AUD 0.6m (GBP 0.4m) for payments relating to the Company's manufacturing plant in Germany including the establishment of the BlueGen assembly operations there.
Cash inflow from financing activities included AUD 3.5m (GBP 2.2m) for the receipt of funds relating to the equity raising undertaken by the company in August / September 2010. This is in addition to AUD 26.7m (GBP 16.6m) that had already been received in the September quarter.
Net operating cash outflow for the financial half year was AUD 7.3m (GBP 4.6m) and includes receipts from customers of AUD 1.7m (GBP 1.0m). Working capital payments for the half year were AUD 6.2m (GBP 3.9m) which were AUD 4.6m (GBP 2.9m) higher then the equivalent period last year. This primarily relates to the purchase of components for both the BlueGen and Integrated m-CHP units that have been purchased to meet current period sales and expected future demand. At 31 December 2010 the value of inventory was AUD 4.9m (GBP 3.1m).
The closing cash balance measured in Australian dollars has been impacted by the strong appreciation in the Australian currency over the last 6 months. The Australian Dollar has appreciated against the pound sterling by 16.2% and the euro by 9.6%. This has given rise to unrealised foreign exchange translation losses of AUD 2.4m (GBP 1.5m) at December on the translation of foreign cash holdings back into Australian dollars for reporting purposes.
Cash at 31 December 2010 was AUD 29.8m (GBP 18.6m).
The quarterly cashflow report is also available on the Company's website at www.cfcl.com.au
For further information please contact:
Ceramic Fuel Cells Limited
24 January 2011
24 January 2011
Ceramic Fuel Cells Limited
Quarterly Cashflow Report and Trading Update
Ceramic Fuel Cells Limited (AIM / ASX: CFU) a leading developer of high efficiency and low emission power products for homes, today released its quarterly cashflow report for the period ended 31 December 2010.
The cashflow report is available at www.cfcl.com.au.
Highlights
-- Conditional order for up to 200 integrated mCHP products - total contract value of up to 4.9 million Euros (AUD 6.6 million) over two years
-- Further sales of BlueGen units - cumulative orders for 62 BlueGen units in many large global markets
-- First BlueGen sale in Italy
-- Hills Industries Limited appointed as BlueGen distributor and national service and support partner in Australia
-- Progress towards product certification for UK feed-in tariff
-- BlueGen assembly transferred from Melbourne to Germany and operational from January 2011
-- Supply agreement with HC Starck secures long term volume supply of fuel cell components at agreed prices
-- Powder sale contract - CFCL's UK plant to supply ceramic powder to HC Starck
Operational Review
Order for 200 integrated products
In December the Company received a conditional order for up to 200 integrated power and heat generators from German energy service provider EWE. This is the largest order the Company has received, with total revenue of up to EUR 4.9 million over two years.
The integrated units use Ceramic Fuel Cells' patented technology to convert natural gas into electricity, hot water and space heating, with the world's highest level of electrical efficiency in small scale generators.
Ceramic Fuel Cells will supply the core Gennex fuel cell module and related components. Ceramic Fuel Cells and its local manufacturing partner, Gebruder Bruns Heiztechnik GmbH, will integrate the fuel cell module with a boiler into an integrated power and heating product for supply to EWE. EWE will then install the units in homes in the Lower Saxony region in northern Germany.
EWE is one of the largest utilities in Germany, with 6,400 staff and revenues of EUR 5.8 billion. Based in Northern Germany, EWE also has operations in other German states as well as Poland and Turkey.
The order is conditional on EWE receiving partial funding under the German government's national hydrogen and fuel cell technology innovation program. This Government program is providing EUR 700 million between 2008 and 2018. EWE has submitted a formal funding application and a positive decision is expected in early 2011.
Subject to EWE obtaining Government funding and to the units meeting agreed performance targets, EWE will order 70 units for delivery in 2011 and 130 units for delivery in 2012. The performance targets, unit prices and the rates for ongoing service and support have been agreed in a contract signed by EWE and Ceramic Fuel Cells.
This is a significant follow-on order from EWE, the Company's longest standing utility customer. The Company is confident that the German government will support the project and we look to updating shareholders in due course.
Apart from Germany, during the December quarter the Company also continued to operate integrated power and heating units with its appliance partners in the United Kingdom and France.
BlueGen sales
Apart from the integrated product, the Company has also developed a modular power and heat generator called BlueGen, to provide low emission power plus heat for hot water. One BlueGen can provide about double the electricity the average home needs - excess power can be exported to the grid - plus hot water for an average family's needs.
Like the integrated product, BlueGen uses the Company's Gennex fuel cell module to achieve electrical efficiency of 60 percent - far higher than any other small scale generator. The Company believes this very high electrical efficiency will deliver significant value to BlueGen customers, and will create a significant competitive advantage in the fast growing global market for small scale power generation.
During the December quarter the Company continued to receive orders for BlueGen units from leading energy companies and other foundation customers.
As at 24 January 2011 the Company has received orders for 59 BlueGen units, from customers in Germany, Switzerland, the United Kingdom, The Netherlands, Italy, Japan, Australia and the USA. A total of 21 BlueGen units are installed and operating in customers' sites.
Highlights during the December quarter and up to date include:
First Order in Italy
The Company has sold its first BlueGen units in Italy, to leading energy company Edison S.p.A. Edison will install one BlueGen unit, initially at its test laboratory and then at its headquarters in Milan. Edison has an option to install two further BlueGen units with Edison customers.
Founded in 1884, Edison is Europe's oldest energy company, with businesses in 10 countries in Europe, Africa and the Middle East. Edison is one of Italy's leading electricity and gas companies, providing 15 percent of Italy's electricity and 17 percent of its natural gas. 2009 revenues were EUR 9 billion. In 2010, Fortune magazine ranked Edison as the "Most Admired Company" in Italy and second worldwide in the energy sector.
The Company believes that Italy will be an ideal market for its products. There are more than 18 million homes connected to natural gas. The Italian Government has introduced several measures to support low emission power generation, including a tax benefit specifically for high efficiency micro-generation from natural gas.
E.ON UK Order
In December the Company sold three BlueGen units to one of the UK's leading energy companies, E.ON. One BlueGen will be installed in early 2011 at the E.ON training centre in Tipton, where E.ON's Property Services department trains its staff in the installation and maintenance of gas and electrical appliances. The other two BlueGen units will be installed at demonstration sites.
The Company believes that the BlueGen installation at the E.ON training centre will be particularly beneficial. Having a well trained network of installers and service technicians is critical to deploying BlueGens and integrated mCHP products in larger volumes, and to receiving accreditation in order to access the UK feed in tariff (discussed below).
In parallel with installing three BlueGen units, Ceramic Fuel Cells and E.ON are continuing to develop fully integrated power and heating products for the UK market. Under a product development agreement signed in 2009, Ceramic Fuel Cells and E.ON have agreed the development stages to move into production of commercial units. The partners are currently discussing the project plan details for the next phase of product development and deployment.
European Orders
During the quarter the Company received further orders from leading Germany energy companies, including EIFER (the European Institute for Energy Research) and EnBW, the third largest utility in Germany, and Gasag, based in Berlin. Gasag has announced that it will invest EUR 50 million in small scale power and heating over the next five years.
During the December quarter BlueGen was accredited by the relevant German Government authority (BAFA) and BlueGen customers in Germany are now eligible to receive the feed in tariff for small power and heating products.
BlueGen units were also independently tested and operated by the German Gas Association (DVGW). The Company is confident that these successful tests, and the continuing very strong interest from German energy companies, will lead to significant further BlueGen sales in Germany.
A BlueGen unit was also successfully tested at Kiwa-Gastec in The Netherlands, and is now installed in the home of a board member of Gasterra, one of the largest gas utilities in The Netherlands. A press release from Gasterra is available at their website - nieuws/berichten/Pages/woning_wordt_echte_elektriciteitsleverancier.aspx
In December the Company's French utility partner, GDF SUEZ, also ordered a BlueGen unit. GDFSUEZ will test and demonstrate the BlueGen in parallel with the existing project to develop an integrated power and heating product for the French market. GDF SUEZ is one of the largest energy companies in the world, with 214,000 staff and 2009 revenue of 79 billion Euros. GDF SUEZ is the largest buyer of natural gas in Europe.
Australian Sales
In November the Company installed the first BlueGen units as part of the order of 30 units from the Victorian Government. The BlueGen is installed in a home in the Melbourne suburb of Hampton East, and is providing electricity and hot water for the home. The Company is continuing to work with the Victorian Government Office of Housing to install the remaining units, in Melbourne and in Shepparton.
Leading Australian energy retailer Origin Energy has offered all tenants who install BlueGen units as part of the Victorian Government project a package of Green Gas plus a one-for-one feed-in tariff for the excess electricity generated by the BlueGen units. This means that a tenant who exports power to the grid will get a credit on their bill equal to the normal retail rate of electricity.
In December the Company installed a BlueGen unit at Adelaide's Central Market, South Australia's most visited tourist attraction. The Adelaide City Council and the South Australian Government have installed the BlueGen unit together with an electric vehicle charging station. This enables city shoppers to recharge their electric vehicles from low emission sources rather than carbon intensive power from the electricity grid. The new station, located in the Central Market car park, is free to users and can charge two vehicles at a time.
The Company believes that BlueGen is an ideal companion to electric vehicles, providing low emission electricity for distributed re-charging stations. The Company is pursuing several opportunities in the fast growing market for electric vehicle recharging infrastructure.
During the quarter the Company also received its first order in Queensland. A BlueGen unit will be installed by the Queensland Department of Public Works, in the Joint Contact Centre in Brisbane.
First BlueGen operating in USA
In November the Company installed the first BlueGen unit in the United States, at a Southern California Gas facility in California. Southern California Gas is the largest gas utility in the USA, with 20 million customers in California, and is part of the Fortune 500 energy services company, Sempra Energy.
BlueGen Distribution and Service in Australia
In January 2011 the Company signed an agreement with Adelaide-based Hills Holdings Limited (ASX: HIL) for Hills to sell and service the BlueGen product. Hills will distribute BlueGen, initially in South Australia, and will also provide installation and after-sales service for BlueGen products Australia-wide.
Hills is a leading manufacturer, distributor and installer of home products including premium solar hot water products. The company had revenues last financial year of AUD 1.1 billion.
The agreement is in line with Ceramic Fuel Cells' strategy to sell BlueGen units in Australia through distributors and to outsource the installation and service of BlueGen units. The agreement with Hills follows similar BlueGen distribution agreements with green products retailer Neco, based in Melbourne, and Harvey Norman's Commercial Division, in NSW and the ACT.
Hills is the Company's first BlueGen service and support partner. The Company is in discussions with potential service and support partners in other markets outside Australia and will make further announcements in due course.
UK Feed in Tariff
Ceramic Fuel Cells is continuing to make progress towards having BlueGen certified under the Microgeneration Certification Scheme ("MCS") in order to access the UK Government's feed in tariff. All microgeneration products must be accredited under MCS in order to be eligible for the UK feed in tariff.
In the December quarter a new MCS standard for electricity led micro combined heat and power units was developed, approved and published. Ceramic Fuel Cells was instrumental in instigating and promoting this new standard which is an essential requirement for accreditation under MCS. The existing standards applied to micro heat and power products which maximised heat output. This new standard applies specifically to micro heat and power products whose primary purpose is to generate electricity, with domestic hot water being an additional output.
During the December quarter the Company also successfully completed a range of tests required by the MCS.
BlueGen was successfully tested under the PAS67 standard - the British Standards Institution standard for tests to determine the heating and electrical performance of micro-cogeneration packages. This testing confirmed that BlueGen provides hot water for domestic use as well as significantly reducing net carbon emissions when compared to a modern condensing gas boiler and electricity from the UK grid. BlueGen was also tested by an independent body for its noise output.
In December the MCS auditor, BRE Global, conducted a factory assessment at Ceramic Fuel Cells' production facility in Melbourne. The Company expects the review of the data provided during this site visit to be completed during the first quarter of 2011. The Company expects this to be the final stage of the process before BlueGen is formally accredited under MCS.
Manufacturing
The Company has built a plant in Heinsberg, Germany for the volume assembly of its fuel cell stacks. All the assembly processes at the plant are fully commissioned and operating, including the ink mixing equipment and the robotic seal dispensing and assembly machines.
The Company is currently making fuel cell stacks in Heinsberg, and in Melbourne, in sufficient quantities to meet current demand. In order to increase production the Company has shipped three additional furnaces from Melbourne to Heinsberg. These additional furnaces will be fully operational in February 2011.
In order to further increase the volume of stacks the Company intends to use larger furnaces already installed at the Heinsberg plant. The Company is continuing to work with the supplier of the large volume furnaces to identify changes needed to ensure the furnaces will produce fuel cell stacks in larger volumes at acceptable quality standards.
During the quarter the Company began the process of transferring the assembly of BlueGen units from its Noble Park research and pilot production plant to the Heinsberg volume production plant, in the same building as the fuel cell stack assembly operation. The Company has expanded the Heinsberg plant, installed assembly and materials handling equipment and hired additional staff. The Heinsberg plant will begin making BlueGen units from late January 2011.
Powder and Cell Supply Agreement
In addition to scaling up its own manufacturing capability, in order to further secure a volume supply of components the Company has entered a volume cell supply agreement with leading German ceramics company HC Starck.
HC Starck is an international group of companies with more than 2,900 employees at 12 production sites in Europe, North America and Asia. HC Starck develops and manufactures a wide range of advanced ceramics products, including fuel cell components. Ceramic Fuel Cells and HC Starck have been working together since early 2008.
Under the agreement HC Starck agrees to supply a minimum volume of fuel cell components at fixed prices, subject to Ceramic Fuel Cells' specification and quality requirements. The Company believes this agreement is an important step in securing its supply chain for critical components, as well as delivering significant cost savings.
In order to make the fuel cell components for supply to CFCL, HC Starck has agreed to order a minimum volume of zirconia powder from Ceramic Fuel Cells' United Kingdom powder plant, located in Bromborough. Ceramic Fuel Cells will supply the zirconia powder at agreed prices and quality specifications.
Victorian Government Feed-in Tariff Review
In June 2010 the previous Victorian Government commenced a review into the expansion of feed-in tariffs to include low-emissions technologies like fuel cells. A feed-in tariff is a rate paid for electricity fed back into the electricity grid from designated electricity generation sources.
In Victoria there is a 'standard' feed-in tariff (equal to the retail price for electricity, or about 20 cents per kilowatt hour) for electricity fed back into the grid from wind, solar, hydro and biomass generators of up to 100 kilowatts capacity; plus a 'premium' feed-in tariff (of 60 cents per kilowatt hour) for solar systems up to 5 kilowatts capacity.
Feed-in tariffs are being used in many markets to encourage the deployment of renewable and low emissions technologies, including the United Kingdom, Germany, France and The Netherlands.
In the November 2010 election the previous Victorian Government was replaced by the Liberal National Coalition. The Liberal National Coalition plan for Energy and Resources, released before the election, includes a policy commitment to "strongly support feed-in tariffs that provide a fair reward and encourage the supply of renewable and low emissions energy into the grid".
According to the policy document, the incoming Government will direct the Victorian Competition and Efficiency Commission (VCEC) to inquire into and report on the design and implementation of a market-based gross feed-in tariff scheme (i.e. a gross feed-in tariff is based on the total amount of electricity generated rather than just the net amount exported). As part of that review VCEC will be asked to examine several possible features of a market-based gross feed-in tariff scheme, including making the tariff available to all solar, wind, fuel cell and other lower emission sources.
The Company is continuing to engage with Government on this issue and looks forward to the VCEC review.
Financial Review
Quarterly Cashflow
Net operating cash outflow for the December quarter was AUD 6.2m (GBP 3.8m) which was higher than last quarter due to increases in inventory requirements and the receipt last quarter of AUD 3.7m (GBP 2.3m) in relation to a legal settlement.
Receipts from customers for the quarter were AUD 1.1m (GBP 0.7m).
The net cash outflow after investing and financing activities for the December quarter was AUD 3.5m (GBP 2.2m).
During the quarter cash outflow from investing activities was AUD 0.6m (GBP 0.4m) for payments relating to the Company's manufacturing plant in Germany including the establishment of the BlueGen assembly operations there.
Cash inflow from financing activities included AUD 3.5m (GBP 2.2m) for the receipt of funds relating to the equity raising undertaken by the company in August / September 2010. This is in addition to AUD 26.7m (GBP 16.6m) that had already been received in the September quarter.
Net operating cash outflow for the financial half year was AUD 7.3m (GBP 4.6m) and includes receipts from customers of AUD 1.7m (GBP 1.0m). Working capital payments for the half year were AUD 6.2m (GBP 3.9m) which were AUD 4.6m (GBP 2.9m) higher then the equivalent period last year. This primarily relates to the purchase of components for both the BlueGen and Integrated m-CHP units that have been purchased to meet current period sales and expected future demand. At 31 December 2010 the value of inventory was AUD 4.9m (GBP 3.1m).
The closing cash balance measured in Australian dollars has been impacted by the strong appreciation in the Australian currency over the last 6 months. The Australian Dollar has appreciated against the pound sterling by 16.2% and the euro by 9.6%. This has given rise to unrealised foreign exchange translation losses of AUD 2.4m (GBP 1.5m) at December on the translation of foreign cash holdings back into Australian dollars for reporting purposes.
Cash at 31 December 2010 was AUD 29.8m (GBP 18.6m).
The quarterly cashflow report is also available on the Company's website at www.cfcl.com.au
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