Tuesday, 18 March 2014

Parker Air Conditioning And Refrigeration Spare Parts

Parker Air Conditioning And Refrigeration Spare Parts

Parker Refrigeration and Air Conditioning SPARE PARTS DELIVERY WORLDWIDE including USA, Europe, Canada, South and central America, Africa, Australia and most of Asia.

Parker Refrigeration and Air Conditioning  SPARE PARTS DELIVERY WORLDWIDE

We can ship Parker air conditioning and refrigeration spare and parts including controllers, expansion valves, refrigeration valves, refrigerant oil management, refrigerant couplers, level controls, acid pumps, compressors, solenoid valve, air cooled condensing units, pressure switch, remote condensing units, open compressors, transport refrigeration, semi hermetic spare parts, water cooled condensing units parts. Please call or email us your unit model number and required part. We will then contact you with the price, availability and shipping cost.


Call: +44(0)845 567 7080

E-mail: Info@orionair.co.uk 

Friday, 14 March 2014

Case Study of Air conditioning Heat-pump installation at Amey Utilities Waterbeach, Cambridge (14/03/14)

Amey Utilities Office Air Conditioning Case Study

Installation of Amey Utilities office air conditioning heat-pumps:

Orion air conditioning & refrigeration ltd complete the installation of a Fujitsu air conditioning heat-pump heating system for the cabin office building in Waterbeach, Cambridgeshire. The cabin building was in need of revamping due to its age and had 5 areas which needed heating and cooling including a data server room. The building had around 200 meters/squared of area that used a electric convector heating system which was as basic and extremely expensive to run.

Project Pictures:


What air conditioning heat-pumps were installed in Amey Utilities offices and server room:

Background of the Amey Utilities office air conditioning heat-pumps:

The main contractor conducting the refit was P.B Doyles who were quoted on various heating systems including split heat pump systems and replacement electric heaters which came in under budget in comparison to the price of the Fujitsu air conditioning Heat-Pump units but did not offer cooling which the cabin office would need in the summer. The Fujitsu air conditioning heat-pump system provided a great value way of heating a office building within a short space of time (30 mins heat up time) and with little cost and reduces CO2 emissions. The Fujitsu  air conditioning systems offer large capacity heating with excellent COP. The Amey project required individual heating and cooling for each area and split Fujitsu systems offer a affordable way of heating and cooling without the need for centralized air conditioning system.
Office air conditioning VRF Heat-pump efficiency and CO2 emissions:

This office air conditioning heat-pump system took around half an hour to heat fully but once warm the outdoor heat-pump ramped down because the temperature  had been reached therefore just pumping small amounts of heat in to maintain heat. Typical running cost for the year / system £474.50p.

For a list of our client have a look at our About Us section

Call: +44(0)845 5677080          

E-mail: Info@orionair.co.uk

ITM Power plc Injection of Hydrogen into the German Gas Distribution Grid 04 December 2013

RNS Number : 6226U

4 December 2013

("ITM Power" or "the Company")

ITM Power (AIM:ITM), the energy storage and clean fuel company, is pleased to announce that, with its partners Mainova Aktiengesellschaft and NRM Netzdienste Rhein-Main GmbH, the Company has injected hydrogen into the German gas distribution network. The ITM Power rapid response electrolyser plant has been delivered and commissioned ahead of schedule and the compliance and permitting work has been completed to enable the incorporation of hydrogen via the compliant mixing plant.
According to an announcement made in Germany by the Thüga Group:
"During the current commissioning phase of the Thüga Group's power-to-gas demonstration plant, the system injected the first ever electrolytically generated hydrogen into the Frankfurt am Main gas distribution network. This represents the first ever plant to convert electricity into hydrogen and subsequently inject the hydrogen into the German gas distribution network. "The system worked as planned, so much so that we will go into trial operation in the very near future ahead of final commissioning at the start of 2014" Michael Riechel, Member of the Board of Thüga Aktiengesellschaft said.
By the end of 2016, the partners will have gained experience of how the system works under real-world conditions. The project partners are badenova AG & Co. KG, Erdgas Mittelsachsen GmbH, Energieversorgung Mittelrhein GmbH, erdgas schwaben gmbh, ESWE Versorgungs AG, Gasversorgung Westerwald GmbH, Mainova Aktiengesellschaft, Stadtwerke Ansbach GmbH, Stadtwerke Bad Hersfeld GmbH, Thüga Energienetze GmbH, WEMAG AG, e-rp GmbH and Thüga Aktiengesellschaft, which acts as project coordinator. The operational phase will be accompanied by scientific partners, whose involvement is being funded by the Hessian Ministry for the Environment, Energy, Agriculture and Consumer Protection.
H2 Injection without Compression
The core of the system is an ITM Power proton exchange membrane (PEM) electrolyser. The electrolyser converts electrical energy into chemical energy, which in turn facilitates the storage of electricity. A gas mixing plant ensures that the proportion of hydrogen in the natural gas stream does not exceed two per cent by volume, the technically permissible maximum value when a natural gas filling station is situated in the local distribution network. The electrolyser supplies the hydrogen-methane mixture at the same pressure as the gas distribution network, namely 3.5 bar. "We were thus able to avoid using a compressor and save costs," said Riechel.
The plant is located on the premises of Mainova Aktiengesellschaft in Schielestraße in Frankfurt am Main. The project partners decided to deploy a PEM system, as this technology, in comparison with alkaline systems, uses water rather than a potassium hydroxide solution, and is therefore more environmentally friendly. In addition, the system can respond more quickly to changes in the electrical load. A further advantage is the unit'scompact design (2.45m high, 6m long, 3.30m wide, weighing 10 tons). The power consumption of the electrolyser is 315 kilowatts. It produces about 60 cubic meters per hour of hydrogen and thus in one hour can feed 3,000 cubic meters of hydrogen-enriched natural gas into the network.
Power-to-Gas Project Platform
13 companies of the Thüga Group have combined their collective know-how and capital in a project platform to invest jointly in the development of power-to-gas storage technology. The focus is on testing the feasibility of power-to-gas technology. The companies are confident that in the long-term, this offers the greatest potential for storing excess renewable energy. To this end, the group is collectively developing, building and operating its own demonstration plant in Frankfurt am Main over a three-year period (2012 - 2016). The plant converts electricity into hydrogen and then stores this in the gas distribution network. Overall, the partners will invest more than EUR1.5m. The project is financially supported by the Hessian Ministry for the Environment, Energy, Agriculture and Consumer Protection. Following the first phase of this project, the partners will consider a second project, in which hydrogen will be generated and combined with carbon dioxide to form synthetic methane to be directly injected and stored in the natural gas grid. For more information see www.energie-und-wende.de."
ITM Power has deployed its PEM Electrolysis P2G plant at the Mainova Aktiengesellschaft site in Schielestrasse, Frankfurt am Main where the compliant gas mixing and grid injection infrastructure designed and built by NRM was already in place. This plant is part of the Thüga Group's Power-to-Gas (P2G) project as previously reported, which was jointly commissioned by 13 partners within the Thüga Group to investigate P2G energy storage. The install also includes a monitoring facility and visitor's reception so that members of the Thüga Group can examine the performance of the plant.
Phil Doran, MD of ITM Power GmbH commented: "ITM Power is delighted to be have performed the first ever injection of hydrogen into the German gas grid using a PEM electrolyser with our partners in the Thüga Group, and look forward to the official commissioning early next year."

ITM Power plc Five hydrogen refuelling sites approved for planning on the Isle of Wight 07 February 2014

07 February 2014
7(th) Febuary2014
ITM Power plc
("ITM Power", "the Group" or the "Company")
Five hydrogen refuelling sites approved for planning on the Isle of Wight
ITM Power, the energy storage and clean fuel company is pleased to announce achievement of planning permission for five hydrogen refuelling sites on the Isle of Wight.
ITM Power has been granted planning permission for an 80kg/day hydrogen refuelling station at four locations and at one for a 15kg/day marine refuelling station. All planning applications submitted on the Isle of Wight have been successful. ITM has chosen two of these sites to take forward for installation of hydrogen refuellers ready for operation in November 2014, as part of the EcoIsland Hydrogen Vehicle Refueller project on the Isle of Wight, supported by funding from the UK's innovation agency, the Technology Strategy Board.
The approvals process involved several stages including the identification of candidate sites prior to conducting a detailed survey, preparation of plans together with a Design and Access Planning Statement and liaison with stakeholders including the Isle of Wight Council and the Environment Agency.
The sites surveyed included two owned by Vestas; one being their R&D centre at Stag Lane and the other Monks Brook, one operated by Scotia Gas Networks in East Cowes, and one at the St Cross Business Park, Newport. The marine refueller is to be sited on the dock-side at Cheetah Marine in Ventnor. ITM Power has decided to proceed with the site owned by Scotia Gas Networks, providing an opportunity to further develop commercial links with SGN.
ITM Power sits on three Working Groups of the ISO Technical Committee 197, which has as its stated scope the standardization in the field of systems and devices for the production, storage, transport, measurement and use of hydrogen. Furthermore, ITM Power sits on the British Compressed Gas Association Technical Steering Committees with particular emphasis on Code of Practice 41, which addresses "The Design, Construction, Maintenance and Operation of Filling Stations Providing Gaseous Fuels".
Dr Graham Cooley, Chief Executive of ITM Power, said: "The expertise required to achieve planning permission and satisfy compliance bodies is often underestimated. I am delighted that ITM has been successful in gaining approval to commence the build of two hydrogen refuelling stations on the Isle of Wight. Furthermore, the continued support from the Isle of Wight council and their determination to become a prime location for hydrogen fuel cell vehicle deployment provides a fantastic backdrop to this exciting project."

ITM Power plc Result of General Meeting and Placing to Raise GBP10 million 21 February 2014

RNS Number : 6472A
21 February 2014
21 February 2014
ITM Power plc
("ITM Power" or the "Company")
Result of General Meeting and Placing to Raise GBP10 million
The Board of ITM Power (AIM:ITM.L) is pleased to announce that at the General Meeting held earlier today, all resolutions in connection with the placing of 33,333,333 new ordinary shares at a price of 30p, announced on 31 January 2014 and raising gross funds of GBP10 million for the Company, were duly passed.
Application has been made for the placing shares to be admitted to trading on AIM, and this is expected to occur on 24 February 2014.
 ITM Power plc 
  Graham Cooley, CEO                  0114 244 5111 
 Zeus Capital 
  Tim Metcalfe (Nominated Adviser) 
  John Goold (Institutional Sales)    020 7533 7727 
 Tavistock Communications 
  Simon Hudson / James Collins        020 7920 3150 
About ITM Power plc
ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004. The Company has now made the transition from a research and development company to a product manufacturer and technology provider. The Company has both a strong base of intellectual property and engineering expertise for providing complete hydrogen solutions.
This information is provided by RNS

Wednesday, 12 March 2014

Peer Review Journal Publication of Acta's core electrolysis technology

RNS Number : 6864V
Acta S.p.A.
17 December 2013
 Press release   17 December 2013 
Acta S.p.A.
("Acta" or "the Company")
Peer Review Journal Publication
Acta S.p.A. (AIM: ACTA), the clean energy products company, is pleased to announce that a research paper prepared by the Company's scientists and describing the nature and benefits of Acta's core electrolysis technology has been published by the prestigious review journal, Angewandte Chemie International Edition.
Angewandte Chemie is one of the world's leading general chemistry journals, with an Impact Factor higher than comparable journals(1) . Publication of the paper represents a significant scientific recognition of the technology developed by Acta over many years and of the outstanding results achieved both within its research labs and in practical applications.
Through the published work, Acta's scientists have demonstrated that very high efficiency and stability can be achieved by an electrolyser without the aid of platinum metal group electro-catalysts and by using cost effectivealternatives. Moreover, they showed that the system is effective for applications with intermittent power sources, such as renewable energy.
The paper has been published as a "Communication", which are papers that have been critically selected by the journal for publication following a detailed peer review and which report on the latest research results in chemistry. It will appear in printed form in a future edition of the journal.
Paolo Bert, Chief Executive of Acta, commented:
"This is the first scientific paper that we have produced on our technology and it has been accepted for publication by one of the leading general chemistry journals in the world. I would like to congratulate our scientific team on achieving this important recognition of their outstanding work."
Acta's research paper, entitled "Highly Efficient Platinum Group Metal Free Based Membrane-Electrode Assembly for Anion Exchange Membrane Water Electrolysis", has now been published online (http://dx.doi.org/10.1002/anie.201308099). (1) The Impact Factor of an academic journal is a measure reflecting the average number of citations to recent articles published in the journal (Source: Wikipedia). See "About Angewandte Chemie" below.

Sale of Acta Power System in Singapore 27 November 2013

RNS Number : 0063U
Acta S.p.A.
27 November 2013
 Press release   27 November 2013 
Acta S.p.A.
("Acta" or "the Company")
Sale of Acta Power System in Singapore
Acta S.p.A. (AIM: ACTA), the clean energy products company, is pleased to announce that it has sold an Acta Power renewable energy storage system, plus installation and training services, to the Maritime and Port Authority of Singapore for installation at the famous Raffles Lighthouse on the island of Pulau Satuma, built in 1854 and one of the oldest operational lighthouses in the world.
The Acta Power system will be used to store renewable energy from solar and wind turbine and will provide power for the four lighthouse staff permanently located on the island. The installation is intended to help the Government to promote the environmental profile of the island, while also allowing evaluation of renewable energy storage solutions for wider off-grid applications.
The system, using renewable power and filtered rainwater, will generate 1 m3 / h of hydrogen at 30 Bar pressure, and will produce 4kW / h of electricity via its fully integrated fuel cell module. Including ancillary systems, installation, training and support, the sale represents the largest single product sale received by the Company to date. Shipment of the system is expected by the end of 2013 with installation to be completed during the first quarter of 2014.
Raffles Lighthouse is open daily for guided tours and is used by Government officials as a retreat. The Company therefore believes that the installation will receive a high level of visibility among Singaporean government officials and other visitors.
Paolo Bert, Chief Executive of Acta, commented:
"In tandem with the progress we are making in the telecom back-up power sector, we are pleased to receive this first order for the installation of an Acta Power for a renewable energy storage application for powering off-grid communities. We are receiving significant levels of interest for this type of application and we hope that this evaluation will open the door to large scale installations in developing countries."

Acta Power System Summary and Outlook 28 January 2014

RNS Number : 6300Y
Acta S.p.A.
28 January 2014
 Press release   28 January 2014 
Acta S.p.A.
("Acta" or "the Company")
Trading and business update
Acta S.p.A. (AIM: ACTA), the clean energy products company, announces a trading and business update ahead of the publication of its results for the year ended 31 December 2013.
Current Trading
-- Rapid development in customer trials for the Acta Power system with strong levels of commercial interest
-- Five Acta Power units sold: two tested, approved and installed on live sites for final evaluation, two tested and approved with live site evaluation due to commence shortly and one being used for demonstration purposes
-- CE Certification for the Acta Power secured ahead of year-end, in readiness for commercial roll-out
-- Larger "network evaluations" of the Acta Power system are currently under negotiation. Initial network installations are expected to be typically of 50 to 150 units per customer network with up to 50 units in the first call-down
-- Based on the timing indications received from Acta's partners, it is anticipated that the first telco approved product certifications for the Acta Power will be granted early in the second quarter of 2014, with network evaluation contracts to follow shortly thereafter
-- Further expansion of Acta's production facility underway targeting capacity of 40 Acta Power units per month for H2 2014
-- 2013 revenue is expected to be in excess of EUR400,000, well ahead of comparable revenues from products and research services in 2012 (EUR233,000), despite slower than forecast sales conversions
-- Expected operating loss in the region of EUR1.2 million (including share option cost reversal of EUR2.4 million as previously announced)
   --    Year end cash of EUR2.1 million 
Summary and Outlook
Paolo Bert, Chief Executive Officer, commented:
"The launch of the Acta Power system in 2013 has been a significant milestone for the Company and has enhanced Acta's brand profile in the marketplace and greatly increased its commercial opportunities. The system performs well and is gaining recognition for the unique benefits that it offers. Customer evaluations and system trials are proceeding with considerable success, notwithstanding delays due to customer installation procedures and logistical requirements.
The Company's key activities now range across the back-up power and renewable energy storage sectors together with electrolyser sales into a number of different applications. We continue to focus on high volume applications with strong economic drivers, and believe that the coming year will see substantial progress in the adoption of our products through our growing network of customers and commercial partners."
The Preliminary Results announcement is expected to be made on or around 26 March 2014.

(AIM: ACTA) The Clean Energy Products Company Cooperation Agreement with ReliOn 13 February 2014

RNS Number : 9521Z
Acta S.p.A.
13 February 2014
 Press release   13 February 2014 
Acta S.p.A.
("Acta" or "the Company")
Cooperation Agreement with ReliOn
Acta S.p.A. (AIM: ACTA), the clean energy products company is pleased to announce the signing of a wide-ranging cooperation agreement (the "Agreement") with ReliOn Inc. ("ReliOn"), one of the largest fuel cell manufacturers in the world specialising in back-up power systems for telecom, government and transportation applications. The Agreement gives Acta a broader commercial offering and a second supplier of key fuel cell components.
Today's Agreement follows the completion of a new Acta Power back-up power system incorporating ReliOn's fuel cell system, which has been designed with a 23" rack, the standard unit size for the US market. The Agreement covers the launch, promotion, production, commercialisation and distribution of the 23"-rack Acta Power HT.
As the market leader for telecom back-up power in North America, ReliOn is well positioned to partner and support the introduction of Acta's products into the US market. ReliOn will promote the new system in North America, whilst Acta will promote the system in all other markets in parallel with its FutureE / Ballard system.
Paolo Bert, Chief Executive Officer, Acta, commented:
"Today's Agreement marks further commercial progress for the Acta Power since its launch under a year ago. Through our partnership with ReliOn we look forward to collaborating on further product development for additional applications, and to the penetration of the Acta Power into the North American market."
Joe Blanchard, Chief Operating Officer, ReliOn, commented:
"The Agreement incorporating Acta's hydrogen electrolyzer with ReliOn's fuel cell products offers our customers an additional fueling solution, enabling them to address the requirements of equipment locations that have been challenging to this point. We look forward to jointly introducing the Acta Power HT to a variety of global markets."
The new Acta Power HT will be officially launched at the Mobile World Congress conference, the world's largest mobile and telecom exhibition, in Barcelona on 24-27 February, where it will be jointly promoted by Acta and ReliOn in Acta's stand, Hall 7, Stand 7M08.

Wednesday, 5 March 2014

Ceramic Fuel Cells Limited Consolidated Statement of Comprehensive Income For the half-year ended 31 December 2013

Consolidated Statement of Comprehensive Income For the half-year ended 31 December 2013

                      Notes                                 2013                   2012 
                                                               $                      $ 
 Revenue from continuing operations           2        3,425,937              2,589,355 
 Cost of sales, service & warranty            4      (4,893,906)            (3,844,625) 
                                                  --------------  --------------------- 
 Gross profit/(loss)                                 (1,467,969)            (1,255,270) 
 Other income                                 3          421,216                471,916 
 Research & Product Development                      (3,933,071)            (4,297,603) 
 Manufacturing                                       (1,540,820)              (958,597) 
 General & Administration                            (4,129,040)            (4,952,071) 
 Sales & Marketing                                   (1,860,516)            (1,197,433) 
 Impairment Reversal / (Charge)                        1,973,570              (342,297) 
 Other Gains / (Losses) - Foreign 
  exchange                                             (866,662)               (41,430) 
 Finance costs                                         (447,505)               (36,497) 
 Loss before income tax                             (11,850,797)           (12,609,282) 
 Income tax benefit                                    4,022,582                      - 
                                                  --------------  --------------------- 
 Loss for the half-year entirely 
  attributable to members of Ceramic 
  Fuel Cells Limited                                 (7,828,215)           (12,609,282) 
 Other comprehensive income 
 Items which may be reclassified 
  to profit or loss 
 Exchange differences on translation 
  of foreign operations                                1,408,090                759,294 
 Other comprehensive income for 
  the half-year, net of tax                            1,408,090                759,294 
 Total comprehensive income/(expense) 
 for the half-year entirely attributable 
 to members of Ceramic Fuel Cells 
 Limited                                             (6,420,125)           (11,849,988) 
                                                  ==============  ===================== 
                                                           Cents                  Cents 
 Earnings per share for loss attributable 
 to the ordinary equity holders 
 of the company 
 Basic and diluted earnings per 
  share                                       15          (0.49)                 (0.86) 
The above consolidated statement of comprehensive income should be read in conjunction with the accompanying notes.
Consolidated Balance Sheet
As at 31 December 2013
                                                    31 December         30 June 
                                        Notes              2013            2013 
                                                              $               $ 
 Current Assets 
    Cash and cash equivalents             5           9,034,469      10,010,131 
    Trade and other receivables           6           1,994,070       1,355,437 
    Inventories                           7          12,462,287       9,974,671 
    Other                                               368,044         825,506 
                                               ----------------  -------------- 
    Total Current Assets                             23,858,870      22,165,745 
                                               ----------------  -------------- 
 Non-Current Assets 
    Plant and equipment                              11,070,983      10,923,676 
    Intangible assets                                     1,000           1,000 
    Other                                               235,551         235,551 
                                               ----------------  -------------- 
    Total Non-Current Assets                         11,307,534      11,160,227 
                                               ----------------  -------------- 
 Total Assets                                        35,166,404      33,325,972 
                                               ----------------  -------------- 
 Current Liabilities 
    Trade and other payables                          3,266,882       2,328,053 
    Borrowings                            8             360,065       6,145,958 
    Derivative financial instruments      9                   -         663,878 
    Provisions                           10           2,896,219       3,406,824 
    Other liabilities                    11             926,693         862,431 
                                               ----------------  -------------- 
    Total Current Liabilities                         7,449,859      13,407,144 
                                               ----------------  -------------- 
 Non-Current Liabilities 
    Borrowings                            8           7,407,152         854,947 
    Derivative financial instruments      9             758,690               - 
    Provisions                           10           2,613,025       1,632,758 
    Other liabilities                    11           1,742,115       1,684,801 
                                               ----------------  -------------- 
    Total Non-Current Liabilities                    12,520,982       4,172,506 
                                               ----------------  -------------- 
 Total Liabilities                                   19,970,841      17,579,650 
                                               ----------------  -------------- 
 Net Assets                                          15,195,563      15,746,322 
                                               ================  ============== 
    Contributed equity                  13(b)       295,520,243     289,650,877 
    Reserves                                          3,735,332       2,327,242 
    Retained profits/(losses)                     (284,060,012)   (276,231,797) 
                                               ----------------  -------------- 
 Total Equity                                        15,195,563      15,746,322 
                                               ================  ============== 
The above consolidated balance sheet should be read in conjunction with the accompanying notes.
Consolidated Statement of Changes in Equity
For the half-year ended 31 December 2013
                                                    Entirely attributable to owners 
                                                      of Ceramic Fuel Cells Limited 
                                  Note   Contributed    Reserves        Retained          Total 
                                              equity                    earnings         equity 
                                                   $           $               $              $ 
 Balance at 1 July 
  2012                                   277,282,387      68,950   (256,454,181)     20,897,156 
 Profit/(loss) for 
  the half-year                                    -           -    (12,609,282)   (12,609,282) 
 Other comprehensive 
  income                                           -     759,294               -        759,294 
                                        ------------  ----------  --------------  ------------- 
 Total comprehensive 
  income for the 
  half-year                                        -     759,294    (12,609,282)   (11,849,988) 
 Transactions with 
  owners in their 
  capacity as owners 
 Contributions of 
  equity, net of 
  transaction costs                       11,085,544           -               -     11,085,544 
 Employee shares 
  - value of employee 
  services                                   190,440           -               -        190,440 
 Employee share 
  options - value 
  of employee services                             -      41,342               -         41,342 
 Balance at 31 December 
  2012                                   288,558,371     869,586   (269,063,463)     20,364,494 
 Balance at 1 July 
  2013                                   289,650,877   2,327,242   (276,231,797)     15,746,322 
 Profit/(loss) for 
  the half-year                                    -           -     (7,828,215)    (7,828,215) 
 Other comprehensive 
  income                                           -   1,408,090               -      1,408,090 
                                        ------------  ----------  --------------  ------------- 
 Total comprehensive 
  income for the 
  half-year                                        -   1,408,090     (7,828,215)    (6,420,125) 
 Transactions with 
  owners in their 
  capacity as owners 
 Contributions of 
  equity, net of 
  transaction costs              13(b)     5,517,155           -               -      5,517,155 
 Conversion of loan 
  notes                                      335,514           -               -        335,514 
 Employee shares 
  - net value of 
  services provided/(reversed 
  on forfeiture)                 13(b)       (6,520)           -               -        (6,520) 
 Employee shares 
  - net proceeds 
  from sale of forfeited 
  shares                                      23,217           -               -         23,217 
 Balance at 31 December 
  2013                                   295,520,243   3,735,332   (284,060,012)     15,195,563 
                                        ============  ==========  ==============  ============= 
The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes.
Consolidated Statement of Cash Flows

Ceramic Fuel Cells Limited For the half-year ended 31 December 2013

For the half-year ended 31 December 2013
                                           Notes             2013            2012 
                                                                $               $ 
 Cash Flows from Operating Activities 
 Receipts from customers 
  (inclusive of goods and services 
  tax)                                                  4,460,820       4,940,759 
 Payments to suppliers and employees 
  (inclusive of goods and services 
  tax)                                               (16,120,985)    (14,346,414) 
                                                  ---------------  -------------- 
                                                     (11,660,165)     (9,405,655) 
 Grant receipts (repayments)                             (27,659)               - 
 Other receipts                                           412,928         363,596 
 Income tax refunds received 
  (taxes paid)                                          4,022,582               - 
 Net cash inflow (outflow) from 
  operating activities                                (7,252,314)     (9,042,059) 
                                                  ---------------  -------------- 
 Cash Flows from Investing Activities 
 Payments for plant and equipment                       (148,924)       (151,353) 
 Proceeds from disposal of plant 
  and equipment                                         1,973,572             270 
 Decrease (increase) in security 
  deposits (including restricted 
  cash equivalents)                                        14,189          49,157 
                                                  ---------------  -------------- 
 Net cash inflow (outflow) from 
  investing activities                                  1,838,837       (101,926) 
                                                  ---------------  -------------- 
 Cash Flows from Financing Activities 
 Proceeds from issue of shares                          4,197,227      11,625,282 
 Proceeds from sale of forfeited 
  employee shares                                          23,363               - 
 Share issue costs                                        (6,234)       (539,314) 
 Forfeited employee shares disposal 
  costs                                                     (146)               - 
 Proceeds from borrowings - convertible 
  loan notes                                              339,041               - 
 Convertible loan note issue 
  costs                                                  (86,890)               - 
 Repayment of borrowings - finance 
  lease                                                 (172,192)       (133,764) 
 Interest received                                         33,336         109,413 
 Interest paid on borrowings 
  - convertible loan notes                              (300,591)               - 
 Interest paid on borrowings 
  - finance lease                                        (33,990)        (36,497) 
 Net cash inflow (outflow) from 
  financing activities                                  3,992,924      11,025,120 
                                                  ---------------  -------------- 
 Net increase (decrease) in cash 
  and cash equivalents                                (1,420,553)       1,881,135 
 Cash and cash equivalents at 
  the beginning of the half-year                       10,010,131       6,621,759 
 Effects of exchange rate changes 
  on cash and cash equivalents                            444,891         120,878 
                                                  ---------------  -------------- 
 Cash and cash equivalents at 
  the end of the half-year                     5        9,034,469       8,623,772 
                                                  ===============  ============== 
The above consolidated statement of cash flows should be read in conjunction with the accompanying notes.
Notes to the Consolidated Financial Statements
For the half-year ended 31 December 2013
Note 1. Basis of Preparation of Half-Year Report
This condensed consolidated interim financial report for the half-year reporting period ended 31 December 2013 has been prepared in accordance with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Act 2001. Accounting Standard AASB 134 is fully compliant with International Financial Reporting Standard IAS 34 Interim Financial Reporting.
This condensed consolidated interim financial report does not include all the notes of the type normally included in an annual financial report. Accordingly, this report is to be read in conjunction with the annual report for the year ended 30 June 2013 and any public announcements made by Ceramic Fuel Cells Limited during the interim reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001.
The accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period.
The financial report has been prepared on a going concern basis.
Going Concern
Over the life of the Group it has incurred substantial operating losses and is yet to become cashflow positive at an operational level. The Directors are mindful of this and continue to closely monitor the level of the Company's cash resources.
The Group has commercialised its fuel cell technology into products and has begun to make sales, but it has not yet achieved sales and production levels that allow the Group to generate positive operating cashflow or profits. The Company is thus reliant on the further raising of capital (debt or equity) in order to enable it to continue its research and product development and to implement its sales and production strategies.
These factors represent uncertainty about the ability of the Group to continue as a going concern. The Directors have considered these factors and believe it is appropriate to prepare the financial statements on a going concern basis given the following strategies:
Operational and business strategies
The Company continues its focus on increasing the number of sales orders received and intends to produce to order rather than to anticipated sales demand. It also continues to make significant inroads in reducing the cost per unit.
During this reporting period, the Company announced that the Governments in the German states of Saxony and Hesse had established funding programmes to support the deployment and development of mCHP's. These are in addition to the Government of North-Rhine Westphalia (NRW)'s funding programme. Whilst uptake of these programmes is often slowed by bureaucracy, it is anticipated that they will assist the Company in meeting its sales targets and will assist in reducing the net price of a BlueGEN unit for the end user.
Management and the Board's recent focus had been to secure orders and deliver and install the products in order to convert these orders into revenue and cashflow. Management and the Board are taking steps to increase sales more quickly by implementing more aggressive marketing and pricing strategies.
The Company continues to take measures to reduce the unit cost of the BlueGEN. These measures include: outsourcing production of components to high quality, lower cost, specialist manufacturers, and undertaking cost-down engineering work.
Financing strategies
The Company has been successful in raising funds in the past and in December 2013 raised $5.8M (GBP3.3M) before expenses via a Share Purchase Plan and an Overseas Offer. A$4.2M (GBP2.4M) of this was received in December and A$1.6M (GBP0.9M) in early January 2014.
The Company was also successful in selling the assets of its UK Powder Plant in December 2013 for GBP1.2M (A$1.9M). The powder produced by the plant was no longer being used by the Company and hence a decision was made to realise a surplus asset. This amount was received in December 2013.
Notes to the Consolidated Financial Statements
For the half-year ended 31 December 2013 (continued)
As previously mentioned, the Company is currently pursuing several funding options to strengthen its balance sheet and to allow it to continue its research and product development programme whilst it implements its sales and production strategies. As advised to the market, the Board has approved a fundraising of at least GBP3 million pounds to occur during March 2014, GBP1 million of which will be contributed by the Company's Chairman, Alasdair Locke. Discussions with prospective parties are significantly advanced and further details of the capital raise will be announced to the market in the near future. This capital raise will require approval by shareholders at an Extraordinary General Meeting. Depending on the amount of capital raised and the success of both the Company's sales programme and its restructuring activities, a further capital raise is likely to be required in the second half of CY2014.
The Heinsberg capital expansion programme is on hold until further capital is raised.
The Managing Director is in the process of restructuring the Company to drive down its costs significantly and to focus on larger volume sales orders rather than individual unit sales. An example of this is the order received from Avilos (referred to previously). Securing sales such as these will assist in reducing inventory and provide working capital to sustain the research and product development activities and to enable the Company to produce to order rather than hold high inventory levels.