First fully funded BlueGEN programme in conjunction with iPower Ceramic Fuel Cells Limited

RNS Number : 1456X

Ceramic Fuel Cells Limited

17 November 2014

 
                        17 November 2014 
 
       First fully funded BlueGEN programme in conjunction 
                           with iPower 
 
          Ceramic Fuel Cells Limited (ASX/AIM: CFU) is 
           pleased to announce the commencement of the 
           first fully funded BlueGEN programme, where 
           the BlueGEN is installed at no cost to the 
           end user. The programme, comprising a 100kW 
          fleet of BlueGENs (a minimum of 65 units) is 
        targeted primarily at public sector organisations 
           that can take advantage of the significant 
         carbon and energy savings BlueGEN has to offer. 
        The innovative funding structure allows BlueGENs 
           to be installed in end user premises at no 
          upfront cost. End users pay for the costs of 
           gas and BlueGEN maintenance and receive the 
          benefits of the electricity generated and the 
                  heat recovered for hot water. 
           This programme has been developed and will 
         be run by one of CFCL's UK distributors, iPower 
                    Energy Limited (iPower). 
      iPower has also confirmed its interest in developing 
           a second, larger programme with CFCL in the 
      second half of calendar year 2015. These discussions 
       will include various new appraisals and opportunity 
           pipeline assessments which are expected to 
           take place in parallel with the delivery of 
                      this first programme. 
          The terms of the agreement signed with iPower 
           are conditional on drawdown from a facility 
          provided by a 3(rd) party funder. iPower will 
         make a deposit of GBP350,000 (A$636,000) which 
           is expected to be received by CFCL early in 
         December. In order to meet the criteria imposed 
           by the 3(rd) party funding provider, iPower 
          has secured formal confirmations of interest 
           from participating end users for a majority 
                      of the installations. 
          Bob Kennett, CEO of CFCL, commented, "Earlier 
         this year we announced our intention to revise 
         our sales strategy in order to focus primarily 
          on larger scale projects. We are very pleased 
           to see the first of a number of projects of 
       this type come to fruition. It clearly demonstrates 
          the commercial viability of this contractual 
          structure whereby 3(rd) party funding is used 
          to support the project and provide end users 
                   with attractive benefits." 
           Jon Cape, MD of iPower, commented, "iPower 
          is delighted to be working with CFCL on this 
          ground-breaking initiative. The programme is 
           able to provide customers with net savings 
          of 20-40% on the cost of energy displaced by 
           the BlueGEN with no upfront cost and we see 
         strong potential to progress to a substantially 
        larger Stage 2 Programme for which we are already 
         in dialogue with prospective funding partners." 

Fully funded BlueGen installations for UK social landlords Ceramic Fuel Cells Limited Agreement signed with Energy Services Company iPower

RNS Number : 5643W

Ceramic Fuel Cells Limited

29 January 2013

Tuesday 29 January 2013

Agreement signed with Energy Services Company iPower

Fully funded BlueGen installations for UK social landlords

Ceramic Fuel Cells Limited (AIM / ASX: CFU) a leading developer of generators which use fuel cell technology to convert natural gas into electricity and heat for homes and other buildings, is pleased to announce the signing of a distribution agreement with Energy Services Company (ESCo) iPower Energy Limited (iPower).

CFCL has granted iPower a limited exclusivity on the basis of minimum deliveries of 200 BlueGen units during 2013 and a further 200 BlueGen units during 2014. The exclusivity is limited to the use of BlueGen to provide ESCo services within the social housing sector in the UK.

Tackling fuel poverty

Social enterprise iPower is a UK developer of low carbon projects working with a range of technologies to reduce both energy bills and carbon emissions. iPower is able to offer guaranteed discounts on electricity tariffs to social housing tenants where BlueGen is installed. Installations are offered on a turnkey basis and can be fully funded by iPower who will also supply power and heat to tenants in place of existing suppliers. iPower's aim is to makeclean energy affordable to all and return maximum benefits to property owners and tenants. A majority of its profits are used to help combat fuel poverty and climate change.

Social housing

Following on from recent announcements about installations with housing associations supported by National GridAffordable Warmth Solutions, the agreement with iPower reflects an increased emphasis for CFCL on the deployment of BlueGen in the social housing market, a sector where the cost savings associated with BlueGen's high electrical efficiency can have most effect, particularly in apartment blocks where the electrical output from one BlueGen can be shared between up to four apartments.

CFCL looks forward to continuing to work closely with iPower. iPower will use installation, sales and service partners approved by CFCL in the deployment of BlueGen systems across the UK:

   --      Be Green Systems for London and the South East; 
   --      Ace Energy for the South Coast and South West; 
   --      Green Buy Energy for Yorkshire and the North Midlands; 
   --      Richard Irvin for Scotland; and 
   --      World Heat and Power for the North West and North Wales. 

Bob Kennett, CEO of CFCL commented, "We are delighted to have concluded this initial agreement with iPower and we look forward to developing some key opportunities together in the future".

Jon Cape, CEO of iPower added, "iPower is excited about this opportunity to work with CFCL. The use of BlueGen in social housing offers real scope to bring down fuel bills for the least well off in society. We are already at the detailed design stage with the first large project under this agreement and are attracting Expressions of Interest from a number of Councils and housing associations across the UK".

BlueGen units use ceramic fuel cells to turn natural gas into electricity - as well as heat for hot water - for homes, schools, offices and small commercial buildings. Each BlueGen unit can save up to four tonnes of carbon per year in low carbon homes in the UK when running of natural gas and around twice this amount when using directed biogas purchased over the mains gas grid. The peak electrical efficiency of BlueGen is up to 60 percent, far higher than any other small scale generating technology in the world. With the added benefit of heat, total efficiency is up to 85 percent.

If you are interested in the Bluegen email us on: info@orionair.co.uk or visit: www.orionair.co.uk for more info