Ceramic Fuel Cells Limited ACN 055 736 671 (ASX Code: CFU) - Cleansing notice given

RNS Number : 5082W

Ceramic Fuel Cells Limited

30 December 2013

Market

Announcement

Monday 30 December 2013

The Manager

ASX Market Announcements Office

Ceramic Fuel Cells Limited ACN 055 736 671 (ASX Code: CFU) - Cleansing notice given under section 708A(5)(e) of the Corporations Act 2001 (Cth)

Section 1 - Background

As announced on 4 December 2013, Ceramic Fuel Cells Limited ACN 055 736 671 (Company) made an offer to existing eligible shareholders of the Company in Europe (Shareholders) to subscribe for up to 193,542,793 new fully paid ordinary shares in the capital of the Company (Shares) at 2.14 pence per share to raise a maximum of EUR5 million (approximately A$7.44 million) (Overseas Offer).

The Company received applications from Shareholders totaling EUR1.04 million (approximately A$1.6 million) under the Overseas Offer, and issued 41,134,062 Shares (Overseas Offer Shares) on 27 December 2013 to those Shareholders from whom applications were received.

The Overseas Offer Shares were issued by the Company without disclosure to investors under Part 6D.2 of the Corporations Act 2001 (Cth) (Act). Accordingly, the Company gives this notice under section 708A(5)(e) of the Act. As required by section 708A(6)(a) of the Act, this notice is given to the ASX within 5 business days after the day on which the Overseas Offer Shares were issued by the Company.

As at the date of this notice, the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company and section 674 of the Act.

To the extent to which it is reasonable for investors and their professional advisors to expect to find it in a disclosure document, Section 2 contains all information as at the date of this notice:

1. that has been excluded from a continuous disclosure notice to be given to the ASX in accordance with the ASX Listing Rules; and

2. that investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:

a. the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

   b.    the rights and liabilities attaching to the Shares. 

Other than as set out in Section 2, there is no information as at the date of this notice:

1. that has been excluded from a continuous disclosure notice to be given to the ASX in accordance with the ASX Listing Rules; and

2. that investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:

a. the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

   b.    the rights and liabilities attaching to the Shares. 

This cleansing notice is important and should be read in its entirety.

Section 2 - INFORMATION EXCLUDED FROM CONTINUOUS DISCLOSURE NOTICES

On 28 November 2013, the Company announced that it had appointed Synergy International as its distributor for the Baltic States and Scandinavia. Under the terms of the agreement, Synergy International was to pay for 50% of the first 500 units by the end of December 2013. The Company has been working through the formal banking process with Synergy International and its bankers, which has been delayed due to the current holiday period. The payment is now due by the end of January 2014 and the agreement has been amended accordingly.

Other than the above, there is no additional information.

...............................................

Bob Kennett

Managing Director

Ceramic Fuel Cells Limited CFU organisation change to focus on Europe

TIDMCFU

RNS Number : 6530O

Ceramic Fuel Cells Limited

15 October 2012

Monday 15 October 2012

CFCL Strengthens Sales Resources in Germany

Aligns activities in Australia

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, announces that it is continuing to invest in measures to quickly increase sales in Germany.

We are pleased to announce that Mr Andreas Ballhausen has joined Ceramic Fuel Cells' European management team as Commercial Director. Mr Ballhausen will be responsible for leading our business development, sales and customer service activities in Germany.

Mr Ballhausen joins Ceramic Fuel Cells from leading German energy utility EWE, where he has held various senior management positions since 1996. Most recently Mr Ballhausen was in charge of establishing and running EWE'sbusiness unit selling energy services and contracting solutions for households, industry and communities.

Mr Ballhausen has extensive experience with fuel cells and micro combined heat and power products, having led EWE's project to evaluate, install and operate fuel cell products from a number of suppliers over many years. EWE was Ceramic Fuel Cells' first customer in Germany, and has been testing and operating our products since 2006. Mr Ballhausen is also a member of various committees in the energy sector, including the German Fuel Cell Initiative (IBZ).

"We are delighted that Andreas Ballhausen has chosen to join Ceramic Fuel Cells. His expertise in the field of fuel cell technology and his many years of experience in sales of CHP technologies are a tremendous asset to ourCompany," said Brendan Dow, Managing Director of Ceramic Fuel Cells.

"I'm looking forward to the new responsibilities at Ceramic Fuel Cells. High-efficiency micro-CHP systems can make a significant contribution to the success of renewable energy in Germany and in Europe. Ceramic Fuel Cells' BlueGen product offers an outstanding micro fuel cell power plant, and I look forward to driving our sales effort with a lot of passion," said Mr Ballhausen.

Earlier this month Ceramic Fuel Cells announced that 25 of its BlueGen gas-to-electricity units are being used to power Germany's first commercial, virtual fuel cell power plant.

The virtual power plant was officially opened on Tuesday 2 October by Mr Peter Altmaier, Germany's Federal Minister for the Environment, Mr Johannes Remmel, Minister for the Environment in the state of North Rhine-Westphalia, together with Mr Bernd Wilmert, Chairman of the Board of the municipal utility network Trianel, and Sven Becker, CEO of Trianel.

During the opening ceremony at the Eurogress congress centre in Aachen, Mr Altmaier declared that distributed electricity generation and energy efficiency, along with a coordinated expansion of renewable energies and electricity grids on a national level, are central elements of the electricity market of tomorrow: "Virtual power plant networks are progressive milestones on the way to a successful energy reform," Altmaier said.

To underline the Company's further support for its European activities we have realigned the structure of our headquarters in Noble Park Melbourne to more effectively support our European markets. The changes, along with outsourcing of cell production are expected to result in annualised ongoing cost savings of approximately AUD 5 million and a reduction in headcount since 1(st) July this year of 56 staff.

Brendan Dow CFCL's Managing Director said "We are quickly aligning our corporate structure and operational activities to reduce overhead costs and to focus our resources on markets where we believe we can achieve immediate and significant sales growth - Germany, the UK and the Benelux markets. In the short term we are reducing our direct sales resources in other markets, Australia, Japan and North America."

Ceramic Fuel Cells achieved solid sales growth over the last financial year. The number of BlueGen and integrated mCHP units sold increased by 177 percent, and revenue increased by 82 percent to AUD 6.7 million in FY12. 

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 ?

Ceramic Fuel Cells (CFCL) extend microgeneration collaboration

02 February 2009 12:12
E.ON and

Ceramic Fuel Cells (Europe) Limited, a subsidiary of Ceramic Fuel Cells Limited (ASX / AIM: CFU), a global leader in fuel cell development, and E.ON, have extended their exclusive agreement to further develop and deploy fuel cell micro combined heat and power (mCHP) units in Great Britain .
Under the terms of the new agreement, E.ON and CFCL will collaborate on a joint development project to commercialise mCHP units designed specifically for the Great Britain market, based on CFCL's GENNEX fuel cell module. The commercialisation project is currently scheduled to run from 2009 to 2012 in a number of stages subject to performance criteria, with the Great Britain market launch expected to follow thereafter.

Subject to CFCL's achievement of agreed price and performance targets, E.ON and CFCL have agreed a potential future order profile, which would secure 'E.ON's exclusive distribution rights for CFCL micro CHP units within Great Britain. A minimum order of 100,000 units over six years from 2012 would be required for E.ON to continue to retain exclusivity.

Charles Bradshaw-Smith, Head of Innovation at E.ON, said:

"The agreement with CFCL reflects two years' hard work to achieve a unit with a technical performance that has met all our targets. We are now pleased to commit funding and resources, subject to the attainment of agreed milestones, to roll out a commercial unit, building on CFCL's market-leading technology. This technology signals that cleaner, more cost-effective energy in the UK home is closer than ever before."

Commenting, Brendan Dow, Managing Director of Ceramic Fuel Cells, said:

"We are delighted that E.ON, one of the leading energy companies in Europe, has chosen to extend their agreement with CFCL. This is a key endorsement and represents significant progress. This provides us with additional funding to develop commercial products, as well as strong support for future market launch and development. This reinforces CFCL as the market leader in solid oxide fuel cells with a clear path to commercialisation. CFCL continues to work with utility partners across Europe to roll out commercial units to all their customers."

CFCL and E.ON expect that the highly efficient new mCHP units would be able to power a wide range of homes and help to reduce carbon emissions in Great Britain.

This agreement follows the successful completion of the first phase of the partners' product development, in which an ‘Alpha' prototype unit, comprising a CFCL NetGenPlus unit integrated with a supplementary boiler, was installed and operated.

The Alpha unit successfully met all of E.ON's performance and lifetime requirements, exporting just under 1kW of power to the local UK grid at high efficiency and generating enough heat for an average UK home's hot water needs. The unit was installed in June 2008 and has been continuously running (on the same fuel cell stack) at the Blackpool facilities of CFCL's appliance partner ever since.

BACKGROUND TO UK MARKET

The UK Government is strongly supportive of microgeneration. Energy industry leaders and Government Ministers have agreed that CHP must play a more prominent role in the United Kingdom's transition to a low-carbon economy. The Energy Act 2008 will introduce a Feed-in-Tariff for small-scale, low-carbon electricity production including conventional gas-fired CHP units with an electrical capacity of 5MW or less.

The UK has the largest boiler market in the EU with 1.6 million gas boilers sold in the UK each year. (Source: BSRIA October 2008)

The UK renewable obligation will be £1 billion by 2010 and by 2016 all new UK homes should be zero or low carbon. There are currently about 100,000 microgeneration installations in the UK, up from 82,000 in 2004. If no additional policies are implemented, about 500,000 microgeneration units would be installed by 2015 and 2-3 million by 2020. But, with the right incentives, up to 9 million microgeneration systems could be installed by 2020, producing as much energy as 5 nuclear power stations (Source: BERR Report June 2008)