CFC & iPower receive go ahead for first project

Monday 25 March 2013

CFCL and iPower Receive Go Ahead

 For First Housing Association Project

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 that it and Energy Services Company (ESCo) iPower Energy Limited (iPower), have received the go ahead for the first housing association project.

This is the first project following the distribution agreement signed between the two companies at the end of January 2013.

Maidenhead Project

The project will involve participating tenants of Housing Solutions, a housing association located in Maidenhead, England. In the initial phase 10 BlueGen units will be deployed with each unit serving, on average, five flats.

The tenants will benefit from cheaper, lower carbon electricity and will be guaranteed a minimum discount of 10% against the best locally available standard electricity tariff.

Other projects

iPower expects to replicate this first project with housing associations across the country.

Following on from recent announcements about installations with housing associations supported by National Grid Affordable 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 blocks of flats where the electrical output from one BlueGen can be shared between flats.

Bob Kennett, CEO of CFCL commented, "We are delighted to see iPower making its first purchase and we look forward to continuing to develop our presence in the social housing sector in 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 off 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 (lower heating value), 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 (lower heating value).

About Ceramic Fuel Cells Limited:

Ceramic Fuel Cells (CFCL) is a global leader in the development and manufacture of solid oxide fuel cell-based micro combined heat and power generators and offers the first commercially available product in Europe. Headquartered in Melbourne, Australia, CFCL's initial focus markets to commercialize the technology are the UK, Germany and the Benelux countries. The company employs about 120 people worldwide, including the UK. CFCL is listed on the AIM market of the London stock exchange and on the Australian stock exchange (code CFU). (www.cfcl.com.au)