We did mention earlier this week that with every company announcement regarding a sale the shares should move upwards but perversly with the stock market shakeout world wide they went in the opposite direction the day after. Once the trade sales turn into retail sales we think that this Australian Company is a stock that you should be in. They closed the week on the LSE at 11.54p + 0.46p on the day
13 August 2010
Company Announcement
CERAMIC FUEL CELLS’ BLUEGEN SALE TO JAPAN ’S LARGEST GAS COMPANY
Ceramic Fuel Cells Limited (AIM/ASX: CFU), a leading developer of high efficiency and low emission electricity generation units for homes and other buildings, will install a BlueGen gas-to-electricity unit with Japan’s largest gas utility, Tokyo Gas.
Mitsui & Co. has ordered the BlueGen unit on behalf of Tokyo Gas. The BlueGen unit will be installed and demonstrated by Tokyo Gas at its testing laboratory in Tokyo .
Tokyo Gas is Japan ’s largest gas utility, serving 10.5 million gas customers in Tokyo and the surrounding region, representing 43 percent of all city gas sold in Japan . The Tokyo Gas group produces, distributes and retails natural gas, and sells gas appliances, energy services and electricity. Established in 1885, the group has 15,500 staff and and 2010 group revenue of USD 16 billion.
Tokyo Gas has a strategic plan to expand its activities into generating and selling electricity to become an integrated energy supply company. Tokyo Gas has deep experience with home heating and co-generation products, having sold many products to residential customers. As at March 2010 Tokyo Gas had installed 1,500 PEM fuel cell units, with forecasts of rapid growth to more than 40,000 units by 2014.
Mitsui & Co is one of Japan ’s leading trading companies, with more than 39,000 employees in 65 countries. Mitsui & Co. has global operations in product sales, worldwide logistics and financing, the development of international infrastructure and other projects. Mitsui & Co. has a long established focus on energy including renewables and fuel cells.
The order from Tokyo Gas follows orders for two BlueGen units from Japan ’s second largest gas utility, Osaka Gas, also arranged through Mitsui & Co.
Combined, Tokyo Gas and Osaka Gas serve more than 17 million customers, and more than 69 percent of all gas sales in Japan .
About the size of a dishwasher, BlueGen is the latest breakthrough in small scale electricity generation. Each BlueGen unit can produce enough electricity and heat to meet the annual requirements for power and hot water of the average Japanese home.
BlueGen units can generate electricity at a peak electrical efficiency of up to 60 percent. When heat is recovered for hot water, total efficiency is up to 85 percent – twice as efficient as the current power grid.
By generating power close to where it is used, Ceramic Fuel Cells’ products can meet the future demand for electricity without the need for huge investments in electricity transmission and distribution infrastructure.
Brendan Dow, Ceramic Fuel Cells’ Managing Director, said: “We are thrilled to be dealing with two such significant companies as Mitsui and Tokyo Gas – Japan ’s largest gas utility. We are confident that both companies will be impressed by BlueGen’s green credentials and electricity production capabilities. With this order, Ceramic Fuel Cells will have 51 BlueGen units ordered from seven countries – each unit demonstrating the significant benefits of distributed generation of electricity.”
The order from Tokyo Gas is the 51st BlueGen order for Ceramic Fuel Cells. Other BlueGen units have been sold to leading energy companies and other foundation customers in Europe, Japan , the United States and Australia .
All CFCL announcements are also available at ASX's website (If your browser does not support links, go direct to www.asx.com.au and search for announcements by CFU.)
CFCL's AIM announcements, and current AIM price, is available at www.londonstockexchange.com (code CFU).
More information about CFCL - including presentations, announcements and images for download - is available at www.cfcl.com.au
Regards,
Andrew Neilson
Group General Manager Commercial CERAMIC FUEL CELLS LIMITED
Tel: +61 (0)3 9554 2300
Group General Manager Commercial CERAMIC FUEL CELLS LIMITED
Tel: +61 (0)3 9554 2300
Email: investor@cfcl.com.au
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