Ann: Shareholder update 12/07/12 , page-10

Here are the points I took home from the Update

"For example, combining a 1.5 kW mCHP product with the existing 6 million installed small gas heaters (under 25 kW thermal) would result in 9 GW installed capacity, or 72 TWh per year. Looked at another way, if 1.5 kW mCHP units provided only half the ‘gap’ of 56 TWh, this would equal 2.3 million units."

Theres ur ten bag

"In February 2012 the UK Government proposed an increase in the feed in tariff for mCHP products, including BlueGen. From October 2012 the tariffs would increase from a maximum of 14.2 pence to 15.7 pence, comprising a generation tariff, increased from 11 pence to 12.5 pence, plus an export tariff of 3.2 pence. BlueGen is currently the only fuel cell mCHP product to be eligible for the UK feed in tariff."

Only show in town,

Gasterra, Shell and others have created a model for energy transition in The Netherlands (http://www.energietransitiemodel.nl/?locale=en) which shows that using BlueGen alone can achieve The Netherlands’ 2020 targets for carbon reductions.

Always good to have the seven sisters involved, even tho they are scum

Once this large furnace is operational, capacity will increase to approximately 1,500 BlueGen units per year, based on current operating procedures. The plant’s production throughput can be increased above 1,500 units per year without additional capital spending, by operational efficiencies (such as improving processes and production flow, reducing furnace cycle times, loading and unloading times, robot optimisation), more ?????????flexible work practices (the plant is currently operating on a single shift); and by continuing to outsource the manufacturing and assembly of components and sub-assemblies. Modest investments in multiple tooling will also increase production levels. Apart from operational efficiencies, the next capital investment to increase production would be to upgrade the existing second large furnace. This would add another 30-40 stacks per week or 1,500-2,000 per year, for a total capacity of 3,000-3,500 stacks per year. The capital investment required for this step is approximately EUR 1.2 million.

Thats good, I'm feeling positive reading that, 1.2m euros is not to much