re: Ann: CFU signs new contract with EON for ...
Hi all, long time..new kid, and a total disaster of the CFU front has kept me at bay for a while...nice to see so much talk underway.
jaded you were on the ball (maybe)..we have our own little opes prime underway. I read somewhere the KBC was delivering on their figures in the next few days so perhaps they will stop selling once that have disclosed how many billions of Euro they have blown. Cant find the link sorry.
Its been announced previously that the German Gov will be assisting CFU with funds in the form of a grant for the factory build once the build is completed, a reimbursement.
Funding will happen, hopefully some form of financing distinct from a new issue. CFU are busy negotiating away in the background.
Remember we also have a financial component to the Eon deal, if things were so grim as to require immediate do or die finance then we perhaps would have seen something in this deal. As with the Nuon production specs, the Eon financial relationship remains under wraps as the details could impact on the ongoing negotiations with the balance of CFU partners.
Plenty of production capacity in the Melbourne HQ to support the current and pending rollout demands anyway.
Agreed we need news re the funding as its clearly taking the steam out of their other excellent announcements...
Got the following recently, good endorsement of the grand plan..
Last Thursday the UK Government announced a new consultation on how to save heat and energy in UK homes:
E.ON and Ceramic Fuel Cells (CFCL) welcome Heat and Energy Savings Strategy Consultation
Microgeneration collaboration perfectly suited to fresh policy
Ceramic Fuel Cells Limited and E.ON welcome the Government announcement outlining a major review of its Heat and Energy Savings Strategy. The announcement signals a big increase in the Government’s ambition for decarbonising heat use in the domestic sector, and reinforces its support for schemes such as the exclusive new agreement between CFCL and E.ON to develop and deploy fuel cell micro combined heat and power (mCHP) units in Great Britain .
The announcement by the Government gives further recognition that CHP must play a more prominent role in the UK ’s transition to a low-carbon economy. It highlights the introduction of securitisation and financing measures for the deployment of domestic-scale renewable and energy saving technologies, including micro CHP, and incentives for the development of renewable heat supply.
The new agreement between E.ON and CFCL (announced on 2 February) of a joint development project to commercialise mCHP units designed specifically for the UK market, is exactly the sort of low emission power and heat product that is being encouraged. The project, scheduled to run from 2009 to 2012, reinforces E.ON’s position as a leader in new solutions for home energy. The commercial market launch in the UK is expected to follow thereafter and a potential future order profile – a minimum order of 100,000 units over six years from 2012 - has been agreed between E.ON and CFCL, which would secure E.ON's exclusive distribution rights for CFCL micro CHP units within the UK. The highly efficient new mCHP units, based on CFCL’s GENNEX fuel cell module, are expected to be able to power a wide range of homes and help to reduce carbon emissions across the UK .
The UK has the largest boiler market in the EU with 1.6 million gas boilers sold here each year (source: BSRIA October 2008). Through initiatives such as that being developed by E.ON and CFCL, it is estimated that CHP has the potential to deliver 19 million tones of CO2 savings by 2015 from existing sites and through new investment such as that outlined today (source: CHP Association estimates).
Bob Kennett, a CHP Association Board member and Non-executive Director of Ceramic Fuel Cells, said:
“We are delighted that the Government has once again stepped up its support for microgeneration and continues to recognise the important role this technology has to play in the UK ’s transition to a low-carbon economy. CFCL continues to lead the way in developing mCHP fuel cell technology and the support for schemes such as our collaboration with E.ON gives further backing to this technology becoming a commercial reality.”
Charles Bradshaw-Smith, Head of Innovation at E.ON, added:
“The agreement with CFCL reflects two years’ hard work to achieve a unit with a technical performance that has met all our targets. This technology signals that cleaner, more cost-effective energy in the UK home is closer than ever before.”
CFCL’s press release is at www.cfcl.com.au
Details of the Government consultation are at http://www.decc.gov.uk/consultations/hes.html
CFU Price at posting:
4.2¢ Sentiment: LT Buy Disclosure: Held
