fuelcell, no I had never heard of 'spark spread' before, so...

fuelcell, no I had never heard of 'spark spread' before, so spent some time reading a bit about it. From what I could gather it really applies to large generators/companies operating in a centralised distribution system. However, microCHP would operate in a distributed generation model and I think would require a different set of parameters. Anyway this is a minor point and I'm not really convinced it is going to have a great impact on the company.

You seem to be really hung up on the degradation of the stack. One of the things I have liked about CFU over the years is their commitment to R&D and improving the product. I know there is no certainity there will be further improvement but CFU have the 'Rolls Royce' of fuel cells in the market in terms of superior efficiency. They're doing something right and I'm confident it will continue.

You state that the market is embracing Stirling engines that cost much the same as a standard boiler and offer space heating as well. Can you tell me where I can find evidence of this? From what I can tell sales for any form of microCHP are not in large numbers. The Whispergen-Europe website is showing 10 000 euros for supply in Germany and 14 000 euros installed. Hardly one fifth the cost of a BlueGen, but because you're in finance I'm sure you could work the maths for that out yourself.

The Stirling engine and Rankine cycle do have some advantages such as a faster start-up time, quicker to modulate and can vary the heat output, BUT have an electrical efficiency of only 15-25% Without doubt I believe electrial efficiency trumps heat efficiency. Incredibly, according to your post 9350264, after 10 years of degradation the BlueGen is still producing electricity MORE efficiently than a brand new Stirling engine. Amazing!!!

Now I do believe there are situations and circumstances that are going to be more suitable for a Stirling engine, even with that very inferior electrical efficiency rate compared to the BlueGen. For instance where there is a very high heat demand. But considering the market for boilers in the UK alone is approximately 1 million each year there is ample space for multiple companies with multiple products. Which brings me back to the question I asked before; why is the market not embracing it. Compared to a PV system a BlueGen operates 24 hours a day and gives the benefit of all the hot water you need. By the way you didn't factor the cost savings benefit of not having to pay for heating water directly anywhere into your figures. I know, you'll probably refer me back to 'spark spread' or something similar.

fuelcell, why are you assuming that the cash burn is going to be a constant 20 million euros a year. You bang on about this in almost every post. I don't know what the rate will be this quarter; it may be more, but most likely it will be less. Last quarter was pretty miserable but at some point the measures put in place will result in the anticipated savings, but you always ignore this.

Your name intrigues me. At first it would seem like you are supportive of fuel cell technology but clearly you are not. In particular you seem to have a real problem with CFU. I'm happy to hear alternate thoughts but you manipulate your comments so they are always negative.

I think lack of sales is partly price, unfamiliar technology, reliablity but I also believe a large part of it is beyond the company itself. There seems to be a 'reluctance' on the part of energy providers to begin transition to this decentralised model of power generation. I'm guessing here but I think CFU have more hurdles to jump then technological and economic ones.