Ceramic Fuel Cells Limited BlueGen receives substantial state subsidy in NRW (6652Z)
11 March 2013 - 6:00PM
UK Regulatory
TIDMCFU
RNS Number : 6652Z
Ceramic Fuel Cells Limited
11 March 2013
PRESS RELEASE
BlueGEN technology receives substantial state subsidy
North Rhine-Westphalia pays 45% - 65% of fundable purchase
price
Heinsberg, 11 March 2013. Ceramic Fuel Cells Limited ("CFCL")
(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, has been informed that the state of
North Rhine-Westfalia (NRW) has started to implement its recently
announced mCHP subsidy policy. Government authorities in
Arnsberg/NRW have last week approved the first application for
financial assistance. Depending on the size of the business
applicant, the regional government of Germany's most populous state
is set to promote the BlueGEN technology by subsidising each
generator with between 45% and 65% of its fundable purchase price.
The applicant, a local bakery, was granted an amount of 13,000
Euros for the purchase of one BlueGEN unit, which equals 65% of the
fundable investment costs.
Bob Kennett, CEO of Ceramic Fuel Cells Limited, says: "The state
of North Rhine-Westphalia has long been a strong supporter of our
technology. We are delighted that this support has now been
converted into a clear and substantial financial subsidy. The
approved funding level is extremely important in supporting the
ongoing marketing and distribution of BlueGEN; we expect this
programme to drive a significant increase in demand for our product
over the coming months and years. And lastly but most importantly,
our first subsidised customer in NRW, will be able to halve his
running electricity costs."
Following this first approval, BlueGEN generators are now
officially part of the 250 million Euro CHP incentive programme
'progress.nrw', which is designed to accelerate the market
breakthrough of highly efficient CHP systems. The CHP act aims to
increase the proportion of electricity generated by CHP plants to
25 percent of the state's total production by 2020. A study
mandated by the NRW Ministry for Climate Protection and carried out
by three renowned German research institutes, the Bremen Energy
Institute, the ISI and the IREES, calculated a total CHP potential
in NRW of 75 terawatt hours per year. By 2020, NRW's government
wants small and medium-sized enterprises to contribute a large part
of the CHP potential.
CFCL's fuel cell technology perfectly meets the objectives of
the state's government, as BlueGEN units are specifically designed
for decentralized, on-site use in small and medium-sized
enterprises. Providing up to 13,000 kWh a year, BlueGEN can cut
running electricity costs by up to 50%. Due to high and rising
electricity prices in Germany, one in four companies is considering
generating electricity themselves, the latest survey of the German
Chamber of Commerce says. With this new subsidy, BlueGEN units have
become an attractive investment proposition for more than 600,000
small and medium-sized enterprises in NRW.
- End -
For more information please contact:
Ceramic Fuel Cells Limited
Frank Obernitz Tel. : +49 (0) 171 3300
(GER) Email 721
: investor@cfcl.com.au
Nomura Code Securities (AIM Nomad)
Juliet Thompson Tel. : +44 (0) 207 776 1200
Chris Golden
Australian media enquiries
Richard Allen Tel. : +61 (0) 3 9915 6341
Oxygen Financial Email : richard@oxygenpr.com.au
Public Relations
UK media enquiries
David Stürken Tel. : +44 (0) 207 379 5151
Maitland Email : dsturken@maitland.co.uk
German media enquiries
Sebastian Mewißen Tel. : +49 (0) 211 430 79
Hering Schuppener Email 26
Consulting : smewissen@heringschuppener.com
About Ceramic Fuel Cells Limited:
Ceramic Fuel Cells Limited is a world leader in developing fuel
cell technology to generate highly efficient and low-emission
electricity from widely available natural gas. Ceramic Fuel Cells
Limited has sold its BlueGEN gas-to-electricity generator to major
utilities and other foundation customers in Germany, the United
Kingdom, Switzerland, The Netherlands, Italy, Japan, Australia, and
the USA. Ceramic Fuel Cells Limited is also developing fully
integrated power and heating products with leading energy companies
E.ON UK in the United Kingdom, GdF Suez in France and EWE in
Germany.
The company is listed on the London Stock Exchange AIM market
and the Australian Securities Exchange (code CFU).
www.cfcl.com.au
This information is provided by RNS
The company news service from the London Stock Exchange
END
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