LONDON (Alliance News) - Ceramic Fuel Cells Limited Wednesday said it increased its unit sales and lowered its net operating cash outflow during its third quarter.
The fuel-cell technology based, small-scale energy generation company said it sold 49 of its energy generation units in the three months ended September 30, up from 47 at the same time the previous year.
The company said its net operating cash outflow for the September quarter equaled GBP3.5 million, a reduction on GBP3.7 million in the previous quarter. The company said its cash in hand at September 30 was GBP2.5 million.
Ceramic Fuel Cells said it is benefiting from a funding programme set up by multiple German states to subsidize the development of micro combined heat and power installations.
Ceramic Fuel Cells shares were down 1.1% to 2.25 pence Wednesday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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