Ceramic Fuel Cells Share News (CFU)

Ceramic Fuel Cells charged higher Monday after it announced its largest ever order for its Bluegen units.Sanevo, which has has substantial experience in marketing and selling new technology power and heating products in Germany, through more than 120 qualified sales partners, has placed an initial order for 100 units.The German company has signed a distribution agreement with Ceramic Fuels to market, sell, install and service BlueGen gas-to-electricity products in regions of Germany and Austria. The deal targets a minimum order of 500 Bluegen units for delivery in the second year of the agreement and a target of 2,000 units over years three and four. Provided Sanevo orders these agreed minimum numbers of BlueGen units during 2012 to 2014, Sanevo has exclusive rights to distribute BlueGen to commercial and residential customers in the German States of Baden-Württemberg and Bavaria, and in Austria. Ceramic Fuel Cells retains full rights to sell BlueGen units to utilities and energy service companies.News of the deal was accompanied by a trading update from Ceramic Fuel Cells, covering the second quarter.The company said sales of its Bluegen units improved by 190% over the first quarter. Receipts from customers for the June quarter were £0.8m, up from £0.5m in the March quarter. Net operating cash outflow for the June quarter was £2.7m, which was lower than the preceding quarter due to higher receipts from customers and a lower level of inventory purchases. The net cash outflow after operating, investing and financing activities for the June quarter was £3.7m.For the full year to 30 June 2011 receipts from customers were AU$ 3.3m (£2.2m), which was AU$1.7m (£1.1m) higher than last financial year. Total cash inflow for the year was AU$6.4m (£4.3m), which included net receipts from shares issued during the year of AU$28.9m (£19.2m).Cash at 30 June 2011 was 19.1m Australian dollars, equivalent to around £12.7m.--jh