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[May 2008]
Ceramic Fuel Cells Completes Placing of New Ordinary Shares
Ceramic Fuel Cells Limited has completed the placing of new ordinary shares to institutional investors in the UK and Europe, as originally announced on 5 May 2008.
The placing raised gross proceeds of approximately £7 million (A$14.7 million). These funds will provide CFCL with further working capital to facilitate the company’s continued commercialisation activities including the integration of its fuel cell products with conventional condensing boilers.
The new shares were issued and admitted to trading on the AIM market, on 9 May 2008. The company has applied for the new shares to also be quoted on the ASX.
Ceramic Fuel Cells is a world leader in developing solid oxide fuel cell (SOFC) technology to provide highly efficient and low emission electricity from widely available natural gas and renewable fuels. CFCL is developing SOFC products for micro combined heat and power (m-CHP) and distributed generation units that generate electricity and heat for homes.
CFCL is developing m-CHP products with leading appliance partners and utility customers in Germany, France, the UK, Netherlands and Japan.
www.cfcl.com.au
ENDS