Ceramic Fuel Cells A 21st Century World Leading Technology

30th May '10 by Huddo

4 comments 3612 reads

World-Leading Technology
Deployed and successfully operated prototype micro combined and power (m-CHP) products with leading partners in Europe and Japan
*Now developing fully integrated m-CHP products
*Developed and launched “BlueGen”, a high efficiency power and heat generator product
*Signed memorandum of understanding with VicUrban to install the first BlueGen unit in a showcase sustainable building in late 2009
*In positive discussions with prospective sales and distribution partners, and building a strong pipeline of customer interest for BlueGen and m-CHP products, in Europe, North America, Japan and Australia

Global Partners

Manufacturing Capacity
Large scale automated fuel cell plant in Heinsberg, Germany

Capacity 10,000 fuel cell stacks per year
Options for later expansion to 160,000 fuel cell stacks
Cost €9.5 million, €3 million under budget

Ceramic powder plant in Merseyside, UK.
Making high quality ceramic powders using the Company’s proprietary technology, for internal use and for customer sample products.
First customer order received for a biomedical application

World-Leading Technology
Achieved world-leading electrical efficiency of 60% while exporting electricity to the grid (no transmission losses).
Continued strong progress in fuel cell stack reliability and lifetime

Extensive intellectual property portfolio

Industry’s highest electrical efficiency at 60%
Other fuel cells = 30-45%, other mCHP = 20% or lower

http://www.parliament.vic.gov.au/enrc/inquiries/renewable_energy/transcripts/27_7_09_Ceramic%20Fuel%20Cells.pdf

http://www.decc.gov.uk/en/content/cms/news/pn099/pn099.aspx

http://www.earthwitness.net/2009/09/european-energy-companies-eyeing.html

http://www.businessspectator.com.au/bs.nsf/Article/Home-ground-disadvantage-pd20090921-W47WX?OpenDocument

http://www.ecoinvestor.com.au/html/Eco_Investor_Forum_2009_Program.htm

http://www.theaustralian.com.au/business/trading-arousal-needs-closer-examination/story-e6frg8zx-1225826528566

http://www.theage.com.au/victoria/fuel-cells-a-tough-sell-in-a-coalfired-economy-20100312-q48i.html'

Broadcast News Items

http://www.youtube.com/watch?v=ta7RpOwQYbk

http://classic.cnbc.com/id/15840232?video=1227058580&play=1

http://www.brr.com.au/asx/CFU/ceramic-fuel-cells-limited/

http://www.brr.com.au/event/61215/ceramic-fuel-cells-opens-factory-in-germany-mr-brendan-dow-managing-director?popup=true

http://www.brr.com.au/event/63933?popup=true'

http://www.brr.com.au/event/65292/numerous-orders-received-from-german-utilities'

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BobGe

30th May '10

Couple of points I noted. Firstly from the companies presentation (other than the equipment looks pretty huge for most domestic installs) which set my mind wondering...
http://www.cfcl.com.au/Assets/Files/20100526_CFCL_VicUrban_BlueGen_26May2010.pdf
They claim high efficiency (electricity generation), but the chart on Page 6 appears to show the efficiency tailing off in a straight line at a rate of about 2% per month. Is this an issue with fuel cells generally?

Secondly, from the specifications, Page 3
http://www.cfcl.com.au/Assets/Files/BlueGen_Brochure_(ENG_GER)_April_2010.pdf
Apparently safe cool down takes 36-72 hours using utility mains. Presumably that means lack of utility mains (e.g. a power cut) during that period would be 'unsafe' or perhaps damaging?

Over to Marben for informed comment ;-)
Bob.

Huddo

31st May '10

Hi Bob
Just read your comments and thought it worth offering a couple of pointers for clarity.

The first mentioned your concerns regarding fuel cell efficiency, the link you offered shows the newly installed vicurban unit from start up to 1 month and I would recommend as does cfcl that we measure a much longer period along the lines of other units installed elsewhere which continue to offer effieciency in accordance with their website info.

The other area you had concerns with related to the cool down period. I believe the unit does not self damage, or otherwise. We should really consider the units went through thorough testing by official German regulators before they received their official CE approval last month and issues related to safety and damage I'm sure would have been paramount in the testing process.

It is interesting though given the comments because as far as I can see cfcl's extensive r&d since the early 90s has placed itself ahead of the competition with fully approved commercial product which is now being marketed as such. There is other competition in its wake. According to Andrew Nielson cfcl group general manager “Other companies targeting the same market space in Europe, include Topsoe in Denmark (a similar fuel cell technology, tending to larger units ), Hexis in Switzerland (a small company developing a similar product ) and Staxera in Germany. Hexis and Topsoe have fully developed systems and Hexis has had early field trials similarly to CFU - but none of them have yet moved into volume manufacturing.

Least forget the Early Strategic Bluegen Sales for 2010 include to:
*Victorian Government - Australia
*Ideal Boilers - England
*German Gas Association - Germany
*Mitsui & Osaka Gas - Japan
*Cosvegas - Switzerland
*Alliander - Holland
*Eon Ruhrgas - Germany
*Rhein Energie - Germany
*Kiwa Gas - Holland
*Ewe - Germany
*Vic Urban - Australia
*Energy Australia - Australia
*Paloma - Japan

Regards Hud
Ps. Don’t forget folks that the MD Brendan Dow would be happy to answer technical detail regarding the units and can be contacted on investor@cfcl.com.au he has provided very in-depth analysis when asked before although there is substantial detail on www.cfcl.com.au

marben100

1st Jun '10

A few points:

Whilst CE approval indicates that the unit is safe to install, AFAIK, it says nothing about the reliability of the unit.
IMO the unit is too big and expensive to be a practical domestic proposition. A negligible number have been sold to date.
CFU's units are based on an old technology which operates at a high temperature (over 800C). As a result, they have to be left on continuously at full output, to avoid damage. AIUI the units cannot be cycled on and off repeatedly

Compare and contrast against Ceres Power Hldgs (LON:CWR) 's unit:

Probably only a matter of months behind in gaining CE certification
Comparatively small wall-mountable boiler replacement
Based on unique, patented intermediate temperature technology (550C), meaning much less thermal stress on components
As a result, the unit is much cheaper to build, can be cycled on and off (10 minute start up time) and can adjust its output to folllow electrical load within milliseconds (if desired).
Forward orders (subject to terms) for 75,000 units
Beta units have been manufactured and are currently under test using a mass-manufacturing capable production line.

Regards,

Mark

Hi Marben100

The units cfu have sold are to utility companies and gov authorities and Andrew Nielson has stated that is the chosen route for cfu and the expected outcome would be the utilities lease or sell to customers.

Perhaps the cwr unit will be available soon I don't know, I have no interest but I did recall the cwr unit is a 1kw unit the cfu unit is a 2kw. So not a good comparison when questioning size etc.

A memo of understanding has been signed between cfu & Eon for 100,000 units (subject to terms)

The point I'm making is simple enough. You might not like the competition but we should respect each others products. The technology is brilliant, the market place is vast and cwr and cfu are just two companies developing a worldwide tech as many more companies across the world do just the same. The fuelcell expo in Japan last month saw 500 exhibitors so 2 out of 500, plenty of players to choose from. Just so happens we have an interest in the uk probably through the stock market.

An interesting piece I have picked up on recently is the cfu team are looking to develop a portable version!

I'm out in Melbourne later this month so I will try to find out more.

Good luck to all who invest.

Ceramic Fuel Cells A 21st Century World Leading Technology

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Huddo

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