LONDON (Alliance News) - Ceramic Fuel Cells Ltd saw its shares rise by a fifth early Tuesday after it said that degradation rates in its fuel cell stacks continued to be significantly lower than it had previously experienced, with the latest results suggesting a stack could last for about 60,000 hours ro nearly seven years.
The company has been monitoring the degradation rates of fuel cell stacks in its BlueGen units it has installed at German customer EWE, and has extrapolated data it has gathered to work out the potential life of the stacks.
"We are confident that further technological improvements, already identified, will allow us to reach our targeted 10-year stack life," Managing Director Bob Kennett said in a statemen.
Ceramic Fuel Cell shares were up 20% at 0.390 pence early Tuesday, one of the best performing stocks on the AIM All-Share index.
By Steve McGrath; [email protected]; @stevemcgrath1
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CFU Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
