Ceramic Fuel Cells and iPower receive go ahead for housing project

AIM-listed generators developer Ceramic Fuel Cells (CFCL) and energy services company iPower Energy (iPower), have received the go ahead for a housing association project.

The project will involve participating tenants of Housing Solutions, a housing association located in Maidenhead, England.

In the initial phase, 10 BlueGen units will be deployed with each unit serving, on average, five flats.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

BlueGen units use ceramic fuel cells to turn natural gas into electricity as well as heat for hot water for homes, schools, offices and small commercial buildings.

According to CFCL, each BlueGen unit can save up to four tonnes of carbon per year in low carbon homes in the UK when running off natural gas and around twice this amount when using directed biogas purchased over the mains gas grid.

CFCL reported that iPower expected to replicate the project with housing associations across the country.

Bob Kennett, Chief Executive Officer of CFCL said: "We are delighted to see iPower making its first purchase and we look forward to continuing to develop our presence in the social housing sector in the UK."

CFCL's share price was down 2.70% to 4.50p at 14:22 on Tuesday.

MF