The bombed-out shares of Ceres Power showed signs of life on Monday morning after the company announced significant improvements in the durability of its core fuel cell module technology.
Meanwhile, the long term test programe of its combined heat and power (CHP) engineering technology remains on schedule to commence the planned in-home field trials in the second half of this year. The company plans to hold a final set of field trials in 2013 ahead of the CHP product launch in 2014.
The company had net cash of £18.6m at the end of 2011.
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Rival fuel cell technology manufacturer Ceramic Fuel Cells said it received orders for 106 CHP units in the final quarter of 2011, taking the total number of orders received up to 614 units, representing a doubling of the order book from June 2011. The current open order book stands at 477 units.
The overall net cash flow after investing and financing activities for the December quarter was an inflow of A$9.7m (£6.5m). Cash at the end of 2011 stood at $22.5m (£15.1m), the Australian company said.
Technology commercialisation business IPSO Ventures said financial constraints in the six months to the end of October prevented it from making any new investments in the period. On the bright side, the company made its first modest net interim profit of £27,666 versus a loss of £230,128 in the corresponding period of 2010, principally as a result of increases in the valuation of two portfolio companies, Biocroi and IPSol Energy, during the period. Both companies raised new funds from third party investors at improved valuations.
Eruma, the specialist provider of security technology, has won a contract worth around $0.27m to install its Secur range of security blinds at a major international non-government organisation in Yemen.
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