CMR Fuels has won this year's Carbon Trust Innovation Award, given to organisations making a real contribution in the drive to combat climate change by reducing carbon emissions.

The company, which also took the individual and small business category awards, was judged to have developed technology with the potential to revolutionise production of fuel cells, making them commercially viable for the first time.

CMR cells can be produced 10 times cheaper and 10 times smaller than today (Wednesday, 27 April)'s cells, and because they are energy-efficient and are a zero carbon emission replacement for engines and batteries, their widespread uptake will save millions of tonnes of carbon.

Tom Delay, Carbon Trust ceo, said: "It takes smarter thinking to tackle climate change, and all the winners of this year's awards have recognised not only the challenge climate change poses, but also the business opportunities it presents."

CMR beat off competition from Marks & Spencer and Oxford University to take the overall title.

The company is a spin-out from Generics Group at Harston, which holds a 20 per cent stake.

Commercial fuel cell sales are projected to reach $14 billion by 2010, and CMR is at the forefront of the market.

The company has already been picked by Red Herring as one of the top 100 private firms to watch this year.

Last year, entrepreneur John Halfpenny was appointed ceo.

He is credited with giving Cambridge-based Splashpower its global kick-start.