CFCL is pleased to report its first customer revenue of A$168,000 from the company's first external field trial of its prototype fuel cell system, whilst the net loss for the year was A$17.2m (~ €10.6m).

In the Review of Operations and Activities, Brendan Dow, CFCL CEO, notes:  "In 2004-5 CFCL took important steps towards commercialising electricity generators powered by fuel cells.  CFCL embraced the European market and increased its focus on products and customers.  

Specifically CFCL completed the design and production of fuel cell powered micro-CHP demonstration units, successfully integrating its fuel cells into an operating appliance generating electricity and heat.  We have signed contracts to demonstrate these units with a number of customers and in a range of locations.  

CFCL also established a subsidiary and office in the UK to focus on European business development and sales. The Company continued to increase its production of fuel cells and, importantly, the power output per cell, which will become increasingly important as the Company moves towards manufacturing its cell at higher volume and lower cost."

In the 2006 financial year CFCL will continue to commercialise its technology with a focus on Europe.  The Company plans to secure further field trial contracts with utilities and other end users and to engage with partners to integrate the company's fuel cell technology into further applications.  CFCL also intends to advance its plans for establishing volume manufacturing in Europe and to keep developing improved fuel cells. 

CFCL Board and management look forward to updating shareholders on the Company's activities including the planned raising and listing on the London AIM market, at the Annual General Meeting, to be held on Wednesday 23 November 2005 in Melbourne.  A notice of meeting, together with the 2005 Annual Report, will be sent to shareholders in October. 

The full text of this announcement Click Here