CMR, founded by Michael Priestnall and Michael Evans, has developed a fuel cell which converts methanol into electricity. To start with, the group plans to target the consumer electronics markets where existing batteries are struggling to produce the performance increasingly required by users of mobile phones and laptops. CMR says its fuel cells can produce more power than anything currently available of that size.

The group has picked up an impressive array of awards over the past year. These have included the 2005 Carbon Trust Overall Innovator of the Year award and the Carbon Trust Small Business award. It was also named by Harvard Business School as one of the 25 companies most likely to change the world by 2010. CMR is definitely one for investors to keep an eye on in the months after its float.