Voller Energy Group PLC
24 October 2007
24 October 2007
VOLLER ENERGY GROUP PLC ('The Company' or 'Voller')
AGM Trading Update
In April 2006, the Company announced a series of milestones leading to the
commercial availability of 1kW fuel cell auxiliary power units (APUs). These
systems are designed to operate as quiet, low-emission power supplies that
provide an alternative to the traditional diesel generators used in markets such
as leisure, construction and the military.
The Voller APU, known as Emerald, has the advantage of working from widely
available hydrocarbon fuels such as Calor Gas, propane or liquefied petroleum
gas (LPG). Most other fuel cell systems require pure hydrogen, which is not yet
We were pleased to announce in the preliminary results on 14 September 2007 that
maiden orders for the Emerald system had been received from the construction
In addition, the Company is looking to expand and extend their Emerald product
line in the future to offer customers both higher-powered Emerald fuel cell
units and a choice of fuels. With this in mind, the Company has entered into an
agreement with the University of Cambridge to develop diesel, bio-diesel,
kerosene and JP-8 reforming technology.
Voller also continues to build strategic relationships around the world. In
2006 the Company signed a Memorandum of Understanding (MOU) with Calor Gas and
recently announced a supply agreement with Ballard for their Mark 1030 fuel cell
stack technology for the Emerald system. The 1030 is an advanced reformate
tolerant stack developed for the Combined Heat and Power (CHP) market in Japan.
Voller is on track to deliver commercial products to address our target markets
of construction, leisure and the military. We believe that this will put us
significantly ahead of our competitors. We have substantially enhanced our
intellectual property (IP) and know-how in fuel reforming technology and fuel
cell system integration and we will continue to look for new opportunities for
growth both domestically and on an international basis.
- ENDS -
Voller Energy Group PLC Hudson Sandler
Stephen Voller, Chief Executive Wendy Baker / Amy Faulconbridge
Tel: 01256 813900 Tel: 020 7796 4133
Jonathan Wright / John Depasquale
Tel: 020 7107 8000
Notes to Editors
About Fuel Cells
Fuel cells work by converting the chemical energy in hydrogen to electrical
energy. Hydrogen is combined with oxygen from the air across a special membrane.
The outputs from the reaction are electricity, heat and water. No toxic
emissions are produced. If hydrocarbon fuels are used they must first be
reformed (processed) into hydrogen gas and carbon oxides prior to introduction
into the fuel cell.
About Voller Energy
Voller Energy Group PLC (LSE: VLR) is one of the first companies in the world
from which you can buy fuel cell systems. Voller is a developer and manufacturer
of portable fuel cell systems that produce electrical energy but without the
toxic emissions produced by petrol or diesel generators. Founded in 2002, Voller
Energy has built considerable expertise in fuel cell systems technology for use
as battery chargers and mobile generators.
Voller is a carbon neutral company. The company has received two DTi Smart
Awards from the UK Government and was named by Real Business magazine as one of
the Top 50 companies to watch in 2005. Also during 2005 Voller Energy Group PLC
was the winner of the Power category of the IEE Innovation in Engineering Awards
for their VE100 portable fuel cell system. The Company was also the winner of
the Environmental Innovation & Technology Category in the Hampshire Sustainable
Business Awards - sponsored by Business Link. Voller was also short listed for
the British Industry Awards 2006 and was a finalist in the Growth Company of the
Year awards sponsored by the CBI. Voller Energy is a NATO registered firm NCAGE,
and is a registered supplier to the US Defence Procurement Agency (DPA).
This information is provided by RNS
The company news service from the London Stock Exchange