BlueGEN, a potential beneficiary of German state subsidy

Australian firm, Ceramic Fuel Cells Limited (LSE:à‚ CFU) has been informed that the state of North Rhine-Westfalia (NRW) in Germany has started to implement its recently announced mCHP (micro combined heat and power) subsidy policy.

The company is a leading developer of generators which use fuel cell technology to convert natural gas into electricity and heat for homes and other buildings.
Government authorities in Arnsberg/NRW have last week approved the first application for financial assistance. Depending on the size of the business applicant, the regional government of Germany’s most populous state is set to promote BlueGEN technology by subsidising each generator with between 45% and 65% of its fundable purchase price.

The applicant, a local bakery, was granted an amount of $16,000 for the purchase of one BlueGEN unit, which equals 65% of the fundable investment costs.

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