(MENAFN- ProactiveInvestors - Australia) Ceramic Fuel Cells (ASX: CFU) may soon enjoy an increase in take-up of its BlueGen micro combined heat and power (CHP) systems with a German state starting to implement its recently announced micro CHP subsidy policy.
Depending on the size of the business applicant, the regional government of North Rhine-Westfalia â€" Germany's most populous state â€" is set to subsidise each BlueGen unit with between 45% and 65% of its fundable purchase price.
The first successful applicant, a local bakery, was granted an amount of 13,000 Euros for the purchase of one unit, which equals 65% of the fundable investment costs.
Ceramic noted the BlueGen unit will allow the bakery to halve its running electricity costs.
Following this first approval, BlueGen generators are now officially part of the 250 million Euro CHP incentive programme 'progress.nrw', which is designed to accelerate the market breakthrough of highly efficient CHP systems.
The CHP act aims to increase the proportion of electricity generated by CHP plants to 25% of North Rhine-Westfalia's total production by 2020.
Ceramic's BlueGen units have been gaining momentum recently with the company inking deals with Belgium's Solar Spirit in February and iPower Energy in the U.K. for the distribution of the CHP units.
The company held A$8.6 million in cash as of 31 December 2012.
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