Fuel cell manufacturer sells Wirral plant for £1.1m

AUSTRALIAN company Ceramic Fuel Cells, the developer and manufacturing fuel-cell-based micro power plants, is selling its Wirral-based  powder plant operations for £1.15m.

CFC, which is listed on the AIM market as well as Australia’s ASX exchange, said it had agreed a deal with the materials business unit of ICL-PP Europe for its powder plant assets in Bromborough.

It said a change in production process has resulted in it no longer using the powder from the plant, and the operation had become a surplus asset.

ICL-PP’s purchase of the powder plant assets arises from an exclusive option granted to it in 2012 to acquire it. CFC said the new owner has agreed to employ all the powder plant’s current employees. 

Bob Kennett, managing director of Ceramic Fuel Cells said: “The sale of the powder plant assets is another positive step in the reorganisation and refocusing of the company on its core competencies. I am also delighted that all the staff of Ceramic Fuel Cells (Powder) Ltd will have ongoing employment with ICL-PP Europe.”

Rainer Gruber, leader of ICL-PP Europe’s materials business unit added:”Our purchase of the powder plant assets will enable ICL-PP to substantially increase its business activities by entering into a new market of technical, medical and dental applications derived from ceramic specialties.”