Genuit Share Discussion Threads

[maxwellsdemon] 14/12/2004 12:26

Michael Priestnall, Head of Fuel Cells, Generics Group

The Generics Group is a technology consulting, development and investment organization focusing on commercializing emerging technologies in a range of areas, including engineering, materials, telecommunications, life sciences, business innovation and electronics. The company's head office is in Cambridge, UK, where it also has 4,000m2 of laboratory space.

Michael Priestnall heads up the fuel cell division of Generics, which is working on a range of projects - mainly in the US and Europe - and is developing a new type of fuel cell technology.

Priestnall spoke to NE Asia about the state of the fuel cell market, and about the new compact-mixed reactant (CMR) fuel cells, which he believes can dramatically reduce the cost of fuel cells while improving their performance.

NEA: What are the main applications for fuel cell technology?

Priestnall: Applications for fuel cells have crystallized into three basic classes: automotive systems, which have been driving the market for years; stationary fuel cell applications, which have been around since the early 60s; and portable fuel cell technology, which has emerged most recently.

In the long term, portable fuel cells will drive the market forward. Applications for automotive systems seem to be slipping a little, especially as we already have hybrid electric vehicles on the road, which compete with fuel cells against the internal combustion engine. In the portable market, fuel cells are emerging as serious contenders to batteries.

Battery technology is already operating at close to its capabilities. Li-polymer in particular is state-of-the-art as far as battery technology goes, and is topping out in terms of performance for some applications.

NEA: Are fuel cells likely to present a serious challenge to existing battery markets?

Priestnall: It's all about scale. It's not difficult to build a portable fuel cell system that outperforms a Li-ion battery in terms of energy density, for example. The limiting factor for a fuel cell is the size of the fuel tank. The real challenge is whether you can build a fuel cell package that matches Li-ion batteries for small consumer electronics devices.

My personal view is that we won't see fuel cells in mobile phones - not just because the fuel cell requires the storage of the fuel as well as the electrochemical conversion, but you also need all of the systems that sit around the fuel cell pack, such as the recycling, cooling, pumping, etc. Getting all that into a small enough package is very challenging.

The other challenge for mobile phones is that there is an existing infrastructure and manufacturing base, both of which are barriers to entry. Fuel cells can provide a role in recharging - you can plug your mobile phone into a methanol fuel recharging unit. But again you need to look at what you are competing with in terms of existing infrastructure.

There are a number of suggested fuel cell applications where the existing incumbent solution has not been properly assessed. I think we are still looking at niche applications for fuel cells.

NEA: In which particular niche areas do you expect fuel cells to play a major role?

Priestnall: We are looking at niche applications in the 10W scale and above. This is where we can start thinking about replacing batteries. Interesting applications would be laptops, portable computers, and up from there. There is still a lot of technical development required to get a fuel cell small enough to fit into the battery compartment of a laptop, but it is a much more feasible proposition.

A number of companies have already demonstrated laptops operating on fuel cells, but these have been prototype devices and are generally larger than the existing battery pack. They are not production ready and their cost is still too high, but it is definitely a very interesting area.

The other big niche area is in military applications, where fuel cells can provide power as an alternative to the rechargeable batteries usually used in the field by the military.

NEA: What is the idea behind compact-mixed reactant (CMR) fuel cell technology?

Priestnall: We asked ourselves whether it was possible to operate a fuel cell on a mixture of fuel and air, much as you would operate an engine with a carburettor. A traditional fuel cell uses a platinum catalyst on both the cathode and anode, as it is good for oxygen reduction and fuel oxidation - the two basic reactions in a fuel cell. However, if you made one catalyst highly selective to oxygen reduction and the other highly selective to fuel oxidation you could mix the fuel.

NEA: Why does this approach have an advantage over the existing technology?

Priestnall: As it is not necessary to keep the fuel and oxidant separate, conventional impermeable membranes, separators and seals are no longer required. High-tolerance, individual membrane electrode assemblies (MEA) can be replaced by very thin porous MEAs. The bipolar field-flow plates, which take up some 90% of the space in the fuel cell stack, can also be replaced because the electrical interconnect function is fulfilled by a single gas diffusion layer. It works simply by having a mixture of liquid or gaseous fuel flowing through the solid CMR stack.

NEA: On what types of fuel cells did you test CMR technology?

Priestnall: As we were interested in portable applications, we looked into using this technique in direct methanol fuel cells. One problem with direct methanol is fuel crossover, where methanol leaks through the electrolyte membrane, which degrades the performance and reduces the cell voltage.

There are two ways to solve this: one is to make the membrane less permeable; the other is to change the platinum catalyst on the cathode for a catalyst that is tolerant of methanol and selective to oxygen reduction. The latter is the CMR approach. We developed a new membrane and showed that we could get identical performance whether we operated with mixed reactants or with a conventional separated feed.

NEA: Does CMR technology improve the system performance?

Priestnall: We have already achieved similar performance at the single cell level as the traditional direct methanol fuel cell (DMFC). Because of space savings this translates to a volumetric power density of up to ten times higher than conventional DMFC. That is a huge step forward in terms of performance, and enables direct methanol technology to be considered for stationary and automotive engine applications, as well as for portable applications.

Even more interesting is what it means in terms of cost. First, this design eliminates most of the platinum in the cell. Secondly, there are savings from the membrane. Conventional DMFCs have to use thick membranes because of the cross-over problem, which is not an issue in the CMR fuel cell. Our analysis of the high-volume factory cost of DMFC suggests that the CMR approach could deliver total stack cost savings of around 80%.

NEA: What are the next steps towards bringing this product to market?

Priestnall: We have an 18-month program to develop a prototype 50W demonstrator, depending on whether we can get the funding to build it. We are looking for collaboration and investment sources. There is considerable interest - usually following an initial reaction of disbelief. A realistic timeframe for making the prototype into a commercial product is around two years. But if we happen to work in partnership with a company developing similar stacks, then maybe shortcuts can be taken.

by Anthony Plewes, London

(July 2003 Issue, Nikkei Electronics Asia)

[hvs] 14/12/2004 12:10

Nice uptick today shows plenty more action to come. Feel it can be the
share for 2005.

[rambutan2] 14/12/2004 12:01

pg25 of the ft today gives us a nice little piece including saying that cmr and sphere are both near refinancings and planned aim floats before too long.

[maxwellsdemon] 13/12/2004 18:08

Atraverda's home page:

Atraverda's WIPO-PCT patent applications:

1. (WO 02/058174) ELECTRODE WITH CONDUCTIVE PARTICLES FOR A BATTERY [Repub: 12.09.2003]
2. (WO 02/058174) ELECTRODE FOR A BATTERY
3. (WO 01/66828) ELECTRODE ASSEMBLY [Repub: 07.03.2002]
4. (WO 01/66828) ELECTRODE ASSEMBLY
5. (WO 01/46289) ELECTROCHEMICAL CURABLE RESIN COMPOSITIONS
6. (WO 01/02626) ELECTRODE
7. (WO 99/63130) CATHODIC PROTECTED INSTALLATIONS
8. (WO 99/41427) ELECTROCHEMICAL TREATMENT OF REINFORCED CONCRETE
9. (WO 97/29220) ELECTROCHEMICAL METHOD AND ELECTRODE
10. (WO 97/27344) METHOD OF APPLYING CONDUCTIVE COATING

[rambutan2] 13/12/2004 17:09

an institutional buy or two today.

[rambutan2] 13/12/2004 12:13

up nicely this morning on atraverda fund raising. just perhaps, things are finally starting to come together as long hoped.

noticed this on their site...

Scientific Generics set to expand following record sales month
30 November 2004
Cambridge-based Scientific Generics is set to expand having achieved the largest single month sales figures in the company's eighteen year history. September's sales reported a twenty per cent rise on last year's results and October's figures have continued to significantly exceed targets.

Driven by an increased demand for innovative development work, the record figures have called for a recruitment drive at the international technology and business consultancy. Twelve new members have already been appointed to the team in the last six months and the company is set to increase headcount by a further 10% in 2005.

The expansion promptly follows the success of Scientific Generics extending its reach into Europe. The Frankfurt office in Germany opened two years ago and already represents the company's largest geographical territory in terms of sales.

Simon Davey, CEO, Scientific Generics said: "Our success in Europe is great news for Generics. It is a market with enormous potential and demonstrates our solidity in the marketplace outside of the UK, firmly establishing ourselves as a truly global player. The business community in Cambridge is a focal point for innovation and technology and as a consequence it has provided us with an excellent platform from which to shape and grow the company."

He continued: "During 2004 we have seen record sales and team expansion. We have already taken on some excellent recruits this year and expect to take on several more."

[maxwellsdemon] 30/11/2004 14:42

there are plenty articles on the Turftrax/Generics radio tracking system:

[rambutan2] 30/11/2004 14:03

they s l o w l y seem to be getting there...

THIRD QUARTER RESULTS 2004

Generics, a leading integrated technology consulting, development and investment
organisation, today announces its results for the third quarter, to 30 September
2004.

Highlights:

• Year to date turnover increased by 14% to £11.3m (Q3 2003: £9.9m),
including an increase in consulting fee income of 12%

• Operating expenses reduced year on year by 21% (£3.8m) to £14.1m (Q3
2003: £17.9m)

• Group retained loss reduced significantly to £2.2m (Q3 2003: loss of £8.6m)
after expensed development costs in spin-out and associated companies
of £2.7m (Q3 2003: £3.3m)

• Period-end portfolio valuation of BVCA £11.3m (Q2 2004: £11.3m)

• John Townsend appointed as Managing Director of Generics Asset Management
Limited

• Net assets per share of 9.2p (Q2 2004: 9.5p) per share before taking into
account the BVCA portfolio valuation uplift equivalent to 3.0p (Q2 2004:
3.0p) per share

Gordon Edge, Generics' non executive Chairman, commented:

'We have continued to demonstrate improvement across the business in building
turnover while maintaining reduced costs. I am particularly delighted to
announce that we saw record demand in our consulting and IP business, Scientific
Generics, during September, with orders received of £2.4m. Orders have continued
to exceed target in October and November. This will return Scientific Generics
to profitability in Q4. We will now build on Scientific Generics' strength,
particularly in Germany and the United States.

During the quarter we were instrumental in the launches of Hornby's new
Scalextric Digital track system and the Turftrax Speed and Positioning System,
the result of a two-year technology development programme which has now gone
live on UK television and is being trialled in Keeneland, USA. In addition,
Generics has played a key role in Europe's first 'over the air' 3G application
test network, which was introduced in Cambridge in July.

I am particularly pleased with progress in several of our investee companies,
including CMR Fuel Cells and Sphere Medical. We anticipate that several of our
portfolio companies, including CMR and Sphere, will complete refinancings in the
near future. This will further reduce the ongoing operating expenses in our
profit and loss account as interest in each investee company is reduced.

Finally, I would like to welcome John Townsend to the position of Managing
Director of Generics Asset Management Limited. John brings considerable
experience and track record in the banking and private equity sectors and will
work both with our own portfolio companies and external funds under management.'

Outlook

The consulting business has made substantial progress over the last 12 months
and is planning for growth in Q4 2004 and beyond. The forward order book is much
improved at the end of Q3 2004. This is anticipated to lead to a stronger
trading position in Q4 2004. We continue to welcome new tenants to the building,
reducing property and central costs within the business. Rents received will
exceed mortgage interest payable during Q4 2004. Several of our portfolio
companies are expected to complete refinancings in the near future. These will
further reduce the ongoing operating expenses in our profit and loss account as
our interest in these portfolio companies is reduced.

[grupo guitarlumber] 30/11/2004 08:09

LONDON (AFX) - Generics Group AG third quarter to September 30 2004
Sales - 3.73 mln stg vs 3.08 mln
Pretax loss - 837,000 stg vs loss 2.23 mln
Loss per share - 0.3 pence vs LPS 2.0

Nine months to September 30 204
Sales - 11.29 mln stg vs 9.87 mln
Pretax loss - 2.3 mln stg vs loss 9.20 mln
Loss per share - 1.1nce vs LPS 8.0

vjt/

[elgordo] 07/11/2004 19:50

Autumn newsletter ("The Gen") now available for download at



Just off to read it now, to see what they've been up to of late...

ElGordo

[rambutan2] 08/10/2004 11:45

certainly looks like someone is expecting something good before too long.

[canford cliffs] 08/10/2004 09:03

I'm getting quite excited, seems like this sleeper has woken up big style.....

[canford cliffs] 07/10/2004 17:46

rambu - sorry, I was told in strictest confidence and as the guy was their audit partner I think it better not to invite the fsa to crawl all over us.....

cc

[rambutan2] 07/10/2004 13:00

well, my top up yesterday looks well timed.
hopefully thats the last time below the 8p rights price.
canford, any clues on the better performance tip - was it the vc side or the advisory side?
the institutions coming on board at the share issue must have been sold a good story ie tudor, mr williams. they no mugs.

[canford cliffs] 07/10/2004 09:12

yeah a small holding, I had some info from an advisor close to the company that made me think it would perform much better than it has to date - still I have confidence in them for the medium term.

CC

[rambutan2] 06/10/2004 20:57

you holding canford?

[canford cliffs] 06/10/2004 20:27

pity they ain't as agressive as bprg...............lol

[rambutan2] 06/10/2004 17:08

big buy today at 6.38p. are hoping that have now soaked up any rights leftovers and having hit a bottom are now not going back there. are sure theres some hidden riches amongst all their port cos. time will tell...

[rambutan2] 26/8/2004 19:13

Published on 03 August 2004

CAMBRIDGE 3G, the organisation bent on establishing the city as the leading centre in Europe in its field, has opened its Application Test Network in association with Vodafone.

The idea is to further foster the Cambridge community of broadband mobile application developers by making the new ATN available to all.

Vodafone, which is currently offering business users 3G datacards prior to its main rollout to the public, has provided the network infrastructure.

3G is the next generation network for mobile phones. Everything is much faster and higher quality. It was expected to be here sooner, but has been delayed partly due to enhancements made to 2.5G.

Access to the new ATN, which is run via eight base sites in and around Cambridge, will be managed by Cambridge 3G with help from Cambridge Network.

As well as access for any company involved in 3G products, there will also be technical support on offer, plus commercial advice, all of it aimed at cementing Cambridge's European lead in 3G.

Rob Morland of Cambridge 3G member Generics Group at Harston, said: "People are coming in from outside to work with us and other members because of the network.

"At the moment we are working with a Canadian company which wants to launch 3G products in Europe and to test them first on the Cambridge ATN."

I PARTIC LIKED THIS BIT – Mr Morland added that Generics had already won around £500,000 worth of business as a result of the network, and said other members have been similarly successful through being able to work together.

Unlike similar networks in other parts of the world, Cambridge 3G, which was founded by David Cleevely of Analysys, Steve Ives of Trigenix, and Cambridge University, has had no government backing.

It is funded via meanstested subscriptions.

Commenting on the ATN launch, Dr Cleevely, who chairs Cambridge 3G, said: "This is a key milestone for us and very rewarding to see it come to fruition.

"We are now open for business and are actively seeking organisations that wish to bring their broadband applications to market.

"We are especially keen to encourage leading application developers to come to Cambridge to take advantage of the worldclass infrastructure, which includes the university and many commercial organisations which can help turn new ideas into commercial propositions."

He added: "We are especially pleased that Vodafone has chosen to provide support for the ATN here in Cambridge.

[brendyl66] 26/8/2004 05:32

If the beginning of your day is about possibilities, then end of your day is about results. In between, let this help you get great results. By registering with this free newsletter, you will receive the timeliest stock alerts available. You will be notified when undervalued shares are on the move. You can cancel at any time. Grasp the possibilities. Check out the link on this page, it's a great find. These shares are traded exclusively in the US markets.

[grupo] 24/8/2004 08:39

LONDON (AFX) - Generics Group AG narrowed its pretax loss in the first half
to 1.18 mln stg from a loss of 6.85 mln a year earlier as sales rose 10 pct in
the period.
The technology consulting, development and investment company said in a
statement its consulting and IP business has made good progress in the first
half to June 30 and is approaching breakeven on a quarter by quarter basis, and
it is now planning for growth.
Sales rose to 7.55 mln stg from 6.79 mln a year earlier.
"In the light of discussions in progress regarding portfolio companies and
potential licenses, prospects for the second half of the year indicate a
continuing improvement," Generics said.
[e-mail]
lam

[rambutan2] 30/6/2004 18:43

The Generics Group AG announces that all the resolutions set out in the notice
of Annual General Meeting, which accompanied the Annual Report, were passed at
the Company's AGM held on 30 June 2004. Among the resolutions passed was the
appointment of Per Ludvigsson to the Board as a Non-Executive Director
and the appointment of Simon Davey to the Board as an Executive Director.

For further information, please contact:

Martin Frost, Managing Director 01223 875227

Helen Barrett-Hague, General Counsel 01223 875467

[rambutan2] 28/6/2004 15:10

so, herald did take up and now holds 13,874,192
shares, representing 6.4% of the issued share capital

and
Martin Forster, Director and Company Secretary, informed
the Company that he has purchased an additional 100,000 shares of CHF 0.10 each
in Generics at 9 pence per share. His total holding of CHF 0.10 shares now
stands at 699 400 shares.

[maxwellsdemon] 25/6/2004 12:47

The Gen newsletter, Summer 2004
The summer edition of Generics' newsletter, featuring news on our work with Boardbug developing the world's first multi-functional child monitor, a feature on growing opportunities in China and a look at patent exploitation.

Link to: