CMR Fuel Cells plc is a fast growing developer of fuel cell stacks for portable and small stationary power generation applications. It was created in 2003 to exploit a revolutionary patented fuel cell developed at Sagentia and admitted to AIM in 2005 with a market capitalisation of £35.7m
On 22 December 2005 Sagentia Group’s spin-out company, CMR was admitted to AIM with a market capitalisation of £35.7m. Sagentia Group retains an 11% equity stake in CMR post IPO. On 30th June 2006 the mid-market price of CMR was £1.805 (price on admission £1.76).
CMR was created in Q4 2003 to exploit a revolutionary flow-through fuel cell utilising mixed reactants, developed at Sagentia. CMR’s patented technology involves electrochemical devices, which convert fuel directly into electricity at higher efficiency rates and have the potential for higher power storage capacity.
In CMR’s August 2006 interim statement, the company announced that commercial relationships were progressing well with leading consumer electronics OEMs and the core patent had been granted in China. CMR has achieved a significant technical performance milestone 6 months ahead of schedule, demonstrated stack volumetric power densities in excess of 300 W/l and entered into a product development program with Solvay SA.