Has anyone got any ideas why VLR continues to fall? They are one of the few Fuel cell company to have actually successfully comercialised their product and the potential for future growth is huge.

Jojojo,

I agree - am wondering just as much as you. How come Ceres Power (CWR) seems to be attracting all the attention? I think CWR has been successful in continually raising its profile with Government bodies and is now involved with a lot of multinationals in researching a "coherent national energy policy".

CWR is currently valued at 9 times last reported assets. I expect that the next set of financials, due to be released shortly, will contain more good news and further boost the share price. But is the current SP justified? Certainly a lot seems to be riding on good prospects rather than fundamentals. VLR, by contrast, is trading only about 35% above NAV. A definite plus for VLR is that it has a big cash-pile of 7.6 million (at end of year 2005), sufficient to see it through three or four years of R&D at current cash-burn rate. Unlike CWR, Voller does not seem to have committed much funding to developing manufacturing facilities, which makes VLR look a bit small-scale at present.

CWR also seems to have benefited from a fair bit of "first-to-market" premium.

The agreements with Calor and others, however, offer a lot of grounds for optimism for VLR. I am encouraged by VLR's product range/pipeline and the fact that Speedy Hire has taken Voller seriously enough to order 300 units of the 10KW Generator. To quote the interim results: "Production has commenced of the Speedy Hire Porta Charger and the initial order for 300 units will be invoiced in the first quarter of the calendar year." Unfortunately the Charger does notyet seem to have found its way on to Speedy's website - I can only assume that delivery has not yet taken place.

I certainly intend to watch this stock for a while and to do some more research on the fuel cell industry in general. But does anyone else have any thoughts on why VLR is lagging? And if Ceres is the Coca-Cola of fuel cells, will Voller turn out to be Pepsi or merely Panda-Pops?

Soul Trader,
Thankyou for you insight and I strongly agree with your points, although previously a shareholder of CWR at 99p I believe VLR are now in a stronger position than their rivals and soon the market will realise this and the shares should rise.
Unlike the rest of the sector I think VLR are heavily undervalued and the only fuel cell company that should be a 'Buy', although if in your research you spot some other companies similarly undervalued like VLR, i.e. in the renewable energy of fuel cell sector, please inform me.
Another company I monitor closely is REH, renewable energy holdings, and although the share price is fairly static I believe the long term potential looks great and the shares could be worth over 100p in a year.
And on your last note let me assure you Voller will be the Pepsi, without the Micheal Jackson incident, and soon take on Coca Cola.

hi jojo, i am only commenting on your previous post about cwr and not investing in manufacturing facilities, perhaps you might want to look at CFU imho. dyor

Finally a positive move !!!! Up 16% today!

grooverjr i'll check CFU, from first glance it looks like they keep the market updated with newsflow which could be a pleasent change form VLR, thanks for the tip.

Any news regarding today's price jump?

The rise is due to Shares comment this week, soultraders.

Thanks, hlyeo - haven't seen the mag yet as my copy is in Germany and I'm not.

its a great article for Voller and I think we can expect a push through 50p in the next few weeks as it should have increased awarness OF vlr and also catch those who missed ITM + CWR.

I see that Paul Scott has a built up a large holding in VLR.

Voller Energy Group PLC
24 April 2006

24 April 2006


Voller Energy Group PLC

Launch of New Fuel Cell System

Voller Energy Group PLC, the leading commercial supplier and manufacturer of
portable fuel cell systems, announces the launch of a new industrial fuel cell
system, the VE100 Rack Mount ('VE100RM').

The new fuel cell system can charge remote monitoring equipment, surveillance
cameras and industrial equipment in remote locations. The VE100RM can also be
used in conjunction with other power sources such as Photo-Voltaic ('PV') solar
panels or wind turbines to provide continuous power over an extended period of
time.

The VE100RM is aimed at customers with a requirement for constant energy, or
high up-time equipment in a variety of remote or potentially hostile
environments. Historically, most of these applications use batteries, which have
to be recharged. The new VE100RM fuel cell system will re-charge them
automatically.

Using Voller's own software, the new fuel cell system logs and monitors the
battery charge. This information can be accessed and monitored remotely via a
GPS phone link.

The new fuel cell system is powered by hydrogen gas which can be supplied from a
normal compressed hydrogen cylinder and regulator available from any compressed
gas supplier or from a refillable canister supplied by Voller Energy. This
refillable canister stores hydrogen at low pressure dissolved in a metal hydride
salt. The Voller canister can be mounted within the 4U 19' rack mount case
enclosure.

Once running, the automatic charge mode, fuel canister reset and various display
modes can be selected from the front panel. An 8mm pipe connection is also
provided on the front panel for ducting away moist air and water vapour. The
unit will automatically 'awaken' from standby mode to charge external batteries
when they drop below a preset voltage. This means that the useful lifetime of
batteries will be extended and it will also reduce the number of man-hours
wasted unnecessarily on checking and recharging the batteries.

Stephen Voller, Chief Executive of Voller said:

'This is an exciting development and is further evidence of our ability to
provide practical fuel cell system solutions which meet our customers' needs.

Today there are so many different types of industrial equipment that need
non-mains delivered electric power, so the potential of this new system is
substantial. Certainly, the security industry could become a major beneficiary
of our technology as it will provide safe, clean and efficient recharging
capability for surveillance or other electronic equipment situated in remote
locations. It is further evidence of Voller Energy's commitment to providing
practical fuel cell system solutions which meet our customers' needs.'

Up up and away. Bought in at 39.5 and 50, Voller looks good for 80p a share.

SO 57p must be also a good entry point if that is the case.

Not as good as around 50 but still great value. Even with this jump the shares are not even close to reaching their potential, I think we can expect Voller to follow the price rise of ITM and CWR.

Zipide do dar !!!!

That's good news today and isnt the share price looking great again !!!

Im so glad I bought some Voller stock after the share's magazine article !!

I sold my Hamworthy HMY shares last week with an 80% profit to buy these and what a good moved that was, especially as HMY are down today

edited: 240406

Yes that certainly was a good move. It looks like the market has finally caught on to the potential of Voller, (I am now posting as G D Potts, formerly jojojo).

Profit Takers

Voller Energy Group PLC
26 April 2006

26 April 2006

Voller Energy Group PLC

Technical Update & Milestones

Voller Energy Group PLC (AIM: VLR), the leading commercial developer and
manufacturer of portable fuel cell systems, today announces significant progress
with its hydrogen reforming technology to extract hydrogen from widely available
fuels.

The emergence of this technology is one of the most exciting developments that
will enable the commercial fuel cell industry. It is a major step towards
achieving the commercial take-up of fuel cells by the end of 2007.

Fuel cells offer great promise in providing quiet, clean and
environmentally-friendly generators and battery chargers. Although fuel cell
technology has been around since 1839, the hydrogen that they require is still
not readily available. Whilst there has been much speculation about the
emergence of a Hydrogen Economy, there is still little evidence of the supply of
hydrogen being introduced commercially, therefore limiting the widespread
take-up of fuel cells.

Hydrogen does not exist naturally and must therefore be manufactured as required
or stored. However, hydrogen is widely available in hydrocarbons such as
propane or butane (also called Liquefied Petroleum Gas or 'LPG'), which are
commonly known as camping gas or Calor Gas. The 'Holy Grail' for the early
commercialisation of fuel cell technology has been the extraction of hydrogen as
required from existing fuels such as propane. LPG is tried and tested, safe and
readily available. In addition, it is easy to liquefy and transport.

In February 2006, the Company was delighted to announce its agreement with Calor Gas to collaborate on the development of fuel cells running from LPG. Calor Gas is the UK's leading supplier of LPG with over 70 years' experience in this
flexible and environmentally sensitive energy market. From 10,000 UK outlets,
Calor Gas supplies around four million homes, businesses and individuals who
rely on Calor Gas for an enormous variety of applications. The parent company of
Calor Gas, SHV, is the largest downstream distributor of LPG in the world.

Voller Energy believes that a significant step in the transition from today's
Carbon Economy to the Hydrogen Economy of the future is for fuel cells to be
able to take the hydrogen that they require from existing fuels. Up to now this
process of extraction or hydrogen reforming has been costly and requires
proprietary fuels, for example high purity LPG or de-ionised water which are not
widely available. Voller Energy has made significant progress towards solving
these problems by reducing the cost of hydrogen reforming and designing a simple
system that will run on these commonly available existing fuels.

Steam reforming

Most reformers use a process of steam reforming, combining water in the form of
steam with the fuel to produce hydrogen. Typically these systems require both
fuel and de-ionised water otherwise the impurities in the water contaminate the
system. Also the catalysts required in these reformers tend to be proprietary
and expensive, relying on precious metals such as platinum and palladium.

Voller's reformer

Voller Energy acquired KAT-chem shortly after the float in February 2005.
KAT-chem have demonstrated a pyrolyser process to extract hydrogen from propane.
A pyrolyser is a much simpler reforming technology that operates without the
need for water or steam, and in Voller's case, without using expensive
catalysts. In fact a key part of Voller's IP that is currently the subject of
new patent applications, has been the development of the low-cost catalyst which
does not require precious metals.

In October 2005, the Company successfully demonstrated in its laboratory a
pyrolyser producing 90w of hydrogen equivalent. The significance of this was
that standard Calor Gas propane was used as the input for the experiment. The
purity of the hydrogen produced was extraordinarily high. This system used this
low-cost catalyst technology.

In February 2006, the Company announced that it had signed a joint development
agreement with one of Germany's leading science research institutes, Zentrum fur
Brennstoffzellen Technik GmbH ('ZBT'), to accelerate progress in this important
area. ZBT has considerable knowledge and experience in this field.

Extracting hydrogen from LPG or propane is complex because of the chemical
structure and composition. Production of a tar like residue needs to be avoided
and impurities in the product gas such as sulphur ('S') and carbon monoxide ('CO
') would harm the sensitive membranes used in fuel cells. These components have
to be cleaned before they can enter the fuel cell.

In March 2006, ZBT successfully completed its feasibility study, validating the
design concepts of the Voller pyrolyser. Systems are now under construction for
testing.

Technology milestones planned:

Q2 2006

- Prototype designs evaluated for 1KW system

Q3 2006

- 1KW of hydrogen produced using prototype pyrolyser

Q4 2006

- Integration and test of fuel processor with 1KW stack system

Q1 2007

- Successful lab testing of complete 1KW system with Voller controller
and battery management system

Q2 2007

- Field testing

Q4 2007

- Commercially available

Stephen Voller, CEO of Voller Energy Group PLC, said:

'We are very excited about the developments that we have made with our hydrogen reforming technology. Few people have understood the depth of our own technology to date. We believe that this is an important development for the industry and is likely to accelerate the adoption of fuel cells in a wide range of
applications in sectors such as construction, camping, boating and the military.

Propane or LPG is a universal fuel available in most countries around the world.
The distribution network is mature and it will be many years before hydrogen is
as widely available. Calor Gas is extensively used in the core markets that
Voller Energy is focusing on, in particular in leisure and construction.

The UK generator industry is worth over 15 billion a year (source: Plimsoll).
These generators are used in as diverse applications as camping and caravanning,
in temporary buildings or cabins in the construction industry, for remote power
in the military, for auxiliary power in trucks and on yachts and boats. The
users of these generators would prefer to use a quiet, clean fuel cell generator
if the system would operate on a convenient fuel such as Calor Gas.''

There are over 25 million pleasure boats in use worldwide, 5 million RVs
(Recreational Vehicles) in use in North America, 40,000 new caravans built in
the UK every year, 200,000 cabins in use in the UK construction industry and
over 200,000 new trucks registered in the UK each year.

NOTES TO EDITORS:

Voller Energy Group PLC



Voller Energy is one of the world's first commercial developers and
manufacturers of portable fuel cell systems for use as battery chargers and
mobile generators.

Voller Energy is initially targeting commercially attractive areas including the
cordless power tool, leisure boating, recreational vehicle and military markets.
These are likely to be early adopters of the technology as the benefits of using
fuels cells, such as low noise, no toxic emissions and health and safety issues,
are important drivers. The portable power market is generally defined as up to
10kW and is expected to be worth $17 billion by 2011 (Canadian Fuel Cell
Commercialisation Roadmap - Price Waterhouse Coopers, March 2003).

Great post HLYeo.

One query: "The UK generator industry is worth over 15 billion a year (source: Plimsoll)."

Really? That means that every man, woman and child in Britain spends 250 per year on generators. Could they be missing a decimal point? Even then it still sounds like a lot.