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Heliocentris reports 33% revenue growth through Q3

German-based Heliocentris Fuel Cells AG reports that its preliminary revenue figures for the nine months to September 30, 2009 are up 33% on the same period in 2008. The revenues of €2.27 million (US$3.4 million) came despite a difficult market environment.

Group sales to the end of September totalled €2.27 million (€1.71 million for Q1–Q3 in 2008). The net loss for the period totalled €2.05 million (€1.74 million in 2008). At the end of the quarter, the company’s liquid funds totalled €4.45 million. The figures are in accordance with German Accounting Standards (HGB), and are unaudited.

‘We are pleased that our expansion strategy translates into considerable revenue growth, even in a very turbulent market,’ comments Dr Andras Gosztonyi, CFO of Heliocentris Fuel Cells. ‘It shows the strategy to be aggressive, but also well balanced.’

Heliocentris Fuel Cells is a specialist for clean energy storage solutions based on a smart combination of batteries, fuel cells, and energy management. It is focused on mobile and stationary applications that require longer runtimes than current batteries can provide. Examples are electric vehicles, onboard and emergency power supplies, as well as off-grid applications such as monitoring stations or energy self-sufficient houses.

Heliocentris Fuel Cells AG is headquartered in Berlin, with a subsidiary in Vancouver, Canada.

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