Ceramic Fuel Cells Limited (ASX:CFU, LON:CFU) has inked a deal with a New York Stock Exchange listed provider of electronics manufacturing services named Jabil Circuit (NYSE:JBL).
Under the memorandum of understanding both companies will work to scale up the manufacture of Ceramic Fuel Cells BlueGen gas-to-electricity generators.
Jabil has 55 factories in 22 countries and is targeting to increase Ceramic Fuel Cells manufacturing volumes while reducing unit costs.
Ceramic Fuel Cells says the details of the particular services in each phase if the agreement will be set out in a formal supply agreement to be signed at the time.
CEO Brendan Dow says the company’s order book has grown from 50 to 500 units in the past year and the latest deal facilitates the company to plan for even larger volumes.
In the 2011 financial year Ceramic Fuel Cells recorded a net loss of $21.2 million.
