Dual listed Ceramic Fuel Cells Limited
(ASX:CFU) is set to launch a rights issue to existing shareholders in order to raise up to $13.8 million as well as $3 million to be raised from overseas investors.
Ceramic Fuel says the funds raised will provide the company with additional working capital and maintain growth.
Separately, the small generator developer released its cashflow report for the June quarter that showed an 82 per cent increase in revenue from the same time last year.
The quarter also showed sales of 76 BlueGen units, bringing the total for full year 2012 to 169 units. Its net operating cashflow of $7.3 million for the quarter was up from $4.9 million from the previous quarter.
In the first half of the 2012 financial year Ceramic Fuel Cells booked a net loss of $12.5 million.
