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Ceramic Fuel Cells Rises Most in Year After Getting Contract

May 31 (Bloomberg) -- Ceramic Fuel Cells Ltd., an Australian developer of low-carbon energy systems, rose the most in more than a year in Sydney trading after getting a contract to supply 25 natural-gas fuel cells.

The shares advanced as much as 23 percent on the Australian stock exchange, their biggest gain since March 22, 2010. The stock was up 18 percent at 13 Australian cents as of 3:33 p.m. local time. The benchmark S&P/ASX 200 Index climbed 1 percent.

Ceramic Fuel Cells will sell its BlueGen units to Ausgrid to be installed in homes in Newcastle as part of a ‘Smart Grid, Smart City’ project, the low-carbon energy systems supplier said in a statement today, without disclosing the value of the deal.

The units, to be installed over the next few months, will generate electricity from gas “with the world’s highest electrical efficiency,” and provide hot water to homes, the company said.

To contact the reporter responsible for this story: Baldave Singh bsingh35@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net.

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