Ceramic Fuel Cells Limited is engaged in the commercial development and demonstration of power generating products based on the Company’s ceramic (solid oxide) fuel cell technology. The Company operates in two geographical areas: Australia and Europe. In Australia, its areas of operation are principally solid oxide (ceramic) fuel cell research, product development and pilot manufacturing. In Europe, the areas of operation include the operation of a zirconia powder manufacturing plant, the construction of a fuel cell plant, sales, marketing and business development. Ceramic Fuel Cells Limited’s products include powder and ceramic production, high temperature metal and ceramic materials, advanced heat exchanger design and fully integrated fuel cell testing systems. Its subsidiaries include Ceramic Fuel Cells (Europe) Limited, Ceramic Fuel Cells (Powder) Limited and Ceramic Fuel Cells GmbH. In September 2009, the Company disposed of all of its securities.