You need a leap of faith to buy into Ceres Power, a manufacturer of energy-efficient boilers, but investors should be rewarded.
Listed on AIM two years ago, the company is still testing its main product - a domestic boiler that uses fuel cell technology - and has yet to make a profit. This year its shares have underperformed the market - the stock peaked at 334p in April and is now closer to 200p. But by the middle of next year Ceres aims to start showing prototypes of the boilers; if all goes well, they could be in the shops in 2009.
Morgan Stanley estimates that the product will cut the average household's annual utility bill by a quarter. With gas and electricity suppliers facing new rules next year designed to reduce customers' energy use, the likes of Ceres could be in huge demand.
Ceres Power stock quotes
Ceres Power stock charts
Follow this thread
