Fuel-cell membranes - breakthrough or pie-in-the-sky?

Mail on Sunday

POLYFUEL
Market value:£25.8m Share price:52p


THIS small American company quoted in the UK develops high-tech plastic membranes that are used, or will be used, in fuel cells.

This technology is expected to become a key alternative to batteries for portable electronic devices such as laptops and mobile phones. Instead of replacing a dead battery, consumers will push a methanol cartridge, something like a disposable lighter without the flint, into the fuel cell. At the heart of the cell is a piece of plastic that allows energy from the methanol to be converted into electricity. PolyFuel appears to have a global lead in the technology.

NEC, Sanyo and Toshiba say they plan to launch devices powered by fuel cells within three years. A risky investment, but potential earnings are huge.