Spinning is tops for Generics

Buoyed by a strong performance from its spin-offs, the

group announced a 28 per cent increase in turnover for the first half of 2005.

The Cambridge technology development and investment specialist reduced its operating loss to £900,000 from £2.1m in 2004, while increasing fee income by 34 per cent, mainly thanks to its consulting and IP-related work.

Generics received a further boost in the first quarter when one of its spin-offs, CMR Fuel Cells, received the 2005 Carbon Trust award for innovator of the year.

CMR was created in 2004 to exploit a groundbreaking flow-through fuel cell utilising mixed reactants developed at Scientific Generics, the group’s main division. The technology involves electrochemical devices that convert fuel directly into electricity at higher efficiency rates and have potential for larger power storage capacity.

A further investment of £250,000 was secured by CMR in July, marking a major step towards its goal of making mass-market fuel cells commercially viable, said Generics. The funds will be used to strengthen and accelerate technical and commercial development.