PolyFuel Inc.(PYF.L) a developer of fuel cell membranes for portable applications, says it cut net losses for 2005 to $7.9 million from $9 million in 2004.
The company shipped almost 3,000 fuel cell membranes in 2005, growing revenues to $1.04 million, up from $358,047,000.
Polyfuel plans commercialize its technology by 2007/2008.
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