Ceres Power Holdings plc Ceres Power to Develop SOFC for Electric Vehicles (3926C)
June 28 2016 - 2:00AM
UK Regulatory
TIDMCWR
RNS Number : 3926C
Ceres Power Holdings plc
28 June 2016
28 June 2016
Ceres Power Holdings Plc
("Ceres Power" or "the Company")
CERES POWER to demonstrate its SOFC stack technology FOR
ELECTRIC VEHICLE range extender
Ceres Power Holdings plc (AIM:CWR) is pleased to announce it has
now finalised all agreements to begin its new relationship with
Nissan Motor Manufacturing (UK) Ltd and M-Solv, as part of the
funding arrangement from Innovate UK and The Office for Low
Emission Vehicles ("OLEV") as previously announced on 22 March
2016.
Ceres Power is the leader of this consortium, with Nissan and
M-Solv, aimed at developing a compact, on-board solid oxide fuel
cell ("SOFC") stack for range extension of electric vehicles. The
SOFC stack is based on Ceres Power's unique SteelCell technology,
which is able to work with a variety of high efficiency fuel types
(including biofuels) applicable to the automotive sector. This
offers a potential path to significantly accelerate the take up of
electric vehicles, reducing CO2 and other emissions, and making
significant progress towards the UK's low carbon energy
targets.
Phil Caldwell, Ceres Power's Chief Executive Officer said:
"We are delighted to be working with Nissan and M-Solv to enable
an all-electric vehicle with a longer range and shorter refuelling
time and to help cut vehicle emissions globally. In addition, this
project broadens the applications for Ceres Power's SteelCell into
the automotive industry as well using alternative fuels such as
biofuels."
For further information please contact:
Ceres Power Holdings plc Tel: +44 (0)1403
Phil Caldwell, CEO 273 463
Richard Preston, CFO
Zeus Capital (Nominated Tel: +44 (0) 20 3829
Adviser and Broker) 5000
Phil Walker / Andrew Jones
Tavistock Tel: +44 (0) 20 7920
Mike Bartlett / James Collins 3150
Notes to Editor:
About Ceres Power
Ceres Power (http://www.cerespower.com/) is a world leader in
low cost, next generation fuel cell technology for use in
distributed power products that reduce operating costs, lower CO2,
SOx and NOx emissions, increase efficiency and improve energy
security. The Ceres Power unique patented SteelCell technology
generates power from widely available fuels at high efficiency and
is manufactured using standard processing equipment and
conventional materials such as steel, meaning that it can be mass
produced at an affordable price for domestic and business use.
Ceres Power offers its partners the opportunity to develop power
systems and products using its unique Steel Cell technology and
know-how, combined with the opportunity to supply the Steel Cell in
volume through its manufacturing partners.
www.cerespower.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCEALKXADKKEFF
(END) Dow Jones Newswires
June 28, 2016 02:00 ET (06:00 GMT)
Ceres Power (LSE:CWR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Ceres Power (LSE:CWR)
Historical Stock Chart
From Apr 2023 to Apr 2024