LONDON, June 28, 2016 /PRNewswire/ --
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."
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.
http://www.cerespower.com
For further information please contact:
Ceres Power Holdings plc
Phil Caldwell, CEO
Richard Preston, CFO
Tel: +44-(0)1403-273-463
Tavistock
Mike Bartlett / James Collins
Tel: +44-(0)-20-7920-3150
SOURCE Ceres Power Holdings plc