Ceres Power Holdings plc Ceres & Cummins US DOE Award for Data Centre Power (6274I)
September 01 2016 - 2:00AM
UK Regulatory
TIDMCWR
RNS Number : 6274I
Ceres Power Holdings plc
01 September 2016
Ceres Power Holdings plc
("Ceres Power" or "the Company")
1 September 2016
This announcement contains inside information
CERES POWER AND CUMMINS WIN US DEPARTMENT OF ENERGY AWARD TO
DEVELOP FUEL CELL POWER SYSTEMS FOR DATA CENTRES
COLLABORATION FOCUSED ON DELIVERING SIGNiFICANT COST SAVINGS AND
ENVIRONMENTAL IMPROVeMENts
Ceres Power Holdings plc (AIM:CWR) is pleased to announce its
key development role in a recently selected US Department of Energy
("DOE") programme awarded to Cummins Inc. (NYSE: CMI) ("Cummins").
Ceres Power will benefit from up to US$2.6m of the total US$4.9m
project, which includes contributions from Cummins, US DOE and
other parties, subject to final contract.
Ceres Power and Cummins will develop a novel 5kW Solid Oxide
Fuel Cell ("SOFC") modular system targeting high electrical
efficiency (60 percent) and scalable to meet multiple distributed
power applications up to 100kW. The initial target application will
be the data centre market; however, wider applicability to other
markets such as commercial combined heat and power will also be
considered. Ceres Power's unique Steel Cell offers greatly enhanced
robustness to real-world operating conditions at a lower cost than
conventional SOFC designs, as well as being fuel flexible, highly
efficient and with lower emissions.
If successfully implemented into data centres, the Steel Cell
will enable data centre operators to cut current overall costs by
more than 20 percent and reduce their carbon footprint by up to 49
percent. It has the potential to reduce world energy use
significantly as data centres currently consume nearly two percent
of the world's electrical power.
The award is under the US DOE Funding Opportunity Announcement
DE-FOA-0001469 titled "Solid Oxide Fuel Cell Innovative Concepts
and Core Technology." Ceres Power and Cummins will work closely
with its consortium partners, University of Connecticut ("UConn")
and Pacific Northwest National Laboratory ("PNNL"), one of the US
DOE's national laboratories, to test the system to validate its
feasibility in the target applications.
Phil Caldwell, Ceres Power's Chief Executive Officer said:
"This is a very exciting opportunity for Ceres Power to work
with Cummins and the US DOE to address the rapidly growing market
for cleaner distributed power for data centres and other commercial
applications and strengthens our relationships in North America, a
key market for our Steel Cell technology"
Wayne Eckerle, Cummins VP - Corporate Research and Technology
said:
"We are looking forward to working with Ceres Power, UConn, and
PNNL to develop and ultimately commercialize this technology that
can reduce costs for data centers and other potential customers
while helping improve our environment. This is another example of
technological collaboration that is a win for our companies, a win
for our customers and a win for the environment."
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 (Financial PR) Tel: +44 (0) 20 7920
Mike Bartlett / James Collins 3150
Cummins
Jon Mills, Director - External Communications Tel: +1 (317) 658-4540
jon.mills@cummins.com
Notes to Editors:
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 Steel Cell 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
About Cummins Research and Technology
Cummins values investment in research and development of new
technologies, partnering with the USDOE and other government
agencies. Additionally, the company devoted at least $700 million
to research and development expenses for a fourth consecutive year
in 2015, reaching $718 million.
The company is continuing its research and development focus on
both critical future technologies and improving current
technologies to meet future emissions and customer requirements
around the world. Cummins' Research and Technology organization
develops new technology six to 10 years, and sometimes longer,
ahead of commercial production.
About Cummins Inc.
Cummins Inc., a global power leader, is a corporation of
complementary business units that design, manufacture, distribute
and service diesel and natural gas engines and related
technologies, including fuel systems, controls, air handling,
filtration, emission solutions and electrical power generation
systems. Headquartered in Columbus, Indiana (USA), Cummins
currently employs approximately 55,000 people worldwide and serves
customers in approximately 190 countries and territories through a
network of approximately 600 company-owned and independent
distributor locations and approximately 7,200 dealer locations.
Cummins earned $1.4 billion on sales of $19.1 billion in 2015.
Press releases can be found on the Web at www.cummins.com. Follow
Cummins on Twitter at www.twitter.com/cummins and on YouTube at
www.youtube.com/cumminsinc.
This information is provided by RNS
The company news service from the London Stock Exchange
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