TIDMCWR

RNS Number : 6362R

Ceres Power Holdings plc

25 September 2017

SUCCESSFUL STEELCELL(TM) TRIALS SHOW REDUCED ENERGY COSTS AND LOWER EMISSIONS FOR UK HOMES

-- Successful trials show Ceres' SteelCell(TM) is a reliable technology that will enable households to reduce their energy costs by GBP400 and carbon emissions by up to 2 tonnes per year.

   --     Home units also generated enough surplus power to meet a typical Electric Vehicle's charging requirements.

-- The ability to generate power at home or at work can alleviate future demands on the power system.

25(th) September 2017: Ceres Power Holdings plc (AIM: CWR, or "Ceres"), a world-leading developer of low cost, next generation Fuel Cells, has completed a successful year long field trial using SteelCell(TM) enabled home power systems as part of an EU-wide field trial of Fuel Cell technology, led by ene.field. The trials show Ceres' technology offers a reliable, deliverable potential answer to the looming gap between energy demand and supply.

Residential prototypes of the technology which generates power and heat, were successfully trialled in five family homes for a year in London and the South East. As a technology that enables end-users to generate their own power and heat reliably, on site at home or at work from the existing natural gas grid, Fuel Cells are a compelling power generation option. Ceres Power's SteelCell(TM) is also fuel-flexible, running on natural gas today, but is also hydrogen-ready if the gas grid is converted.

The trials illustrated that UK consumers could expect savings of around GBP400 per year on their energy bills by taking advantage of the ability of the SteelCell(TM) to provide the majority of their power and all of their hot water. In a typical UK family home, the prototype units provide around 80% of the average household's electricity needs whilst saving up to 2 tonnes of CO(2) per household, with near zero harmful NOx and SOx emissions, the equivalent of taking a diesel car off the road for a year.

The data also demonstrated that end-users can generate most of the power needed for their home, and also export enough surplus power to charge a typical Electric Vehicle (EV). Additional annual savings of over GBP1000 would be achieved if the technology gained government support through the UK's current Feed-in Tariff.

Huge increases in demand on the power grid, driven primarily by a rise in EVs require new innovative energy solutions, or the UK faces the prospect of power shortages. The National Grid's own recent Energy Scenarios(1) report predicted the number of EVs could reach 9 million by 2030, up from 90,000 today. As a result peak demand could be as much as 8GW higher in 2030. Furthermore, Data Centres, driven by the exponential rise of Cloud Computing and Connected Devices, already account for 3% of the world's total power consumption and this is growing fast.

Decentralised energy generation offered by Ceres' SteelCell(TM) technology, is critical to meeting future energy needs. With fossil-fuel power stations in the process of being phased out and, with the accelerating deployment of renewables, the emerging, transitional energy system will struggle to deliver against global energy demand. Ceres is already working with global OEMs including Honda, Nissan and Cummins, to embed the SteelCell(TM) technology into power systems for homes, businesses, as well as Data Centres and EVs.

Phil Caldwell, CEO of Ceres Power, said:

"These are very encouraging results which illustrate the huge potential of fuel cell technology. We know the grid is coming under ever increasing pressure. We also know that renewables only provide intermittent power. These trials have proven that the SteelCell can save consumers money, and generate power effectively emission-free. And they do so using the existing reliable gas network in the UK. The SteelCell offers a highly efficient and flexible answer, producing reliable power which will complement our growing reliance on renewables."

- Ends -

For further information please contact:

 
 Ceres Power Holdings plc 
  Phil Caldwell, CEO 
  Dan Caesar, Communications & Marketing 
  Director                                  +44 (0)1403 273 463 
 Zeus Capital - Nominated Adviser 
  and Joint Broker 
  Andrew Jones / Giles Balleny / Hugh 
  Kingsmill Moore                           +44 (0)20 3829 5000 
 Berenberg - Joint Broker 
  Ben Wright / Mark Whitmore / Laure 
  Fine                                      +44 (0)20 3207 7800 
 Powerscourt 
  Peter Ogden/Andy Jones                    +44 (0) 20 7250 1446

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 SteelCell technology and know-how, combined with the opportunity to supply the SteelCell in volume through its manufacturing partners.

About ene.field

The ene.field project is the largest European demonstration of the latest smart energy solution for private homes, micro-CHP. It will see up to 1,000 households across Europe able to experience the benefits of this new energy solution. The five-year project uses modern fuel cell technology to produce heat and electricity in households and empowers them in their electricity and heat choicesand brings together 27 partners, including 9 European manufacturers who will make the products available across 11 EU Member States. The ene.field project has received funding from the European Union's Seventh Framework Programme (FP7/2007-2013) for the Fuel Cells and Hydrogen Joint Technology Initiative (FCH-JU) under grant agreement ndeg 303462.

For more information, visit www.enefield.eu

(1) http://fes.nationalgrid.com/fes-document/

This information is provided by RNS

The company news service from the London Stock Exchange

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September 25, 2017 02:00 ET (06:00 GMT)

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