Ceres Power Holdings plc Ceres to Develop Residential Power Systems (7862E)
May 11 2017 - 2:00AM
UK Regulatory
TIDMCWR
RNS Number : 7862E
Ceres Power Holdings plc
11 May 2017
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Ceres Power Holdings Plc
("Ceres Power" or the "Company")
CERES POWER TO DEVELOP RESIDENTIAL POWER SYSTEMS WITH
PARTNER
Agreement with global OEM partner extends the SteelCell(TM)
technology into power systems for residential applications and is
part-funded by Innovate UK
Ceres Power Holdings plc (AIM: CWR) is pleased to announce a new
SOFC (Solid Oxide Fuel Cell) System Joint Development Agreement
with one of the global OEMs in its partner portfolio.
This new 2 year agreement will enable Ceres Power to jointly
develop power generation systems for residential markets using its
unique metal supported SteelCell(TM) technology.
The SteelCell(TM) offers an affordable path for fuel cell power
systems which can address the need for decarbonising power and heat
across the world. This key challenge has inspired successful
support mechanisms for fuel cell systems across many countries at
government level.
Recognising the decarbonisation of heat in houses as a defining
issue for CO(2) reduction targets, the UK Government is supporting
the development of the SteelCell(TM) into residential power systems
through GBP0.7m of funding to Ceres Power from Innovate UK.
Ceres Power is working with global OEMs to embed the
SteelCell(TM) technology into power systems for Residential
Applications, Businesses, Data Centres and Electric Vehicles.
Phil Caldwell, Chief Executive of Ceres Power commented:
"I am delighted to be developing a next generation power system
with the SteelCell(TM) technology at its core with one of our
world-leading partners. We look forward to taking our latest system
designs and recent real-world operating experience and combining it
with our partner's product expertise".
For further information, please contact:
Ceres Power Holdings plc
Phil Caldwell, CEO
Richard Preston, CFO
Dan Caesar, Communications & Marketing Director +44 (0)1403 273 463
Zeus Capital (Nominated Adviser and Broker)
Phil Walker/Andrew Jones
Hugh Kingsmill Moore +44 (0) 20 3829 5000
Powerscourt
Peter Ogden/Andy Jones +44 (0) 20 7250 1446
Notes to Editors:
About Ceres Power
Ceres Power (http://www.cerespower.com/) is a world leading
developer of low cost, next generation fuel cell technology for use
in decentralised energy products that reduce operating costs, lower
CO(2) emissions, increase efficiency and improve energy security.
Ceres Power's unique patented SteelCell(TM) technology operates on
mains natural gas and is manufactured using standard manufacturing
processes and conventional materials such as steel, meaning that it
can be mass produced at an affordable price for domestic and
business use.
www.cerespower.com
This information is provided by RNS
The company news service from the London Stock Exchange
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