Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Ceres Power Holdings Plc gets cash boost from UK govt

The AIM quoted fuel cell group is the leader of a consortium working on a project to extend the range of electric light commercial vehicles.
Ceres Power Holdings Plc gets cash boost from UK govt
Some £573,000 will be allocated to Ceres.

Ceres Power Holdings Plc (LON:CWR) has received a cash boost from the UK government via an initiative to support development of electric vehicles.

It is the leader of a consortium that will receive a £772,000 grant from the government’s Innovate UK and The Office for Low Emission Vehicles (OLEV).

Some £573,000 will be allocated to Ceres, it said.

Ceres told investors that it will lead a team, which includes a ‘global automotive company’, to trial he company’s Steel Cell units in electric light commercial vehicles with a view to extend their range.

"We have always said that our innovative Steel Cell technology has a range of potential applications and are delighted to lead on this exciting project to help cut vehicle emissions globally,” said Phil Caldwell, Ceres chief executive.

“This is our second partnership announcement this year in line with our stated strategy to embed our Steel Cell technology into a variety of different power products with the world's leading companies."

A total of £38mln is being awarded by Innovate UK and OLEV across some 130 companies. The investments are intended to help companies develop ideas aimed at cutting vehicle emissions and allow ‘plug-in’ vehicles to drive longer distances.

Jamie_55a91591db06b.jpg
Why Invest In Ceres Power Holdings plc? Read More Here

Register here to be notified of future CWR Company articles
View full CWR profile

Ceres Power Holdings plc Timeline

Related Articles

biomass.jpg
March 10 2016
Boilers are an area of the green fuel business that have come under increasing scrutiny from the Cameron government.
Ceres-HIRES-6253.jpg
January 18 2016
The plan is to add a third party that will consider the scaling-up of the manufacture of the Steel Cell technology based on Ceres Power's existing manufacturing process.
shutterstock_112786813.jpg
April 04 2016
Atlantis Resources Ltd is making big waves in global tidal power and advancing its MeyGen site...

© Proactive Investors 2016

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.