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Ceres Power makes a splash at the Fuel Cell Expo

Published: 09:07 01 Mar 2018 GMT

SteelCell stack
StgeelCell is future-proofed as it can already operate on hydrogen, bio-fuels and other sustainable fuels

Shares in Ceres Power Holdings PLC (LON:CWR) provided some cheer in a chilly market on Thursday with news of more progress with its SteelCell technology.

The company unveiled a new 5kW (kilowatt) stack platform and the latest advancements of its SteelCell V5 at the Fuel Cell Expo in Japan.

Dr Subhasish Mukerjee, director of Fuel Cell Development, updated the international fuel cell community on the significant progress that the SteelCell technology has made in terms of power density, efficiency, degradation, start-up times and in vibration testing, Ceres told shareholders.INVESTMENT OVERVIEW

READ: Ceres Power driving higher on the back of big name development collaborations

The 5kW stack now provides double the power per litre compared to the existing 1kW stack, at around 500 watts per litre.

The modular nature of the 5kW stack allows for significant scale-up to power applications ranging from 5kw to hundreds of kilowatts of generation.

"This is an exciting time for Ceres Power and the fuel cell market as a whole. As polluting combustion technologies are displaced, cleaner electrochemical technologies that offer flexibility and resilience, such as the SteelCell, are increasingly in high demand,” declared Mark Selby, the chief technology officer of Ceres said.

“We have been very pleased with the technological advancements that we have made with the V5cell and are constantly striving to make further improvements to address the demand we are seeing from our commercial partners,” he added.

Phil Caldwell, the chief executive officer of Ceres, paid tribute to the company’s “world-class technology team” and said Ceres is becoming a global leader in the fuel cell market.

“We are establishing the SteelCell as a new class of fuel cell that is highly efficient, fuel flexible and cost effective, which offers a real alternative to replace conventional combustion engine and power generation technology in an increasingly electric future," Caldwell said.

The shares were up 2.5% at 14.625p in the first hour of trading.

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