Ceres Power reports commercial and financial progress in first half
The group and its partners agreed several encouraging deals during the first half, while stepping up investment in research and development, with around 100 staff hired
Company
Ceres Power Holdings PLC
LON:CWR
Ceres Power Holdings PLC is a world-leading developer of electrochemical technologies: fuel cells for power generation, electrolysis for the creation of green hydrogen and energy storage. The company's asset-light, licensing model has seen it establish partnerships with some of the world's largest engineering and technology companies, such Bosch, Doosan, Shell and Weichai, to develop systems and products that address climate change for power generation, transportation, industry, data centres and everyday living.
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Ceres Power apppoints former McLaren tech chief as new CTO
Current CTO Mark Selby will now build and lead a new team focused on developing new technologies beyond the established solid oxide portfolio
Ceres Power should be a core position for investors in energy transition - Liberum
The stockbroker sees substantial upside for Ceres as it advances its fuel cells and electrolysis businesses.
Ceres Power awarded funding for two ship emission projects
Shipping accounts for over 2% of global greenhouse gas emissions
New UK hydrogen fund has 40 companies in its sights
“The UK has missed the boat on batteries, a sector dominated by China and the Far East, but we can be global leaders in the production and supply of hydrogen,” said the fund co-founder Jo Bamford
Ceres Power Korean partner making progress with new 10KW fuel cell system
Doosan Corporation has completed development work and is ready to begin a small-scale roll-out next year
UK launches hydrogen strategy with plan to switch a third of households over by 2030
Public consultations have also been launched to find a preferred hydrogen business model to help bridge the gap in costs with fossil fuels, and on the design of a £240mln Net Zero Hydrogen Fund
Ceres Power reiterates forecasts following strong revenue growth in first half
In an update for the six months to June 30, the fuel cell specialist reported revenue and operating income of around £17mln, up from £8.9mln a year ago
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Hydrogen shares have found a base, says Citigroup
“Better order momentum” is seen in the second half of 2021
Ceres Power impresses with technology demonstration, says broker
“The key benefit of using SOEC technology to generate this hydrogen is its efficiency"
Ceres Power appoints Professor Dame Julia King as an independent non-executive director
Baroness Brown is a Fellow of the Royal Academy of Engineering, a Fellow of the Royal Society and was awarded a DBE for services to higher education and technology
Ceres Power bounces as broker spells out clean energy opportunity
New modelling points to revenues of £750mln-1,200mln by 2035 just from fuel cells alone
Ceres Power recruits former ARM Holdings executive as a new independent director
Tudor Brown will take up the role with the fuel cell and electrochemical specialist at the start of next month
Ceres Power partner Doosan strikes fuel cell deal with world's largest shipbuilder
Doosan Fuel Cell Co will work with Korea Shipbuilding & Offshore Engineering to jointly develop a megawatt-class solid oxide fuel cell system using Ceres' technology
Ceres Power completes fundraising to accelerate development of fuel cell technology
The fundraising, which has been backed by engineering giant Bosch and Chinese engine maker Weichai Power, raised gross proceeds of £181mln through a share placing and subscription
Hydrogen project pipeline tops $300bn, UK installs hydrogen homes, progress for solid-oxide electrolysis
A recent pull-back in hydrogen equipment companies’ share prices “was not directly related to hydrogen fundamentals”, analysts at Citigroup also said this week
Ceres Power revenues ahead of target as fuel cell production scales up
Orders and the pipeline at the end of the period were £54mln and £44mln respectively
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Ceres Power partners with powertrain specialist AVL List to turbocharge fuel cell adoption
Ceres expects the partnership significantly to expand the number of products integrating its technology