Ceres Power Holdings PLC (LON:CWR) is to receive £7mln in funding to continue work with Nissan on fuel cell technology for electric vehicle applications.
Ceres Power, the developer of the SteelCell fuel cell technology, will receive the UK government funding through the Advanced Propulsion Centre (APC) for the project, which is being carried out in partnership with Nissan and The Welding Institute (TWI).
The new partnership builds on the successful joint development with Japanese car giant Nissan over the past two years and sees Ceres Power accelerating commercialisation of its SteelCell fuel cell technology in automotive markets, Ceres said.
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The funding comes after a successful two-year Innovate UK funded development programme (EVRE - Electric Vehicle Range Extender); Ceres said the new project is “the natural next step” towards increased technology and manufacturing readiness for mass production of Ceres Power's SteelCell for automotive applications.
The project will involve the design, build, test and demonstration of a compact, robust, UK-produced solid oxide fuel cell stack, deployed within a Nissan-designed fuel cell module suitable for operation with a variety of high-efficiency fuel types (including biofuels).
Fuel Cell Market 2017 Global Analysis of Key vendors – Ceres Power, Hydrogenics Corporation, SFC, Ballard, Horizon, Bloom Energy, Plug Power https://t.co/DFB1MZYp8U via @openPR
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"This latest announcement is testament to the strength of our relationship with Nissan, with whom we have already made significant strides in range extension technology over the past two years,” said Phil Caldwell, the chief executive officer of Ceres, who also expressed his gratitude for the support from the APC and UK Government.
“The SteelCell is now setting the standard for solid oxide fuel cell technology around the world. This year we have delivered on our commercial objectives and we continue to target an additional broad strategic collaboration in 2018," Caldwell added.