viewCeres Power Holdings PLC

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 Holdings PLC -

Ceres Power Holdings PLC (LON:CWR) has the potential to be a long-term winner of the clean energy transition according to Berenberg.

The broker says that the current share price implies the solid oxide fuel cell specialist Ceres will achieve sales of £400mln by the end of 2035.

On its estimates, Berenberg suggests this significantly underestimates the opportunity and its new bottom-up supply-side modelling points to revenues of £750mln-1,200mln by 2035 just from fuel cells alone.

Add in electrolysis (revenues of between £150-20mln) and Berenberg says tit can envisage more than 200% upside to the current share price.

The share price has dipped 35% from its highs but with the backdrop of government policies, corporate investment, the geopolitical backdrop, hydrogen technology and renewable energy costs a growing climate crisis all supporting the use of hydrogen, Ceres is a conviction buy says Berenberg, which has a 1,560p price target.

Shares rose 6% to 1,196p.

Quick facts: Ceres Power Holdings PLC


Price: 1140 GBX

Market Cap: £2.17 billion

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