Business
British Gas CHP Update
British Gas CHP Update.
About this update from Ceres Power Holdings Plc
[{"type":"text","content":"\n RNS Number : 3715X Ceres Power Holdings plc 24 June 2008 \nBritish Gas CHP update\n\nKey technical milestone achieved on contract with British Gas and independent confirmation of core CHP technology performance\n\nCeres Power is today hosting a presentation for analysts updating them on the recent progress on its CHP technology, achievements on the residential CHP contract with British Gas and providing a roadmap of its development programme through to mass market roll-out.\n\nSince the demonstration of the Company's CHP unit in September 2007, the core fuel cell module has achieved its size and weight reduction targets. In addition, we have completed the Alpha design phase of an integrated wall-mountable CHP unit with British Gas. This design meets our agreed go-to-market specification and satisfies the requirements for mass market uptake including installation, service and maintenance in a UK home. \n\nThe performance of the core fuel cell technology has been independently confirmed by AEA Energy and Environment (part of AEA Technology plc), which states that: 'On the basis of the activities and testing witnessed and the data presented, we can confirm the following statements:\n\n\n\nCeres Power has developed and demonstrated a fuel processing capability to efficiently steam reform natural gas in its compact fuel processor unit.\n\n\nCeres Power has achieved a target heat to power ratio of 1:1 from its stack technology operating on reformed natural gas.\n\n\nThe Ceres Power CHP system Alpha target efficiency can be achieved from its Alpha design'\n\n\n\nCeres Power is confident that it can meet the targets and timescale for mass market roll-out of the CHP product in 2011 using scaleable volume manufacturing processes and volume supply chain partners. The Company expects to have built and tested the Alpha CHP product in Q4 2008 and Q1 2009 respectively, secured a mother plant site in Q4 2008 and signed-off the Alpha deliverables as trigger for payment of £2m from British Gas during Q2 2009.\n\nPeter Bance, Chief Executive Officer of Ceres Power, commented:\n\n'We are delighted to have achieved this important milestone and now h...