Business
Ceres signs boiler assembly a
Ceres signs boiler assembly a.
About this update from Ceres Power Holdings Plc
[{"type":"text","content":"\n RNS Number : 4834Z Ceres Power Holdings plc 23 September 2009 \n \n \n23 September 2009 \n \nCeres Power Holdings plc\n('Ceres Power', 'Ceres' or the 'Company')\n\nCeres signs boiler assembly agreement with Daalderop BV\nCeres Power announces that it has entered into a long-term supply agreement with Daalderop BV ('Daalderop') for the volume boiler assembly of the Company's residential Combined Heat and Power ('CHP') programme with British Gas. Ceres will mass manufacture in-house, at its facility in Horsham, fuel cells and assemble fuel cell stacks and fuel cell modules in volume. The boiler assembly will be manufactured in volume by Daalderop, in accordance with Ceres Power's complete CHP product design. \n\nDaalderop is a leading manufacturer of innovative, high-efficiency domestic heating appliances including condensing boilers, heat pumps and water heaters. The company operates from its new production facilities located at Tiel, in the Netherlands and has an overall production capacity of 200,000 units per annum across its product range. The company has extensive in-house product engineering capabilities and is the market leader in water heaters in the Benelux region. Daalderop has recently won awards in the Netherlands and the UK for its innovative hybrid domestic heating appliances.\n\nThe agreement with Daalderop provides Ceres Power with access to a cost-effective volume condensing boiler capability thereby avoiding the additional capital costs and risks of building an in-house volume assembly capability. Daalderop brings innovative gas appliance engineering expertise and a well-established volume global supply chain for standard boiler components. Daalderop's strong brand in the Benelux region, established market channels and experience of bringing new products to market could further de-risk Ceres' entry into the growing European market. \n\nHaving completed the fit-out of its fuel cell mass manufacturing facility in Horsham in July 2009, Ceres Power has now installed all of the key manufacturing machinery for the initial manufacturing line and is on track to begin initial low volume manufacturing operations in Q4 2009. The boiler assembly agreement with Daalderop together with other key supply chain relationships now in place for balance of plant components allows ...