Business
Ceres to Develop Residential Power Systems
Ceres to Develop Residential Power Systems.
About this update from Ceres Power Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 7862E Ceres Power Holdings plc 11 May 2017 \n\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \nCeres Power Holdings Plc\n(\"Ceres Power\" or the \"Company\")\n \nCERES POWER TO DEVELOP RESIDENTIAL POWER SYSTEMS WITH PARTNER \nAgreement with global OEM partner extends the SteelCell™ technology into power systems for residential applications and is part-funded by Innovate UK\n \nCeres Power Holdings plc (AIM: CWR) is pleased to announce a new SOFC (Solid Oxide Fuel Cell) System Joint Development Agreement with one of the global OEMs in its partner portfolio.\nThis new 2 year agreement will enable Ceres Power to jointly develop power generation systems for residential markets using its unique metal supported SteelCellTM technology. \nThe SteelCell™ offers an affordable path for fuel cell power systems which can address the need for decarbonising power and heat across the world. This key challenge has inspired successful support mechanisms for fuel cell systems across many countries at government level. \nRecognising the decarbonisation of heat in houses as a defining issue for CO2 reduction targets, the UK Government is supporting the development of the SteelCell™ into residential power systems through £0.7m of funding to Ceres Power from Innovate UK.\nCeres Power is working with global OEMs to embed the SteelCell™ technology into power systems for Residential Applications, Businesses, Data Centres and Electric Vehicles.\n \nPhil Caldwell, Chief Executive of Ceres Power commented:\n\"I am delighted to be developing a next generation power system with the SteelCell™ technology at its core with one of our world-leading partners. We look forward to taking our latest system designs and recent real-world operating experience and combining it with our partner's product expertise\".\n \n\n\n\n\nFor further information, please contact:\nCeres Power Holdings plc\nPhil Caldwell, CEO\nRichard Preston, CFO\nDan Caesar, Communications & Marketing Director\n \n\n\n \n+44 (0)1403 273 463\n\n\n\n\nZeus Capital (Nominated Adviser and Broker)\nPhil Walker/Andrew Jones\nHugh Kingsmill Moore\n \n\n\n+44 (0) 20 3829 5000\n\n\n\n\nPowerscourt\nPeter Ogden/Andy Jones\n\n\n+44 (0) 20 7250 1446\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n \...