Business
Doosan to develop Ceres-based marine SOFC system
Doosan to develop Ceres-based marine SOFC system.
About this update from Ceres Power Holdings Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8032E\n Ceres Power Holdings plc\n 10 November 2020\n \n \n \n \n 10 November 2020\n \n \n Ceres Power Holdings plc \n \n \n \n \n \n DOOSAN ANNOUNCES PLANS TO DEVELOP CERES-BASED MARINE FUEL CELL SYSTEM \n \n \n \n \n \n · \n Doosan Fuel Cell announces the signature of a Memorandum of Understanding with Navig8 for the joint development of a solid oxide fuel cell (SOFC) system that provides cleaner power for ships, enabling them to reduce carbon emisions and improve air quality\n \n \n · This system will be based on Ceres' proprietary SteelCell SOFC stack technology\n \n · Marine applications could represent a significant expansion of Doosan's future business for the Ceres SOFC technology beyond the established stationary power market\n \n \n \n \n \n Horsham, UK\n \n : Ceres Power Holdings plc (\"Ceres\", the \"Company\") (AIM: CWR.L), a global leader in fuel cell and electrochemical technology, and Doosan Fuel Cell Co., Ltd (\"Doosan\") recently announced a strategic collaboration which includes the building of an initial 50MW manufacturing facility for the manufacture under licence of Ceres' fuel cell stacks in South Korea.\n \n \n \n \n \n Today Doosan announces that it has signed a Memorandum of Understanding for the joint development of a solid oxide fuel cell system for marine propulsion and power generation with Navig8, a major shipping company headquartered in Singapore which operates 140 chemical and oil tankers globally. Doosan will develop and install a SOFC power and propulsion system in a 50,000 ton chemical tanker owned by Navig8 for as a pilot program for commercialization. \n \n \n \n \n \n This announcement demonstrates Doosan\n '\n s commitment to expanding its new SOFC business into new and innovative market applications outside stationary power markets. The maritime fuel cell is one of the most promising clean energy sources to reduce carbon emissions and improve air quality in the shipping industry which today accounts for over 2% of global greenhouse gas (GHG) emissions. The International Maritime Organization (IMO) has announced stronger regulations to cut emissions by 50% by 2050, compared with the 2008 level. Marine fuel cells will contribute to compliance with greenhouse gas emissions regulations in the industry, and Doosan's pilot prog...