Business
Energy EDF contract
Energy EDF contract.
About this update from Ceres Power Holdings Plc
[{"type":"text","content":"\n Ceres Power Holdings plc\n27 March 2007\n\n \n \n Ceres Power Holdings plc\n ('Ceres', 'Ceres Power' or the 'Company')\n \n Ceres secures funded development contract with EDF Energy Networks\n to design, build and evaluate domestic power products\n\n\nCeres Power, the AIM-quoted fuel cell group, today announces that it has entered\ninto a programme with EDF Energy Networks to design and build innovative power\ngeneration appliances to provide back-up electricity for the home. This new\ncommercial relationship is part of the Company's strategy for providing\n'on-site' power generation from cylinder gas, and will help create a new range\nof products in addition to the Company's existing Combined Heat and Power (CHP)\ninitiatives running on the natural gas network.\n\nEDF Energy Networks is the UK's largest electricity distributor, providing power\nto a quarter of the UK's population via its distribution networks in London, the\nSouth East and the East of England. It is part of the EDF Group, an integrated\nenergy operator present in all sectors of the electricity industry, and also\noffering natural gas and energy services, with over 40 million customers\nworldwide.\n\nEDF Energy Networks will be funding the project through Ofgem's Innovation\nFunding Incentive mechanism, and will be paying over £600,000 to Ceres\nrepresenting its 50% share of the £1.2 million costs of the first phase of the\nprogramme. Ceres will design and build initial prototype products available for\nevaluation during 2008 and 2009. These products will combine the Company's\nunique fuel cell technology with batteries in a hybrid format. Initial users are\nexpected to be vulnerable customers for whom the security of a dependable home\npower supply in the event of grid interruption is extremely important. There are\nover 100,000 such customers on EDF Energy Networks' register for priority\nservices.\n\nThe next phase of the agreed programme covers delivery of production-ready units\nto EDF Energy Networks, and entry into a volume supply contract.\n\nSimilar products can be used for related 'on-site' applications including\nuninterruptible power supplies (UPS), load-shedding solutions, remote power\ngeneration and battery charging. Addressable markets include homes, small and\nmedium sized enterprises (SMEs), leisure, retail and healthcare. The contract\nwi...