Bosch Forms Strategic Collaboration with Fuel-Cell Expert Ceres Power
21 August 2018 - 4:05PM
Business Wire
Flexible power supply for cities and industry
- Agreements signed: Bosch to enter into
partnership for technology development and manufacturing, and to
acquire 4 percent equity stake in Ceres Power Holdings plc.
- Stefan Hartung, Bosch: “Highly
efficient fuel cells will bring the move to alternative energy a
step closer.”
- Phil Caldwell, Ceres Power: “This
partnership with Bosch has the potential to drive the widespread
adoption of SOFC for distributed power generation products using
the Ceres Steel Cell technology.”
Bosch is pressing ahead with the development of fuel-cell
technology for potential new power systems. Together with the
technology specialist Ceres Power, based in Horsham, U.K., the
company wants to develop the next stage of solid-oxide fuel-cell
(SOFC) technology. Bosch also plans to take a 4 percent equity
stake in Ceres Power. The two companies signed a collaboration and
license agreement for the further development of technology, and
establishment of small-volume production operations at Bosch, as
well as a share purchase agreement, on August 20, 2018.
Ceres Power is a leading player in the development of
next-generation SOFC technology. Its strategy is to commercialize
its technology through mass production with partners, and to use
this technology for grid-based and distributed power generation.
The intention is that SOFC systems will be used in cities,
factories, and data centers, and also as a power supply for
charging points for electric vehicles.
Greater security of supply, more flexibility
“Bosch believes that the highly efficient fuel cell, with its
very low emissions, has an important role to play in energy
systems’ security of supply and flexibility,” says Stefan Hartung,
the Bosch management board member whose responsibilities include
the Energy and Building Technology business sector. “Fuel-cell
technology will bring the move to alternative energy a step closer,
and we will be working on this with our development partner Ceres
Power.”
With urbanization on the increase, fuel-cell technology has a
crucial role to play in securing power supplies: by 2050, it is
expected that more than 6 billion people worldwide – 70 percent of
the global population – will live in cities. Even now, the world’s
metropolises account for 75 percent of the energy consumed
worldwide. By 2035, global energy consumption will have increased
30 percent. In the future, meeting this increased demand for
electricity solely with large, centralized power stations will not
be possible.
“The vision for our partnership with Bosch is to set a new
industry standard for solid-oxide fuel cells, leading to widespread
adoption in distributed power supplies. By combining Ceres’ unique
Steel Cell technology with Bosch’s engineering, manufacturing, and
supply chain strength we will establish a strong partnership that
can make our technology even more competitive and prepare it for
potential mass production,” says Phil Caldwell, the CEO of Ceres
Power.
Small power stations for urban power supplies
SOFC technology uses an electrochemical reaction in the fuel
cell stack to convert fuel such as natural gas or hydrogen into
electricity. The environmental benefit is considerable, with much
lower emissions than from power stations that use a combustion
process.
Together with Ceres Power, Bosch will work on making SOFC
technology available for various applications: the vision is to
have small power stations set up throughout cities, as well as in
industrial areas. Because these standardized plants are highly
flexible, they will be able to cover peak demand better, as well as
faster, than conventional plants. The aim is for one SOFC module to
generate 10 kW of electrical power. Where more electricity is
needed, any number of modules with the same output can simply be
interconnected.
Using fuel cells, considerable power can be generated locally
and highly efficiently and practically without emissions. In this
way, discrete areas can be created that are largely independent of
centralized power supplies. In addition, SOFC systems are an ideal
partner for renewable forms of energy. For example, they can help
balance intermittent renewables and in the future convert “green”
hydrogen into electricity with little environmental impact.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180820005657/en/
BoschChristiane Wildt-Raid, +49 711 811-6283Twitter:
@brielajahnorCeres PowerPeter Ogden/Niall Walsh
(Powerscourt)+44 (0) 20 7250 1446
Ceres Power (LSE:CWR)
Historical Stock Chart
From Apr 2024 to May 2024
Ceres Power (LSE:CWR)
Historical Stock Chart
From May 2023 to May 2024