Ceres Power Holdings plc First Range Extender Bus Prototype
05 September 2019 - 4:01PM
RNS Non-Regulatory
TIDMCWR
Ceres Power Holdings plc
05 September 2019
5 September 2019
CERES POWER HOLDINGS PLC
CERES POWER AND WEICHAI POWER DEVELOP FIRST RANGE EXTENDER BUS
PROTOTYPE
Ceres Power (AIM: CWR, "Ceres Power", "Ceres"), a world leading
developer of next generation fuel cell technology and Weichai Power
("Weichai"), one of the leading automobile and equipment
manufacturing companies in China, are pleased to announce they have
completed the development of a first prototype range extender for
Chinese electric buses.
Following a successful technology transfer and the licensing of
system-level technology from Ceres to Weichai Power, the combined
team has produced a first prototype 30kW SteelCell(R) Solid Oxide
Fuel Cell ("SOFC") range extender system, which met the required
technical performance criteria, for demonstration in an Electric
City bus utilising widely available Compressed Natural Gas ("CNG")
fuel.
This marks the completion of the initial Joint Development
Agreement ("JDA") between Ceres and Weichai, the first step in the
collaboration first announced in May 2018 and cements a strong
working relationship between the two companies.
Ceres and Weichai are now focused on developing the next stage
system to go on bus field trials in 2020.
Following these field trials, Weichai and Ceres intend to
establish a fuel cell manufacturing joint venture in Shandong
Province in 2020, China to manufacture SteelCell(R) SOFC
systems.
Phil Caldwell, CEO of Ceres Power said:
"The production of this first prototype marks a key development
milestone in our relationship with Weichai following the strategic
partnership we announced in May 2018. China is the world's fastest
growing market for fuel cells and the electric powered bus sector
has particularly significant potential as part of this broader
growth. Our focus now is on developing and trialing the technology
further in 2020 and to establish a high-volume manufacturing JV
alongside Weichai in Shandong Province in order to best serve the
Chinese market."
- Ends -
For further information, please contact:
Ceres Power Holdings plc Tel: +44 (0)1403 273
Phil Caldwell, CEO 463
Richard Preston, CFO
Investec Bank plc (Nominated Adviser Tel: +44 (0) 20 7597
and Broker) 4000
Jeremy Ellis / Patrick Robb / Richard
Short
Berenberg (Joint Broker) Tel: +44 (0) 20 3207
Ben Wright / Mark Whitmore 7800
Powerscourt Tel: +44 (0) 207 250
Peter Ogden/James White/Oliver Norgate 1446
About Ceres Power
Ceres Power (http://www.cerespower.com/) is a world leader in
low cost, next generation fuel cell technology for use in
distributed power products that reduce operating costs, lower CO2,
SOx and NOx emissions, increase efficiency and improve energy
security. The Ceres Power unique patented SteelCell(R) technology
generates power from widely available fuels such as natural gas and
future fuels such as Hydrogen at high efficiency. The SteelCell(R)
is manufactured using standard processing equipment and
conventional materials such as steel, meaning that it can be mass
produced at an affordable price. Ceres Power offers its partners
the opportunity to develop power systems and products using its
unique technology and know-how, combined with the opportunity to
supply the SteelCell(R) in volume through manufacturing
partners.
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END
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