Ceres Signs First Hydrogen Licence With Delta
18 January 2024 - 10:13PM
Business Wire
Ceres Power Holdings plc (CWR.L), a leading developer of clean
energy technology, and Delta Electronics (“Delta”), a global leader
in power and thermal management solutions, today make a joint press
release on their collaboration, which is shown in full at the end
of this statement.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240118328723/en/
Ceres CEO, Phil Caldwell, and Delta Head
of Hydrogen Energy Business Division, Charles Tsai (Photo: Business
Wire)
Ceres and Delta have signed a global long-term manufacturing
collaboration and licence agreement for both solid oxide
electrolysis cell (“SOEC”) and solid oxide fuel cell (“SOFC”) stack
production.
- The agreement includes revenue of £43 million to Ceres through
technology transfer, development license fees, and engineering
services, of which approximately half is expected to be recognised
as revenue in 2024
- There is potential for additional revenue from the sale of
Ceres development stacks to Delta
- The agreement also includes royalty payments to Ceres on future
commercial production and sale to end customers by Delta
- Technology introduction and factory construction will start
from 2024 and the initial production by Delta is expected to start
by the end of 2026
- Delta provides solutions to customers worldwide, across a
myriad of sectors including chemicals, energy, transportation,
steel and more, with strong ambition for future scale up
Headquartered in Taiwan, Delta employs over 80,000 people across
approximately 200 facilities worldwide and is listed on the Taiwan
Stock Exchange with a market capitalisation of approximately US$23
billion. Delta’s expertise in mass manufacturing, power electronics
and data centres for customers like Microsoft, has seen it
diversify into turnkey decarbonisation solutions and the
development of smart buildings, energy infrastructure, grid
balancing and energy storage for customers such as Tesla.
Phil Caldwell, CEO of Ceres commented, “It’s great to
announce a new partnership today with Delta, a company with
worldwide expertise in mass manufacturing, power electronics and
system integration. We believe Delta can deliver efficient clean
hydrogen solutions for its customers utilising both our SOFC and
SOEC technologies. Green hydrogen has a key role to play in
delivering a more secure and sustainable future energy system and
today we take this first step towards what promises to be a strong
collaboration with Delta to accelerate the industry globally.”
Read the joint press release here.
For further information visit www.ceres.tech.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240118328723/en/
FTI Consulting (Financial PR) Dwight Burden / Ben Brewerton Tel:
+44 (0)203 727 1000 Email: ceres_power@fticonsulting.com
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