6 August 2024
Ceres Power Holdings
plc
("Ceres", the
"Company")
Ceres confirms Denso as the latest
licence partner
Ceres Power Holdings plc (CWR.L), a leading
developer of clean energy technology, and Denso Corporation
("Denso"), a global original equipment manufacturer, today provide
further information on a long-term licence agreement for the
manufacture of Ceres' proprietary solid oxide electrolyser cells
for hydrogen applications. This provides additional detail to the
previous announcement made on 22 July 2024 highlighting the terms
of this agreement.
·
Secures another world-class OEM partner for Ceres with the
scale, expertise and resource to manufacture advanced equipment for
the growing green hydrogen sectors
· The
agreement includes significant revenues for Ceres over multiple
years, with a similar profile to previous Ceres OEM licences,
including licence fees, engineering services and hardware. It also
provides for royalty payments to Ceres on future
commercial production and sale to end customers by
Denso
Denso is a Fortune 500 company,
headquartered in Kariya, Japan, employing over 160,000 people in 35
countries and regions worldwide. It aims to leverage the
expertise of system control and thermal
management it has built in automotive system
development to develop technology in the fields of hydrogen
production. This partnership will enable Denso to produce Ceres'
current and future generations of stack technology under licence,
in line with its aim to establish a hydrogen supply
chain.
Phil Caldwell,
CEO of Ceres, commented: "I am
excited to announce our latest partnership with Denso. This builds
on Ceres' strategy to collaborate with leading high volume
manufacturing partners, located in regions where the energy
transition has strong momentum.
As a pioneer of the hydrogen industry globally,
Japan aims to generate investment in hydrogen worth 15 trillion yen
over the next 15 years, with specific reference to the
hard-to-abate sectors including steel, ammonia and synthetic fuel
production, for which Ceres' best-in-class solid oxide technology
is particularly well-suited offering distinct competitive
advantages.
By continuing to licence our technology to major
industrial companies, Ceres and its partner network is delivering
decarbonisation at scale and pace."
A call for investors will be held
today at 10.30 BST regarding the announcement. To register to
participate, please go to:
https://www.investormeetcompany.com/ceres-power-holdings-plc/register-investor.
End
For
further information visit www.ceres.tech or contact:
|
Ceres Power Holdings plc
Patrick Yau/ Merryl Black
|
|
Tel: +44
(0)7884 654179
Email:
investors@cerespower.com
|
|
FTI Consulting (Financial
PR)
Dwight Burden / Ben
Brewerton
|
|
Tel: +44 (0)203 727 1000
Email: ceres_power@fticonsulting.com
|
About
Ceres
Ceres is a leading developer of clean
energy technology: electrolysis for the production of green
hydrogen and fuel cells for power generation. Its asset-light,
licensing model has seen it establish partnerships with some of the
world's largest companies, such as Bosch, Doosan, Delta, Denso and
Weichai. Ceres' solid oxide technology supports greater
electrification of our energy systems and produces green hydrogen
at high-efficiencies as a route to decarbonise emissions-intensive
industries such as steelmaking, ammonia and future
fuels. Ceres is listed on the London Stock Exchange ("LSE")
(LSE: CWR) and is classified by the LSE Green Economy Mark, which
recognises listed companies that derive more than 50% of their
activity from the green economy. Read more on our website
www.ceres.tech
or follow us on LinkedIn.
About
Denso
Globally headquartered in Kariya,
Japan, Denso is a $47.2 billion leading mobility supplier that
develops advanced technology and components for nearly every
vehicle make and model on the road today. With manufacturing at its
core, Denso invests in around 180 facilities worldwide to provide
opportunities for rewarding careers and to produce cutting-edge
electrification, powertrain, thermal and mobility electronics
products, among others, that change how the world moves. In
developing such solutions, the company's 162,000 global employees are paving
the way to a mobility future that improves lives, eliminates
traffic accidents, and preserves the environment. Denso spent
around 7.7 percent of its global consolidated sales on research and
development in the fiscal year ending March 31, 2024. For more
information about Denso's operations worldwide, visit https://www.denso.com/global