RCS - Ceres Power Holdings - SteelCell Technology Update <Origin Href="QuoteRef">CWR.L</Origin>

Ceres Power HoldingsAnnouncement

02/11/2016 07:06

RNS Number : 0523O
Ceres Power Holdings plc
02 November 2016
2 November 2016
Ceres Power Holdings plc
"Ceres Power" or "the Company"
CERES POWER'S STEELCELL TECHNOLOGY MAKES MAJOR ADVANCEMENTS
Ceres Power Holdings plc (AIM: CWR) is pleased to announce that the latest iteration of the SteelCell platform (version 4) has been released to customers on time and on budget, reinforcing the Company's reputation for successfully executing against its technology roadmap. Higher power density and start-up timescales compatible with vehicle applications have been proven, making the platform increasingly commercially attractive in a growing number of markets (see video here: Technology Update)
Ceres Power's existing and potential partners will benefit from SteelCell version 4, and with further exciting core technology developments on-going, the Company fully expects further improved iterations of the SteelCell platform to be released going forward. The net electrical efficiencies now being delivered led to an award from the US Department of Energy, which will see Ceres Power working with global power leader, Cummins, in the development of technology for the emergent data centre market (see release here: Ceres & Cummins).
Mark Selby, Chief Technology Officer at Ceres Power said:
"A year ago Ceres Power committed to delivering SteelCell version 4, and the latest advancements successfully incorporated are testament to the team's ability to execute. The primary objective to reduce manufacturing costs was achieved through removal of over 20% of the processing steps and improved material utilisation. The performance of the platform has been further improved to deliver in excess of 50% net electrical efficiency in prime power applications. Performance through 1000s of rapid hot/cold cycles has also been confirmed, to the point that compatibility with vehicle and genset applications is being demonstrated."
For further information, please contact:
Ceres Power Holdings plc
Dan Caesar, Communications & Marketing Director
Tel: +44 (0)1403 273 463
Zeus Capital (Nominated Advisor & Broker)
Phil Walker / Andrew Jones
Tel: +44 (0) 20 3829 5000
Tavistock
Mike Bartlett / James Collins
Tel: +44 (0) 20 79203150
 
Notes to Editors:
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. Ceres Power's unique, patented SteelCell technology generates power from widely available fuels at high efficiency and is manufactured using standard processing equipment and conventional materials such as steel, meaning it can be mass produced at an affordable price for domestic and business use.
Ceres Power offers its partners the opportunity to develop power systems and products using its unique SteelCell technology and know-how, combined with the opportunity to supply the SteelCell in volume through its manufacturing partners.
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