REG - Ceres Power Holdings - Ceres confirms Denso as the latest licence partner

Ceres Power HoldingsAnnouncement

06/08/2024 07:00

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RNS Number : 2588Z  Ceres Power Holdings plc  06 August 2024

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
(https://www.investormeetcompany.com/ceres-power-holdings-plc/register-investor)
.

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For further information visit www.ceres.tech (http://www.ceres.tech/) or
contact:

 Ceres Power Holdings plc          Tel: +44 (0)7884 654179

 Patrick Yau/ Merryl Black         Email: investors@cerespower.com

 FTI Consulting (Financial PR)     Tel: +44 (0)203 727 1000

 Dwight Burden / Ben Brewerton     Email: ceres_power@fticonsulting.com (mailto: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 (http://www.ceres.tech) or follow us
on LinkedIn (https://www.linkedin.com/company/ceres-power/) .

 

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 (https://www.denso.com/global)

 

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