REG - Ceres Power Holdings - Green hydrogen collaboration with Bosch and Linde

Ceres Power HoldingsAnnouncement

16/03/2023 07:00

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RNS Number : 1349T  Ceres Power Holdings plc  16 March 2023

CWR.L

 

16 March 2023

 

Ceres Power Holdings plc

 

Ceres collaborates with Bosch and Linde Engineering on a 1MW green hydrogen
demonstration

 

·    Assessment of Ceres' solid oxide electrolysis (SOEC) technology for
use on an industrial scale

·    Testing of lower-cost green hydrogen production with a megawatt
system

·    Two-year trial to take place at Bosch's Stuttgart site in Germany

 

Horsham, UK: Ceres Power Holdings plc ("Ceres", the "Company") (AIM: CWR.L),
a global leader in fuel cell and electrochemical technology, has signed
contracts with Linde Engineering and Robert Bosch GmbH ("Bosch") to start a
collaboration to validate the performance, cost, and operational functionality
of its SOEC technology.

 

The companies plan to prepare a two-year demonstration of a one-megawatt SOEC
system, starting in 2024 and to be located at a Bosch site in Stuttgart,
Germany. Its aim is to showcase that the technology provides a highly
efficient pathway to low-cost green hydrogen, which has a significant role to
play in harder-to-decarbonise industrial sectors.

 

Ceres has committed £100 million for the development of its SOEC
technology. Its first 100kW electrolyser module is currently on test and
initial results are providing confidence that this technology can deliver
green hydrogen at <40kWh/kg, around 25% more efficiently than incumbent
lower temperature technologies.

 

Linde Engineering has world-leading capabilities in industrial process
engineering of chemical plants and a global footprint in industrial
facilities. Coupled with Bosch's significant expertise in product
industrialisation and mass manufacturing, the companies are aiming to evaluate
and qualify SOEC technology for large scale industrial applications.

 

The SOEC programme builds on Bosch's experience of Ceres' solid oxide fuel
technology (SOFC) and the technology shares the same material sets,
manufacturing process, equipment, and stack design. The demonstration
represents an important validation of SOEC at a system level, which is a
relevant basis for potential commercialisation.

 

Phil Caldwell, Chief Executive Officer of Ceres, commented: "The vision for
our partnership with Linde Engineering and Bosch is to set a new industry
standard for solid oxide electrolysers, leading to widespread adoption in
industrial applications. By combining Ceres' unique technology, Bosch's
strength in scaled manufacturing and Linde Engineering's solid expertise
hydrogen production, processing, distribution and storage, we will establish a
partnership that can make our technology even more competitive and prepare it
for mass market adoption at scale."

 

Ends

 

 

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

 

 Ceres Power Holdings plc

 Elizabeth Skerritt                                Tel: +44(0)7932 023 283

 Investec Bank PLC (NOMAD & Joint Broker)

 James Rudd/Patrick Robb /Ben Griffiths            Tel: +44 (0)207 597 5970

 Berenberg (Joint Broker)

 Ben Wright/ Mark Whitmore                         Tel: +44 (0)203 207 7800

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

 Dwight Burden/ Tom Reynolds                       Email: ceres_power@fticonsulting.com

 

About Ceres

 

Ceres is a leading developer of clean energy technology; fuel cells for power
generation and electrolysers for green hydrogen. Its licensing model has seen
it establish partnerships with some of the world's most progressive companies,
such as Bosch, Doosan, Shell and Weichai to develop clean energy systems and
products at the scale and pace needed to address climate change for power
generation, transportation, industry, and everyday living.  Ceres is listed
on the AIM market of the London Stock Exchange ("LSE") (AIM: 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.

 

 

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