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RNS Number : 2956V Ceres Power Holdings plc 30 November 2023
CWR.L
30 November 2023
Ceres Power Holdings plc
("Ceres", the "Company")
Trading update
Horsham, UK: Ceres Power Holdings plc (CWR.L), a leading developer of clean
energy technology, today provides the following pre-year end trading update
ahead of the announcement of its full year results, which will be released on
Thursday 21 March 2024.
The Company noted in its interim results in September that the outcome for the
financial year ending 31 December 2023 would be dependent on the timing of
securing new licence partners. The Company is engaged in a number of
discussions with potential licence partners. An agreement with the most
imminent of the new licensees is progressing well but is now unlikely to be
signed in time for the associated revenue to be recognised in 2023. Therefore,
revenue for the full year is expected to be approximately £20-21 million (FY
2022: £22m).
Phil Caldwell, Chief Executive Officer of Ceres commented: "Despite good
progress commercially and growing interest in our SOEC technology, we have not
been able to conclude a new license partnership in this financial year. We
remain confident of securing a new commercial partnership in the coming months
and we will provide a year-end trading update in January."
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
Email: elizabeth.skerritt@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
creation 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 Bosch, Doosan, Shell and Weichai. Ceres'
solid oxide platform 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, cement 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.
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