RCS - Ceres Power Holdings - Doosan Fuel Cell and Ceres joint announcement

Ceres Power HoldingsAnnouncement

Mon 07:00

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RNS Number : 6906S  Ceres Power Holdings plc  28 July 2025

28 July 2025

 

 

Doosan Fuel Cell and Ceres joint announcement

 

Doosan Fuel Cell begins mass production of fuel cell power systems using Ceres
technology

 

·    Major milestone for Ceres and Doosan partnership

·    Products will target rapidly growing AI/data centre and commercial
power markets

 

Horsham, UK: Ceres Power Holdings plc (CWR.L, "Ceres" or the "Company"), a
leading developer of clean energy technology, and the Doosan Corporation
announce that Doosan Fuel Cell has commenced mass market production of fuel
cell stacks using Ceres' solid oxide technology. Doosan Fuel Cell will
manufacture the stacks and fuel cell power systems at its dedicated factory in
South Korea with the ability to produce a combined generational capacity of
50MW of electrical power each year.

 

This commencement of manufacturing marks a significant milestone for Ceres, as
Doosan is the first of its strategic licensing partners to enter mass
production using its technology. The fuel cells, stacks and power systems that
Doosan Fuel Cell produces will be marketed initially to customers in South
Korea.

 

The Ceres designed fuel cells will be manufactured in Doosan Fuel Cell's
state-of-the-art factory in the province of Jeollabuk-do, South Korea, where
construction began in 2022. Its completion marks the world's first Ceres metal
supported solid oxide fuel cell and systems facility to come on-stream. Doosan
Fuel Cell anticipates the sale of its first solid oxide fuel cell products
will occur before the end of 2025.

 

Doosan Fuel Cell will distribute the solid oxide systems, with a primary
market focus on applications for stationary distributed power. These include
data centres, where the advent of AI processing has caused a spike in power
demand that can be met by the deployment of fuel cells. Other uses include the
stabilisation of renewables-based power grids and microgrids through peak
power production, power systems for buildings, and auxiliary power solutions
for marine shipping markets.

 

Phil Caldwell, Chief Executive Officer of Ceres said: "Fuel cells have a major
part to play in meeting the world's rapidly-increasing power demands,
developing energy resilience and ensuring decarbonisation. Ceres' solid oxide
design is the ideal technology for these applications through its higher
efficiency, lower cost and greater robustness than other technologies. Doosan
Fuel Cell's commencement of mass manufacturing is a major step in bringing
this technology to the world."

 

Doosoon Lee, Chief Executive Officer of Doosan Fuel Cell said: "Fuel cells, a
clean energy solution, are gaining attention as an optimal alternative to
various power demands triggered by AI, including data centres. In South Korea,
the world's leading fuel cell market, we aim to lead the adoption of advanced
SOFCs by leveraging our collaboration with Ceres. By commercialising these
technologies and promoting their domestic production, we intend to spearhead
the acceleration of the global transition to a decarbonised society through
eco-friendly energy solutions in the commercial power market and maritime
mobility."

 

 

 

Ends

 

 

 

 

For further information visit www.ceres.tech
(https://protect.checkpoint.com/v2/r06/___http:/www.ceres.tech___.ZXV3MjpuZXh0MTU6YzpvOmZlNDY3YWFjZGQ2MzU0MzUzNDZiMzRjZDkzZjZkN2M0Ojc6MGQ3YTo0ODZjNDA5YThiYTE0NmEzYzE5YWJlODgyN2YyNGE2ZDlhNWVlNTc1M2RkNzQxMjBlOGIwMTQwNDlkMDY1M2QzOnA6RjpU)
or contact:

 

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

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

 MHP Group (PR Adviser)                       Tel: +44 (0) 7827 662831

 Reg Hoare/James McFarlane/Matthew Taylor     Email: ceres@mhpgroup.com

 

About Ceres

Ceres is a leading developer of clean energy technology: fuel cells for power
generation and electrolysers for the production of green hydrogen. Its
asset-light, licensing model has seen it establish partnerships with some of
the world's largest companies, such as Doosan, Delta, Denso, Shell, Weichai
and Thermax. 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
(https://protect.checkpoint.com/v2/r06/___http:/www.ceres.tech___.ZXV3MjpuZXh0MTU6YzpvOmZlNDY3YWFjZGQ2MzU0MzUzNDZiMzRjZDkzZjZkN2M0Ojc6MGQ3YTo0ODZjNDA5YThiYTE0NmEzYzE5YWJlODgyN2YyNGE2ZDlhNWVlNTc1M2RkNzQxMjBlOGIwMTQwNDlkMDY1M2QzOnA6RjpU)
or follow us on LinkedIn
(https://protect.checkpoint.com/v2/___https:/www.linkedin.com/company/ceres-power/___.bXQtcHJvZC1jcC1ldXcyLTE6bmV4dDE1OmM6bzpkYzQ4ZmYyZjNmN2MzMDE2YzhhN2M1NWU3OThjOTgyMjo2OjdlNDM6ZjQzNDA4ZGI0ZWY2MWUwN2U3ZDE5Mjg0ODlmOThkMzQ5MjMwODI4Mzg5MWYzZDY5NDNkZTcxNGNiOWVlNzdmMDpwOkY6Tg)
.

 

About Doosan Fuel Cell.

Doosan Fuel Cell is a subsidiary of Doosan Group, which has a history of over
129 years, making it the oldest conglomerate in South Korea. As a leading fuel
cell solution provider with proprietary technology for the world's first
commercial fuel cell, Doosan Fuel Cell offers hydrogen solutions including
PAFC (Phosphoric Acid Fuel Cell) and SOFC (Solid Oxide Fuel Cell). They
provide integrated solutions encompassing the design, technology development,
manufacturing, installation, operation, and maintenance of key fuel cell
technologies such as stacks and systems. Doosan Fuel Cell, which established
the world's first and largest hydrogen fuel cell power plant, is expanding its
business area beyond stationary power to include mobility through marine
models. The company is committed to addressing climate change and achieving
Net-Zero. For more details, please visit its website at www.doosanfuelcell.com
or follow it on LinkedIn.

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