REG - Ceres Power Holdings - Weichai signs manufacturing licence for SOFC power

Ceres Power HoldingsAnnouncement

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RNS Number : 1987G  Ceres Power Holdings plc  05 November 2025

5 November 2025

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 ("UK MAR") which is part of UK law
by virtue of the European Union (Withdrawal) Act 2018. The information is
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Ceres Power Holdings plc

Weichai signs manufacturing licence for SOFC power

 

Ceres Power Holdings plc ("Ceres" or the "Company") (CWR.L), a leading
developer of clean energy technology, has signed a manufacturing licence
agreement for the production of Ceres' proprietary solid oxide fuel cell
("SOFC") technology with Weichai Power ("Weichai"), a global original
equipment manufacturer ("OEM") and power systems developer headquartered in
Shandong, China.

Highlights

·    Builds upon a strong, existing commercial relationship with Weichai -
Weichai will now manufacture cells and stacks for their stationary power
systems. This agreement supersedes existing agreements with Weichai.

·    Further expands Ceres global manufacturing partner portfolio to four.

·    Significant revenue and cash generation - licence fees, milestones
and royalties are consistent with previous Ceres manufacturing licensing
agreements.

Weichai intends to establish a manufacturing facility to produce cells and
stacks for the stationary power markets supported by key components supplied
from Ceres, targeting power for AI data centres, commercial buildings and
industrial applications. SOFC systems will complement Weichai's existing
product portfolio for power generation, including gas engines and powertrains.
 

Given the timing of the agreement, revenue recognition for the licence fees
are likely to be booked in FY26 so 2025 Group revenues will remain as
previously guided.

 

Commenting on the new partnership Phil Caldwell, CEO of Ceres, said: "We are
excited to extend our relationship with Weichai with a manufacturing licence
to produce Ceres-based products in China, further expanding the ecosystem for
our technology. Our relationship with Weichai, a leading supplier of
conventional gas engines in China and internationally, represents both an
endorsement of Ceres technology and a significant business opportunity for
both companies.

"There is now an acute need for power systems to service AI data centres,
industrial power needs, grid reinforcement and commercial buildings. Adding
Ceres' high efficiency SOFC that can be deployed where the power is needed at
pace represents a multi-billion market opportunity and continues our mission
to establish Ceres as the industry standard solid oxide technology."

 

Ends

 

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

 MHP Group (PR Adviser)                       Tel: +44 (0)7831 406117

 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 to produce 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, including AI data centres, commercial and industrial applications,
and produces green hydrogen at high efficiencies as a route to decarbonise
emissions-intensive industries such as ammonia, steelmaking and electrofuels.
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
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About Weichai

Weichai is a Chinese state-owned enterprise listed on the Main Board of both
the Hong Kong Stock Exchange and Shenzhen Stock Exchange with a market cap of
over USD$18 billion. With 100,000 employees worldwide and sales of more than
US$30 billion in 2024, Weichai is one of the most competitive automobile and
equipment manufacturing companies in China. Weichai's main business covers
powertrain systems, commercial vehicles, agricultural equipment, smart
logistics and other business segments. Its subsidiaries are located throughout
Europe, North America, Asia and other regions, and products are exported to
more than 150 countries and regions.

 

 

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