UK's Ceres Power Holdings soars on global deal with Delta Electronics

Delta Electronics

18/01/2024 08:52

** Shares of Ceres Power Holdings Plc  CWR.L  jump as much as
48.3% to 224p - top gainer across London 
    ** Stock trims gains, now up 46% 
    ** Developer of clean energy technology signs global
long-term manufacturing collaboration and licence agreement with
Delta Electronics  2308.TW  for solid oxide electrolysis cell
and solid oxide fuel cell stack production    
    ** CWR says agreement includes revenue of 43 mln pounds 
($54.6 mln) through technology transfer, development license
fees, and engineering services, of which about half is expected
to be recognised as revenue in 2024  
    ** Stock set to post best day since Nov. 29, 2012, if trend
holds
    ** Stock lost ~48% in 2023


($1 = 0.7882 pounds)

 (Reporting by Aby Jose Koilparambil)
 ((abyjose.koilparambil@thomsonreuters.com))