Ceres Power Holdings plc Ceres Power to Trial Home Power Systems in the UK (0129J)
September 06 2016 - 1:00AM
UK Regulatory
TIDMCWR
RNS Number : 0129J
Ceres Power Holdings plc
06 September 2016
6 September 2016
Ceres Power Holdings Plc
("Ceres Power" or "the Company")
This announcement contains inside information.
CERES POWER TO TRIAL HOME POWER SYSTEMS IN THE UK
Ceres Power Holdings plc (AIM: CWR) is pleased to announce that
it will begin trials of its prototype home power systems in the UK
later this year. This will be supported by EUR600,000 of European
funding, as it joins the ene.field fuel cell residential
demonstration programme, the largest of its kind in Europe.
The systems are designed to generate around 80% of a typical UK
home's power needs and all its hot water. It does this more
efficiently than the existing UK grid, reducing the energy
consumption and carbon emissions of a typical home by up to one
third, and leading to cheaper fuel bills for the consumer. The home
power system uses Ceres Power's unique Steel Cell technology which
works with a conventional gas connection today, but is fuel
flexible and could use bio-fuels or hydrogen in the future. The
compact wall-mounted system can be easily integrated to run in
conjunction with the home's existing heating system.
Ceres Power will be part of ene.field, the largest European
demonstration of fuel cells in homes, with 26 companies deploying
products across 11 European countries. These trials - which are
being conducted with British Gas in the UK - will provide Ceres
Power and its system development partners with valuable insight
into the product requirements for the European market. The Company
continues to build on its significant testing and development
programmes in Japan, South Korea and the US with leading power
system companies, which these trials complement.
Phil Caldwell, Ceres Power's Chief Executive Officer said:
"The potential for this technology to have a huge impact on
power generation is well understood in other parts of the world, as
our growing number of commercial partners demonstrates. I am
delighted that we now have the chance to deploy our technology in
the UK.
I am confident we can deliver clean and efficient power
generation into UK homes and businesses, meaning lower fuel bills
for British consumers and businesses alike."
Former Energy Secretary Amber Rudd, who visited the Company's
headquarters in Horsham, added:
"It is great to see world class UK technology from a company
such as Ceres Power joining this cross European programme with
ene.field. Distributed generation using fuel cells will have a
significant part to play in the overall energy mix going forward.
Ceres Power is well placed to deliver a positive change in how we
generate and distribute low carbon power in our homes and
businesses across the UK and Europe."
For further information please contact:
Ceres Power Holdings plc Tel: +44 (0)1403
Phil Caldwell, CEO 273 463
Richard Preston, CFO
Zeus Capital (Nominated Tel: +44 (0) 20 3829
Adviser and Broker) 5000
Phil Walker/Andrew Jones
Tavistock Tel: +44 (0) 20 7920
Mike Bartlett/James Collins 3150
Notes to Editors:
About Ceres Power
Ceres Power (http://www.cerespower.com/) is a world leader in
low cost, next generation fuel cell technology for use in
distributed power products that reduce operating costs, lower CO2,
SOx and NOx emissions, increase efficiency and improve energy
security. The Ceres unique patented Steel Cell technology generates
power from widely available fuels at high efficiency and is
manufactured using standard processing equipment and conventional
materials such as steel, meaning that it can be mass produced at an
affordable price for domestic and business use.
Ceres offer its partners the opportunity to develop power
systems and products using its unique Steel Cell technology and
know-how, combined with the opportunity to supply the Steel Cell in
volume through its manufacturing partners.
About ene.field
The ene.field project (http://enefield.eu) is the largest
European demonstration of the latest smart energy solution for
private homes: micro-CHP. It will see up to 1,000 households across
Europe able to experience the benefits of this solution.
Fuel cell micro-CHP products have a higher power-to-heat ratio
than conventional technology and are scalable, making them suitable
also for future building concepts such as low-energy and passive
houses. Experts estimate that, based on the expected electricity
generation mix in 2020, a product of this type retrofitted to a
typical family home will save between 21% and 40% of GHG emissions
compared to a condensing boiler.
The demonstration project is a step change in the volume of fuel
cell based micro-CHP units installed in homes across Europe.
ene.field will allow house owners, installers and manufacturers to
experience and evaluate the benefits of the smart energy solution
which generates both heat and electricity providing comfort and
service in private homes.
The ene.field project is co-funded by the European Commission's
Fuel Cells and Hydrogen Joint Undertaking (FCH-JU) and brings
together 26 partners, among whom are the 9 European manufactures
which will make the products available across 11 European
countries.
This information is provided by RNS
The company news service from the London Stock Exchange
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