Ceres Power Holdings plc SteelCell Technology Update
November 02 2016 - 2:00AM
RNS Non-Regulatory
TIDMCWR
Ceres Power Holdings plc
02 November 2016
2 November 2016
Ceres Power Holdings plc
"Ceres Power" or "the Company"
CERES POWER'S STEELCELL TECHNOLOGY MAKES MAJOR ADVANCEMENTS
Ceres Power Holdings plc (AIM: CWR) is pleased to announce that
the latest iteration of the SteelCell platform (version 4) has been
released to customers on time and on budget, reinforcing the
Company's reputation for successfully executing against its
technology roadmap. Higher power density and start-up timescales
compatible with vehicle applications have been proven, making the
platform increasingly commercially attractive in a growing number
of markets (see video here: Technology Update)
Ceres Power's existing and potential partners will benefit from
SteelCell version 4, and with further exciting core technology
developments on-going, the Company fully expects further improved
iterations of the SteelCell platform to be released going forward.
The net electrical efficiencies now being delivered led to an award
from the US Department of Energy, which will see Ceres Power
working with global power leader, Cummins, in the development of
technology for the emergent data centre market (see release here:
Ceres & Cummins).
Mark Selby, Chief Technology Officer at Ceres Power said:
"A year ago Ceres Power committed to delivering SteelCell
version 4, and the latest advancements successfully incorporated
are testament to the team's ability to execute. The primary
objective to reduce manufacturing costs was achieved through
removal of over 20% of the processing steps and improved material
utilisation. The performance of the platform has been further
improved to deliver in excess of 50% net electrical efficiency in
prime power applications. Performance through 1000s of rapid
hot/cold cycles has also been confirmed, to the point that
compatibility with vehicle and genset applications is being
demonstrated."
For further information, please contact:
Ceres Power Holdings plc Tel: +44 (0)1403 273
Dan Caesar, Communications 463
& Marketing Director
Zeus Capital (Nominated Tel: +44 (0) 20 3829
Advisor & Broker) 5000
Phil Walker / Andrew Jones
Tavistock Tel: +44 (0) 20 79203150
Mike Bartlett / James Collins
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. Ceres
Power's unique, patented SteelCell technology generates power from
widely available fuels at high efficiency and is manufactured using
standard processing equipment and conventional materials such as
steel, meaning it can be mass produced at an affordable price for
domestic and business use.
Ceres Power offers its partners the opportunity to develop power
systems and products using its unique SteelCell technology and
know-how, combined with the opportunity to supply the SteelCell in
volume through its manufacturing partners.
- ENDS -
This information is provided by RNS
The company news service from the London Stock Exchange
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