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Ceres Power

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Ceres Power Holdings plc
Company typePublic
IndustryAlternative Energy
Founded2001
HeadquartersHorsham, England, UK
Key people
Warren Finegold, Chair
Phil Caldwell, CEO
RevenueIncrease £22.3 million (2023)[1]
Decrease £(59.4) million (2023)[1]
Decrease £(54.0) million (2023)[1]
Number of employees
536 (2022)[1]
Websitewww.ceres.tech

Ceres Power Holdings plc is a UK developer of solid oxide electrolyzer cell[2] and solid oxide fuel cell technology[3] for use in distributed power systems aimed at decarbonising cities, factories, data centres and electric vehicle charging.[4] Founded in 2001, it is headquartered at Horsham in the UK. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. It is also classified by the LSE Green Economy Mark,[5] which recognises listed companies that derive more than 50% of their activity from the green economy.[6]

History

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In 2001, Ceres Power spun-out from Imperial College London[7] after more than 10 years of fundamental research led by Professor Brian Steele.[8]

In November 2004, Ceres was first listed on the London Stock Exchange.[9]

In September 2013, Phil Caldwell became the CEO of Ceres Power[10] following investment from IP Group.[11]

Technology

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Ceres Steel Cell

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The Ceres patented Steel Cell is a Solid oxide fuel cell (SOFC) that can operate on mains natural gas for distributed power generation.[12]

The steel cell operates at 500-600 °C which allows the use of cerium gadolinium oxide (CGO) in the anode and electrolyte and the bulk of the fuel cell to be mostly made from ferritic steel. [13]

The technology is reversible. In one direction it can generate electricity from multiple fuels; in the other, it can generate green hydrogen at low cost and high efficiencies.[14]

Hydrogen

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The UK Hydrogen Strategy cites UK companies including ITM Power, Johnson Matthey and Ceres as being at the forefront of hydrogen technology development worldwide.[15]

Ceres is an Executive Member of the UK Hydrogen and Fuel Cell Association UK Hydrogen and Fuel Cell Association[16] and a founding member of the Long Duration Energy Storage Council.[17]

Business Model

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Ceres operates a licensing business model and partners with global industry partners to develop clean energy systems and products. Partners included Bosch,[18] Weichai,[19] Doosan,[20] Miura[21] and Shell.[22]

Awards

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In July 2023, Ceres Power was awarded the 2023 MacRobert Award by the Royal Academy of Engineering.[23] This is the UK's most prestigious engineering prize.[24]

In its award citation, the academy recognised Ceres for its "ground-breaking fuel cell technology that promises to make a major contribution to decarbonising the world at the scale and pace required to save the planet."[14]

In 2021 Ceres was awarded the Queen’s Award for Enterprise 2021 in the category of International Trade.[25]

References

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  1. ^ a b c d "Annual Report 2023" (PDF). Ceres Power. Retrieved 24 April 2024.
  2. ^ "Ceres MW-scale electrolyser delivers first hydrogen". The Engineer. 7 November 2023. Retrieved 8 January 2024.
  3. ^ "Japan aims its home fuel cells at Europe". BBC. 12 March 2010. Retrieved 10 February 2023.
  4. ^ "Stationary fuel cell Bosch plans to start full scale production in 2024". Bosch. 6 December 2020. Retrieved 10 February 2023.
  5. ^ "LSE lays down tougher rules for green bond reporting". Financial Times. 11 October 2019. Retrieved 10 February 2023.
  6. ^ "Ceres Power awarded green economy mark by the London Stock Exchange". Fuel Cells Works. 13 October 2019. Retrieved 10 February 2023.
  7. ^ Bance, P.; Brandon, N.P.; Girvan, B.; Holbeche, P.; o'Dea, S.; Steele, B.C.H. (14 May 2004). "Spinning-out a fuel cell company from a UK University—2 years of progress at Ceres Power". Journal of Power Sources. 131 (1–2): 86–90. Bibcode:2004JPS...131...86B. doi:10.1016/j.jpowsour.2003.11.077. Retrieved 10 February 2023.
  8. ^ "Professor Brian Steele". The Times. 19 September 2003. Retrieved 10 February 2023.
  9. ^ "Ceres Power arrives on AIM". Investegate. 25 November 2004. Retrieved 10 February 2023.
  10. ^ "Ceres Power Holdings plc - Appointment of Philip Caldwell as CEO of Ceres Power". IP Group. 8 July 2013. Retrieved 10 February 2023.
  11. ^ "Ceres Power Holdings PLC – Revised Business Strategy". RNS. 29 November 2012. Retrieved 10 February 2023.
  12. ^ "Ceres: Fuelling doubts or full steam ahead?". Investors' Chronicle. 12 April 2022. Retrieved 23 August 2023.
  13. ^ "The Ceres Cell". Company Website. Ceres Power. Archived from the original on 13 December 2013. Retrieved 30 November 2009.
  14. ^ a b "Clean energy technology set to decarbonise the world wins UK's top award for engineering innovation - Ceres Power's pioneering clean energy technology has won the 2023 MacRobert Award". Royal Academy of Engineering. 13 July 2023. Retrieved 14 July 2023.
  15. ^ "UK Hydrogen Strategy" (PDF). HM Government. August 2021. Retrieved 10 February 2023.
  16. ^ "UK Hydrogen and Fuel Cell Association". UK Hydrogen and Fuel Cell Association. Retrieved 10 February 2023.
  17. ^ "Energy industry leaders sign agreement to create long duration energy storage council". Long Duration Energy Storage Council. 10 November 2021. Retrieved 10 February 2023.
  18. ^ "Bosch to strengthen strategic collaboration with Ceres Power". Bosch. 22 January 2020. Retrieved 10 February 2023.
  19. ^ "Weichai Power joins hands with Ceres". Weichai Power. 14 August 2018. Retrieved 10 February 2023.
  20. ^ "Doosan and Ceres Power sign South Korea fuel cell deal". Weichai Power. 20 October 2020. Retrieved 10 February 2023.
  21. ^ "Ceres Power Holdings - Ceres Power Technology in Miura Co fuel cell product launch in Japan". IP Group. 20 June 2019. Retrieved 10 February 2023.
  22. ^ "Shell megascale green hydrogen deal". Gasworld. 28 June 2022. Retrieved 10 February 2023.
  23. ^ "Ceres Power awarded 2023 MacRobert Award". The Engineer. 14 July 2023. Retrieved 14 July 2023.
  24. ^ "Ceres Power wins MacRobert Award for 'spectacular' reversible fuel cell". IMEE Engineering News. Institution of Mechanical Engineers. 14 July 2023. Retrieved 20 July 2023.
  25. ^ "Ceres Power Holdings PLC Winners of 2021 International Trade". Queens Award Magazine. Retrieved 10 February 2023.
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