Ceres Power Holdings plc DOOSAN SOFT PRODUCT LAUNCH PLANNED FOR 2022 (3700K)
01 Septiembre 2021 - 3:27AM
UK Regulatory
TIDMCWR
RNS Number : 3700K
Ceres Power Holdings plc
01 September 2021
01 September 2021
Ceres Power Holding plc
DOOSAN ANNOUNCES SOFC INITIAL PRODUCT LAUNCH IS PLANNED FOR
2022
FOLLOWING SUCCESSFUL DEVELOPMENT OF HIGHLY EFFICIENT 10kW
SYSTEM
Horsham, UK: Ceres Power Holdings plc ("Ceres", the "Company")
(AIM:CWR), a global leader in fuel cell and electrochemical
technology, is pleased to announce that its strategic partner in
Korea, Doosan Corporation ("Doosan"), has completed the development
of its 10kW solid oxide fuel cell (SOFC) system for buildings and
houses.
Doosan Corporation announced today in Korea that it has
completed the development of the 10kW SOFC system and is planning a
soft launch of the product commercially on a small scale in 2022.
The system, using two of Ceres' 5kW SOFC stacks, has delivered 40%
higher power generation efficiency when compared with Doosan's
existing PEM based technology.
The 10kW system is similar in size to existing 5kW SOFC products
on the market in Korea, saving 50% on installation space and
maintaining the equivalent power generation efficiency. In Korea,
the fuel cell market for commercial and residential properties is
expanding because of a combination of zero-energy building
certification, public institutions' mandatory renewable energy
policy, and the local governments' mandatory private building
renewable energy policy.
Doosan Corporation Fuel Cell Power BU Head Kim Deok-hyeon said,
"After internal testing, we can confidently say that the power
generation efficiency of this product is among the highest in the
world. We will lead the fuel cell market for buildings and houses
through our products".
Phil Caldwell, chief executive of Ceres added: "This is another
example of Ceres enabling the energy transition through embedding
our unique technology in the products of world-class companies and
reinforces our view that Korea will be a leading market for
hydrogen and fuel cells."
This system design was the result of the joint collaboration
between Ceres and Doosan that was announced in July 2019. In
October 2020, Ceres and Doosan announced a further strategic
collaboration and licence agreement with a commitment to build a
50MW facility initially for the mass manufacture under licence of
Ceres' fuel cell stacks in Korea by 2024. Today, Doosan added that
since the technology development stage it has secured a domestic
supply chain for this 10kW product and has laid the foundations for
growth with domestic parts makers.
Ends
For further information visit www.ceres.tech or contact:
Ceres Power Holdings plc Tel: +44 (0)7884 654
Patrick Yau/ Elizabeth Skerritt 179/ +44(0)7932023283
Investec Bank PLC (NOMAD & Joint Tel: +44 (0)207 597 5970
Broker)
Jeremy Ellis / Patrick Robb / Ben
Griffiths
Berenberg (Joint Broker) Tel: +44 (0)203 207 7800
Ben Wright / Mark Whitmore
Madano (Financial PR) Tel: +44 (0) 20 7593
Michael Evans / Hoda Awad 4000
About Ceres Power (www.ceres.tech)
Ceres is a world-leading developer of next generation solid
oxide fuel cell (SOFC) and electrochemical technology. Its
asset-light, licensing model has seen it establish partnerships
with some of the world's largest engineering and technology
companies, such as Weichai in China, Bosch in Germany, Miura in
Japan, and Doosan in Korea, to develop systems and products that
address climate change and air quality challenges for
transportation, industry, data centres and everyday living. Ceres
is listed on the AIM market of the London Stock Exchange ("LSE")
(AIM: 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.
About Doosan Corporation ( www.doosan.com )
Since its launch in 2003, Fuel Cell Power BU, which is in charge
of Doosan Corporation's fuel cell business for buildings and
housing, has secured a wide range of technologies from designing
and manufacturing stacks and reformers, which are core fuel cell
technologies, to system integration in-house manufacturing. Doosan
Corporation announced that it has mainly produced PEMFC lineup such
as 1kW, 5kW, 10kW building/housing hydrogen fuel cells, and 1kW to
100kW hydrogen systems, and has secured product diversity through
this SOFC development.
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END
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