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Ceres Power outsources boiler assembly to Daalderop, looks to de-risk entry into Europe

Published: 00:30 24 Sep 2009 AEST

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Alternative energy company Ceres Power (AIM: CWR) said today it had agreed to outsource the manufacturing of the volume boiler assembly of its residential Combined Heat&Power (CHP) programme with British Gas to Dutch heating appliances maker Daalderop, saving it the need to build an in-house facility for the purpose.


Ceres will manufacture fuel cells at its facility in Horsham and assemble fuel cell stacks and fuel cell modules and Daalderop will be responsible for making the boiler assembly for the cells. The UK-based Ceres said Daalderop’s established market channels and experience in bringing products to the market would further mitigate the risks of its entry into the European market.


The residential CHP product, jointly developed by Ceres and British Gas, would allow households to generate their own electricity rather than take it from a centralized system. The product is expected to hit the market in 2011. British Gas has committed to forward orders for 37,500 units, while another customer Calor Gas has signed up for 20,000 units, according to Reuters.


The commencement of low volume manufacturing operations is slated for the final quarter of this year.
Ceres declined 4.7% on the London Stock Exchange today.

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