Ceres Power expands Bosch partnership as it moves towards mass manufacturing
"We are delighted that our relationship with our trusted partner Bosch goes from strength to strength," said chief executive Phil Caldwell
Company
Ceres Power Holdings PLC
LON:CWR
Ceres Power Holdings PLC is a world-leading developer of electrochemical technologies: fuel cells for power generation, electrolysis for the creation of green hydrogen and energy storage. The company's asset-light, licensing model has seen it establish partnerships with some of the world's largest engineering and technology companies, such Bosch, Doosan, Shell and Weichai, to develop systems and products that address climate change for power generation, transportation, industry, data centres and everyday living.
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Today's Market View - Beowulf Mining ; Ceres Power ; IronRidge Resources ; Power Metal Resources ; SolGold and more...
Beowulf Mining* (AIM:BEM) – Ex Swedish Minister appointed as NEC Ceres Power (LON:CWR) – Doosan to develop ceres-based marine fuel cell system. Invinity Energy Systems (AIM:IES)– EMEC use flow batteries and tidal power to produce hydrogen (
Ceres Power says its technology to be used in marine propulsion pilot programme
Marine applications could represent a significant expansion of Doosan's future business for the Ceres solid oxide fuel cell technology beyond the established stationary power market
Ceres Power shares get price target hike from Berenberg on Doosan deal
South Korea's Doosan is using the technology to manufacture a combine-heat-and-power unit for commercial buildings
Ceres Power inks fuel cell manufacturing deal with Doosan
“We are absolutely delighted to welcome Doosan as a strategic manufacturing partner," said chief executive Phil Caldwell
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Ceres Power: Liberum says the shares offer 'compelling value' as the broker lifts its price target
The broker has moved its marker to 720p - up from 540p
Ceres Power says trading remains strong
Despite the challenging business environment, Cres continues to deliver top-line growth with revenue and other operating income up 21% to £19.9mln (2019: £16.4mln) in the fiscal year just ended.
Hardware & electrical equipment
Citi sees Ceres Power as part of the nascent green hydrogen revolution as it initiates coverage with a 'buy'
“Favourable policy could prove a boon to suppliers of electrolysers, fuel cells and renewables, although existing suppliers of fossil fuel equipment will need to adapt to a range of new fuel sources,” the American bank's analysts said
Ceres Power tipped as likely winner in fuel cell race
On a modestly favourable penetration rate of SteelCell in the stationary power market, Berenberg gets to a price target of 580p
Hardware & electrical equipment
IP Group extends divestment programme selling 5.4% of Ceres Power shares
It comes as IP Group continues to advance a broader programme of disposals and portfolio realisations.
Ceres Power update reveals a robust performance
The clean energy specialist performed well financially and operationally
Ceres Power appoints Bosch and Weichai representatives to its board
Uwe Glock is representing German company Robert Bosch and Qinggui Hao is the nominated representative of China's Weichai
Ceres Power applauded for choice of 'tech savvy' new chairman
The broker retained its 540p target and ‘buy’ rating following Finegold’s appointment.
Ceres Power appoints Warren Finegold as its non-executive chairman with immediate effect
He succeeds Alan Aubrey who has served as chairman of Ceres since December 2012 and will remain a non-executive director to ensure a smooth handover of responsibilities before retiring from the board on September 28
Hardware & electrical equipment
Ceres Power weak as IP Group reduces its holding via a secondary placing which saw “significant investor demand”
The FTSE 250-listed group sold 12,250,000 ordinary shares in Ceres Power at a price of 425p each, having upsized the proposed transaction from an initial level of approximately 11 million ordinary shares
Ceres Power appoints Ricardo executive Mark Garrett as its chief operating officer with effect from August 10
Garrett succeeds the company's current chief operating officer James Falla, who will leave Ceres in August 2020 to pursue other opportunities
ESG stock picks: 17 companies tipped to have "a positive impact on the world"
Among the 10 London-listed companies tipped on the list are Ceres Power, Sainsbury’s and Gym Group
Ceres Power says Weichai Power opts to maintain stake with £11.2mln investment
The Chinese group bought just under 3.5mln new shares
Ceres Power expects full-year revenues to grow by around a third
At the end of 2019, Ceres had a strong order book of £22mln and a pipeline of £50mln comprising a combination of staged licensing payments and engineering services.
Ceres Power raises aggregate proceeds of £49mln in total from share subscriptions by Bosch and Weichai
As a result, Bosch's holding in Ceres will rise from 11.8% of the existing share capital to approximately 18.0% of the enlarged issued share capital
Ceres Power target price hiked as Liberum says fuel cell tech could be ‘game changer’ for electrolysis
The broker said the firm’s plans to develop an electrolysis cell capability “make a lot of sense” as it was an area where “durable, low cost and high efficiency cells offer key advantages”
Ceres Power: Broker hikes valuation; likens it to another UK technology success story
“At scale, Ceres should generate 40-50% operating margins, akin to ARM Holdings," said the London arm of the German private bank
Ceres Power appoints former Vodafone executive as an independent non-executive director
Warren Finegold held the position of Group Strategy and Business Development Director and was a member of the Vodafone Group Executive Committee for 10 years
Ceres Power nets £38mln as Bosch increases stake to around 18%
The funds will be used to research further uses for Ceres' solid oxide fuel cells and also diversify R&D activity towards electrolysis applications
Ceres Power’s technology to grow in the transition to hydrogen
The company has poured 16 years of research in technology powered by hydrogen, gas or a blend of both
Ceres Power develops zero-emission system to use with hydrogen fuel
In initial testing, the hydrogen CHP system achieved over 50% electrical efficiency with potential to reach 90%
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Ceres Power doubles revenue again as commercial agreements start to deliver
Orders were worth £28.4mln and the pipeline £50mln at the end of the year
Ceres Power develops first prototype range extender for Chinese electric buses
The prototype marks the completion of an initial joint development agreement between the two firms, part of a deal signed in May last year
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Ceres Power surges as it inks £8mln agreement with South Korean conglomerate Doosan
Doosan is one of the world’s largest fuel cell developers, having secured over £676mln in orders last year
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Ceres Power raises expectations after transformational year
The agreements with Bosch and Weichai Power have transformed the business
Ceres Power shares worth 300p, says Liberum in bullish ‘buy’ note
Liberum has initiated coverage on Ceres Power, which has developed a low-cost fuel cell called SteelCell
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Ceres Power higher as it launches first fuel cell system in Japan
The system, developed in partnership with boiler maker Miura, will comprise a 4.2-kilowatt heat and power unit targeting Japan’s commercial building sector
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Climate report augurs well for hydrogen trailblazers
New government report on climate change looks to have great significance for companies such as ITM Power, AFC Energy and Ceres Power
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Ceres Power primed for a strong second-half
The fuel cell specialist made significant headway in the first six months of its financial year, inking deals with Weichai of China and Robert Bosch
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FTSE 100 joins global equities to head lower Friday as Eurozone data weighs
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Ceres Power expects full year revenues to double as it completes “key commercial milestones” in collaboration agreements
The fuel cell developer said in a trading update that revenues and other operating income were expected to reach £15mln in the year, up from £7mln in 2017
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FTSE 100 closes lower as traders stay wary; Ashtead Group biggest faller
FTSE 250 was also down - closing around 58 points lower at 18,271
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Eyes firmly on the UK on Wednesday as US markets shutter for funeral of George HW Bush
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Weichai Power confirms further equity investment in Ceres Power and joint venture
"This is a major strategic milestone for Ceres,” said chief executive Phil Caldwell
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FTSE 100 closes firmly lower as investors realise US/China trade dispute continues
The UK index of leading shares finished down over 39 points lower at 7,022.
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Interserve weak as Kier Group cash call comments spark concerns for constructors
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Ceres Power in talks with China state-backed Weichai Power about further investment
“Ceres confirms discussions with Weichai are ongoing and a further statement will be made in due course,” the company said.
FTSE 100 clings on to triple-digit gain
The Footsie looked destined to finish well off the top but still sporting a handsome gain following a weekend of deals at the G20 and Opec meetings
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Fashion firms and a housebuilder, plus US jobs data to provide interest in the first week of Advent
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Ceres Power's orders soar following strategic partnerships
Revenues climbed 71% to £7mln, while orders are now £29.8mln from £3mln
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Greggs set to be the stand-out on a quiet Tuesday in the City
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Ceres Power to launch new UK fuel cell manufacturing facility
“The UK is establishing itself as a world leader in fuel cells with technologies such as the SteelCell growing in international reputation"
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FTSE 100 closes firmly in red as Italy causes jitters
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Weichai Power invests further £1mln in Ceres Power to keep stake at 10%
As a result of the increase in Ceres’ share capital following the Bosch’s recent equity investment, Weichai Power has stumped up a further £1mln for 663,740 shares to maintain its holding at 10%
FTSE 100 closes sharply lower as sterling gains and miners weigh
The UK blue - chip index finished down 99.8 points at 7,318, while FTSE 250 was also lower
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FTSE 100 closes day higher, boosted by rise in crude
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Ceres Power gains as firm receives top-up investment from Weichai Power
Ceres has issued shares to Bosch, as per the announcement on August 21, so Weichai has pumped in a further £1mln to maintain its holding in the UK fuel cell developer at 10%
FTSE 100 closes in the red as trade tariffs kick in
The UK blue-chip index lost almost 32 points at 7,458
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Ceres Power Holdings unveils collaboration deal with Bosch
Bosch's name has been added to an impressive list of partnerships, which includes tie-ups with firms such as Weichai Power, Nissan, Honda and Cummins
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Bluejay Mining drops back, Genel boosted by ‘significant cash flow’
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FTSE 100 closes strongly as commodities rally, bolstered by Wall Street gains
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Mineral & Financial gains as investee company sells stake in Portugal project
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Ceres Power to receive £7mln in funding for new electric vehicle project with Nissan
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FTSE 100 joins European stocks to close lower as trade worries weigh
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FTSE 100 finishes higher as investors come back to risk; big miners gain
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McKay Securities shares rise as it hikes final dividend after ‘exceptionally productive year’
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Ceres Power sees strong demand for £20mln share issue
The company intends to complete the joint venture and licensing agreement with Weichai Power later this year, which will allow it to work towards a manufacturing joint venture in China