New Appointment

RNS Number : 2599X

Ceres Power Holdings plc

13 February 2012

 



13 February 2012

Ceres Power Holdings plc

("Ceres", "Ceres Power", or "the Company")

Fuel Cell Technology Team Strengthened by New Appointment

Ceres Power is pleased to announce that Dr. Subhasish Mukerjee today joins the Company, reporting into Dr. Phil Whalen, Technology Director.  Dr. Mukerjee, a globally recognized solid oxide fuel cell ('SOFC') expert, will manage Ceres' on-going core fuel cell and stack development programme.

Dr. Mukerjee brings extensive experience in the development of fuel cell technology in manufacturing environments where low cost, high volume and durability are key requirements.  He previously held the role of SOFC Technology Leader at Delphi Corporation, the leading global supplier for the automotive, computing, communications, energy and consumer markets.  At Delphi, he led the technology development of cost effective SOFC solutions for mass market applications.  He also held a key lead role in government funded development programmes.

Dr. Mukerjee holds numerous SOFC patents (21 granted and multiple pending), and has published widely (17 key publications) on fuel cell technology.  He gained his PhD at Yale University before undertaking further studies at Harvard, and then went on to a career at BP before joining Delphi.

David Pummell, Chief Executive Officer, commented:

"I am extremely pleased to welcome Dr. Mukerjee to Ceres Power, who brings relevant capability and experience into the company.  He will immediately take forward our fuel cell and stack programme that will support the company to meet the technical requirements for our mass market launch.   We continue to build a world-class team at Ceres, and Dr. Mukerjee further strengthens the talent base of key individuals that will drive the successful delivery of our commercialisation plan."

Dr. Subhasish Mukerjee, Assistant Director Cell and Cell Stack Development, commented:

"I studied the technology before my appointment and I believe the Ceres fuel cell technology has significant and unique advantages, which best position Ceres to deliver mass market commercialisation.  I am therefore both delighted and excited to have joined Ceres Power at such an important time and I look forward to applying my experience to help support and drive forward the product programme to meet Ceres' business goals."

For further information contact:

Ceres Power Holdings plc	Tel. [phone]
David Pummell, Chief Executive Officer
Rex Vevers, Finance Director
Investec Securities Limited	Tel. [phone]
Chris Sim/James Ireland
Kreab Gavin Anderson & Company	Tel. [phone]
Ken Cronin/Deborah Walter

Notes to editors:

Ceres Power is a leading developer of clean, efficient, cost-effective decentralised energy products that reduce operating costs, lower CO2 emissions and improve energy security. These products use the Company's mass manufacture technology platform, the Fuel Cell Module, based on the Company's unique patented solid oxide fuel cell ('SOFC') technology and operating on mains natural gas or packaged fuels, such as LPG.

The Ceres Power fuel cell Combined Heat and Power ('CHP') product operates on mains natural gas and generates all of the heating and hot water and the majority of the electricity needs of a typical UK home. The wall-mounted unit is designed to replace a conventional central heating boiler and uses the same gas, water and electricity connections. With its low heat-to-power ratio and unique load-following ability, a Ceres Power CHP product can operate all year round thereby maximizing the energy savings for the household and cutting carbon emissions.

Significant market opportunities exist for the Group's residential CHP products globally including Europe, Asia and North America. New products and market opportunities also exist in the longer term including remote industrial power and auxiliary power for transport applications.

www.cerespower.com

 

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