Award of DECC Award

RNS Number : 4615T

Ceres Power Holdings plc

20 November 2013

 



20 November 2013

Ceres Power Holdings plc

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

Ceres Power awarded £1 million DECC award

Ceres Power today announces that it has successfully secured £1 million of grant funding under the Department of Energy & Climate Change (DECC) Energy Entrepreneurs Fund (EEF) for further development of the Ceres Technology Platform. The DECC EEF is intended to support strategic innovation and make the UK a world leader in new low carbon technologies and develop associated businesses on a global scale.

This award helps Ceres accelerate the development of highly efficient power generation technology for the home or business, providing a lower carbon alternative to grid power.

The combination of high efficiency, low cost and the mass manufacturable Steel Cell creates opportunities for a wide range of low carbon applications in global markets. Ceres Power's unique Steel Cell technology has demonstrated robustness and performance at an inherently lower cost to alternatives in the market and continues to drive significant commercial progress with global product manufacturing partners, particularly in Japan and South Korea.

Phil Caldwell, Chief Executive of Ceres Power, said:  "I am delighted with this significant endorsement of our technology and business strategy.  Delivering high efficiency at low cost has been our key differentiator in attracting commercial partners to consider Ceres for their next generation of low carbon power products.  It is also the foundation upon which we are building a strong, UK-based technology business with a global reach."

Enquiries:

Ceres Power Holdings plc Phil Caldwell, CEO Richard Preston, Finance Director	Tel. [phone]
N+1 Singer  (Nominated Adviser and Broker) Andrew Craig / Ben Wright	Tel: [phone]
Tavistock Communications Mike Bartlett/James Collins	Tel: [phone]

Notes to editors:

About Ceres Power

Ceres Power is a leading developer of clean, efficient, cost-effective fuel cell technology for use in decentralised energy products that reduce operating costs, lower CO2 emissions and improve energy security. These products use the Company's mass manufacturable technology platform, which is based on the Company's unique patented Steel Cell fuel cell technology and operating on mains natural gas or in the future a range of other fuels. The Company is listed on the AIM market of the London Stock Exchange, and has facilities in Horsham and Crawley, UK, including a pilot-scale fuel cell manufacturing facility.

www.cerespower.com

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