Ceres Power receiveS ?0.7million funding award

RNS Number : 3485O

Ceres Power Holdings plc

06 August 2014

 



6^th August 2014

Ceres Power Holdings plc

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

Ceres Power and DEK receive £0.7million funding award to Accelerate Manufacturing

Ceres Power, a world-leading developer of low cost, next generation fuel cell technology, and DEK*, the UK-based global provider of screen printing equipment and processes, are pleased to announce that they have been awarded £0.7million of funding from the UK's innovation agency: the Technology Strategy Board, as part of its Fuel Cell Manufacturing and the Supply Chain collaboration  initiative. 

The award co-funds a £1.1million collaboration project that will combine DEK's latest high speed photovoltaic manufacturing processes with Ceres existing manufacturing capability  to scale up its low cost Steel Cell production in response to growing market opportunities.

Until now the high cost of fuel cell technology has restricted widespread adoption.  The unique Ceres Steel Cell is one of the most cost effective and robust fuel cell technologies developed, using the existing gas infrastructure to generate power at the point of use.

Phil Caldwell, CEO of Ceres Power, comments:

"We are very pleased to be working with global industry leader DEK to scale up our manufacturing capabilities in response to the growing commercial demand for this technology. This award is further validation of our unique Steel Cell technology, which can be mass manufactured using conventional materials and established processes from the PV industry and provides the step change in cost that fuel cells need for widespread adoption."

Brian Lau, Director of DEK Solar, adds:

 "DEK Solar has been committed to the development of alternative energy solutions for decades, dating back to our first fuel cell endeavour in 2000 and extending today to our leadership position in solar cell metallization.  We are delighted to be in partnership with Ceres Power to help deliver a cost-competitive fuel cell process to enable clean energy alternatives.  Adapting DEK Solar's award-winning printing solutions to provide lower fuel cell costs through highly efficient manufacturing processes, we are confident that the Ceres Power solution will help proliferate the use of fuel cell technology around the world."

Notes to Editors

About Ceres Power

Ceres Power (http://www.cerespower.com/) is a world leading developer of low cost, next generation fuel cell technology for use in decentralised energy products that reduce operating costs, lower CO₂ emissions, increase efficiency and improve energy security.  The Ceres unique patented Steel Cell technology operates on mains natural gas and is manufactured using standard manufacturing processes and conventional materials such as steel, meaning that it can be mass produced at an affordable price for domestic and business use.

For more information, visit Ceres Power at www.cerespower.com

About DEK Solar (* as of July 2014, ASMPT closed the acquisition of the complete DEK business from its previous owner Dover Corporation. DEK is now known as ASM Assembly Solutions, though the DEK brand remains)
DEK Solar is a global provider of next-generation technologies and process support to solar cell manufacturers with solutions that include modular metallization platforms, precision screens and materials applications used in backside field coating, current-collector pattern and termination deposition for photovoltaic substrate production.

For more information, visit ASM Assembly Solutions at http://www.dek.com/products/alternative-energy

About The Technology Strategy Board

The Technology Strategy Board is the UK's innovation agency. Its goal is to accelerate economic growth by stimulating and supporting business-led innovation. Sponsored by the Department for Business, Innovation and Skills (BIS), the Technology Strategy Board brings together business, research and the public sector, supporting and accelerating the development of innovative products and services to meet market needs, tackle major societal challenges and help build the future economy. The Fuel Cell Manufacturing and the Supply Chain initiative aims to encourage innovative, business led projects that strengthen UK capability and develop the UK's supply chain in the field of fuel cell manufacturing.

For more information please visit www.innovateuk.org

About the Collaborative Research and Development Funding Award

As the UK's innovation agency, one of the main roles of the Technology Strategy Board is to achieve business and economic growth for the UK. One way the organisation supports this is through funding innovative Collaborative Research and Development (CR&D) projects. Collaborative research and development (R&D) encourages businesses and researchers to work together on innovative projects in strategically important areas of science, engineering and technology - from which successful new products, processes and services can emerge, contributing to business and economic growth. Find out more about the CR&D programme here: https://www.innovateuk.org/-/collaborative-r-d

Press Enquiries:

Ceres Power Holdings plc

Mike Bartlett/James Collins at Tavistock Communications - Tel: [phone]

[e-mail] / [e-mail]

Phil Caldwell, Chief Executive Officer, Ceres Power  - Tel: [phone]

Richard Preston, Finance Director - Tel: [phone]

DEK Solar

Jenny Runnacles at APCO Worldwide - Tel: [phone]
[e-mail]

 

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