{"id":393957,"date":"2020-12-07T03:30:35","date_gmt":"2020-12-07T08:30:35","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=393957"},"modified":"2020-12-07T03:30:35","modified_gmt":"2020-12-07T08:30:35","slug":"ceres-power-holdings-plc-bosch-collaboration-with-ceres-progresses-to-mass-production-of-sofc-systems-with-an-initial-200mw-capacity-in-2024","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ceres-power-holdings-plc-bosch-collaboration-with-ceres-progresses-to-mass-production-of-sofc-systems-with-an-initial-200mw-capacity-in-2024\/","title":{"rendered":"Ceres Power Holdings plc: Bosch Collaboration With Ceres Progresses To Mass Production Of SOFC Systems, With An Initial 200mw Capacity In 2024"},"content":{"rendered":"
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– Bosch extends its successful collaboration with Ceres to move from prototyping to preparing for mass production of SOFC systems based on Ceres’ proprietary fuel cell technology<\/h2>\n

– Multiple sites in Germany are aiming to produce an initial aggregate 200MW capacity in 2024<\/h2>\n

– SOFC systems to be used in the stationary power market, initially for decentralised power plants in cities, factories, data centres and electric vehicle charging infrastructure<\/h2>\n

– Value to Ceres from 2021 to 2023 is around \u00a323m, of which c.\u00a36m is conditional on meeting KPIs based on performance<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n HORSHAM, England<\/span> and STUTTGART, Germany<\/span>, Dec. 7, 2020<\/span> \/PRNewswire\/ — Ceres Power Holdings plc\u00a0(“Ceres”, the “Company”) (AIM: CWR.L), a leader in solid oxide fuel cell (SOFC) technology and\u00a0Bosch Group, a global leader in Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology, today publish a joint press release on the next phase of their strategic collaboration, shown at the end of this statement.\u00a0 <\/p>\n

This announcement marks a major milestone in the close relationship between Ceres and Bosch and follows a successful prototype phase. Bosch is now preparing to start volume production of fuel cell systems incorporating Ceres’ proprietary SteelCell\u00ae SOFC technology in 2024, aiming to achieve an initial annual production of around 200MW from manufacturing facilities in Bamberg, Wernau and Homburg and engineering locations in Stuttgart-Feuerbach and Renningen. The value to Ceres from 2021 to 2023 is around \u00a323m, of which c.\u00a36m is conditional on meeting certain KPIs based on performance.<\/p>\n

Bosch, which owns 17.6% of the equity of the Company, and Ceres have been successfully working closely together since 2018 on the development and manufacturing of prototype fuel cell stacks. This announcement now marks the move towards mass production capability, enabled by Bosch’s industrial expertise, and is an important step in helping to deliver Germany’s<\/span> green future. Acknowledging the role of fuel cells on the path to becoming carbon-neutral by 2050,\u00a0Germany<\/span><\/a>\u00a0has recently announced \u20ac9 billion of government support for hydrogen and other clean energy technologies to help make the transition to de-carbonise society. <\/p>\n

Ceres anticipates that initial production will satisfy demand for Bosch fuel cell systems, but in time could expand to meet the growing global demand for SteelCell\u00ae based stacks in multiple third party systems.\u00a0Bosch’s investment in Germany<\/span> and its global footprint alongside Ceres’ recently announced partnership with Doosan in South Korea<\/span> now shows significant scale for planned production capacity for the SteelCell\u00ae\u00a0technology worldwide. This announcement provides further validation of the Ceres licensing business model, as Bosch plans to scale from pilot production to mass manufacturing. \u00a0<\/p>\n

\n Phil Caldwell<\/span>, CEO of\u00a0Ceres Power\u00a0said:\u00a0<\/b>“We are delighted that our relationship with our trusted partner Bosch goes from strength to strength and are confident that the combination of our innovative technology and Bosch’s industrial engineering expertise will deliver significant value for both companies in providing products that contribute towards addressing the challenge of climate change<\/i>.”<\/p>\n

Dr. Christian Fischer<\/span>, the Bosch board of management member responsible for the Energy and Building Technology business sector, added: “We see the highly efficient solid oxide fuel cell as an essential element of a sustainable energy supply. To bring it about, we are pooling Bosch expertise from across several divisions. Together with our partner Ceres Power, we are now taking the next important step toward full-scale production<\/i>.”<\/p>\n

An analyst call will be held this morning at\u00a009.00AM BST\u00a0regarding the announcement. To register your interest, please contact Powerscourt at\u00a0ceres@powerscourt-group.com<\/a><\/u><\/p>\n

\n Press release<\/b>\n <\/p>\n

\n Stationary fuel cell: Bosch plans to start full-scale production in 2024
<\/b>Stronger alliance with Ceres Power <\/p>\n