Ceres Power Share Discussion Threads

[andrbea] 13/6/2014 15:02

the mkt caps of US peers are much higher (see first figure). The year-on-year growth in share price in the US is much higher too. Plug Power is up 1663% !!!



And Ceres is focused on the fastest growth market (Asia).... and has the smallest mkt cap of the UK peers...

[andrbea] 12/6/2014 11:46

ceres in the list of firms at the bottom

hxxp://www.busbyway.com/2014/06/09/growing-focus-on-clean-technologies-drives-demand-for-fuel-cells-according-to-new-report-by-global-industry-analysts-inc/

[andrbea] 06/6/2014 10:34

tks, a good read that:

Ceres' fuel cells are cheaper because they do not use lots of expensive platinum as a catalyst, like in PEM cells, or ceramics like solid oxide fuel cells. They are 95% steel. There were problems with robustness associated with cycling, repeatedly switching the fuel cell on and off, admits Caldwell, but these have been solved with a new anode. The company is also using screen printing manufacturing techniques pioneered in the solar photovoltaic industry to increase manufacturing rates. Having addressed these and other similar challenges is what puts the company ahead of the game, he says, and means OEMs are coming to them to licence the technology.

Ceres' second priority is the US market, where Caldwell says business has a growing need for reliable power supply – research indicates grid outages are estimated to cost the US $80bn a year. For example, internet businesses like Google, Microsoft and Ebay want reliable power for their datacentres. Fuel cells are a good fit for use in datacentres because their high power demand is met inefficiently by centralised electricity networks. Distributed, on-site generation from sources like fuel cells make sense.

Ceres is making a play for the US industrial market via a recently announced partnership with US engine –maker Cummins. Alongside the partnerships in Japan, it looks as if the company is finally set to reap the benefit of years of engineering development. "Fuel cells are an everyday thing in Asia now – there are adverts for them on Japanese TV – it just hasn't hit in the UK and Europe yet," says Caldwell.

[smokey 1o3] 05/6/2014 16:54

Interesting link

hxxp://t.co/WJ2h6SVUN6

[jammytass] 22/5/2014 15:42

starting to grow 10p plus year end

[transforma] 03/5/2014 22:58

ITM Power: $2.1m Second Refuelling Station in the US
www.itm-power.com/news-item/second-us-hydrogen-refuelling-station/

ITM Power: £0.6m Renewable Urea with Waitrose
www.itm-power.com/news-item/0-6m-funding-to-design-and-build-a-pilot-unit-for-fertiliser-production-from-renewable-energy/

ITM Power: £2.8m Contract for 3 Refuelling Stations in London:
/www.itm-power.com/news-item/2-8m-contract-to-supply-three-refuelling-stations-in-london-2/

All in one month!

[fredd] 12/3/2014 09:41

Extracted from the above link

Chief Executive's statement

Since becoming Chief Executive at Ceres Power I have led with a strong focus on customers as this drives the business to deliver not just commercially but also technically, which in turn provides us with the greatest validation of the potential for our technology. Over the past six months we have welcomed leading companies from the power sector around the world to our facility at Horsham and they have all left with a very positive view of our capabilities. The subsequent level of commercial interest has exceeded our expectations and the focus for the rest of 2014 will be to convert our relationships to the next level while developing further partner relationships by geography and by application and continuing to achieve our internal targets against our technology roadmap.

Commercial Progress

The most exciting part of the past six months has been seeing our technology successfully tested on customer sites in Korea and Japan. This confirms the confidence that we have in the performance of the Steel Cell technology with third party validation by some of the most experienced engineering companies in the world and we expect further evaluations in the USA and the Far East later this year.

We have met key milestones in our partnership with KD Navien, the largest boiler company in South Korea with annual sales of over 1 million units and an export market which is growing rapidly at over 40% /year in its new target markets such as the USA.

In January we shipped our first fuel cell power system to KD Navien which has undergone successful initial testing in Seoul to date. The next phase of the programme would be to jointly develop a product for the Korean and international markets based on the Steel Cell technology.

In Japan we have several global OEMs testing the Steel Cell technology as a follow on to successful testing conducted in the UK over the past six months. These customers are exploring different market applications for the technology, including residential at 1 kW level and light industrial at 5 kW. As a result of this positive level of engagement in the Japanese and Asian markets we are opening a commercial office in Kyoto, Japan, next month.

Advancements in the efficiency of the technology have opened up the opportunity for us to begin to explore other applications, with a particular focus on the North American market. As announced recently we have signed a joint development agreement with Cummins Power Generation, a global provider of power generation systems, including those for the data centre and back up-power markets. It is a subsidiary of Cummins Inc., a global power leader with over US$17bn of revenues in 2012. The purpose of the collaboration is to explore the joint development and commercialisation of the Steel Cell technology for products in Cummins' existing markets.

Technology progress

Recent outputs from core cell technology development have resulted in the highest gross efficiency achieved by the a Ceres system of 54%, which means that we are confident we could meet a target specification of 45% net electrical efficiency with overall net efficiency of 90% when running as a combined heat and power system ("CHP") for the residential market. These improvements in efficiency further improve potential savings for domestic micro-CHP customers.

With the appropriate level of system engineering we believe that we could increase net efficiency even further to more than 50% which is the main requirement for prime power applications, where the emphasis is on the electrical power output rather than heat. I believe that the Ceres Steel Cell technology could have a compelling business case for larger power consumers.

In November 2013 we received an award of GBP1.0 million from DECC's Energy Entrepreneurs Fund to accelerate the development of our Fuel Cell Module, which is key to enabling some of our customers to develop complete products around our core technology.

Manufacturing and operations

Our manufacturing operations continue to deliver quality cells at high yields to support our internal and customer programmes As such we have continued to recruit a small number of high-quality people into the team to meet specific objectives. The Company is also currently investing to increase its test capability in order to enable parallel customer engagement and meet its internal road map deliverables.

Financial

Underlying revenue has increased to GBP0.2m (2012: GBPnil) due to the commercial progress made since the change of strategy in 2012 and relates to our new customers in Korea and Japan. In addition deferred revenue has been released from the balance sheet due to the ending of the product and supply agreements gained under the old strategy (2013: GBP0.7m Bord Gais Eirann; 2012: GBP0.5m Calor Gas). This has led to overall revenue in the period increasing to GBP0.9m (2012: GBP0.5m).

Since the change of strategy the Company has won GBP1.1m of UK Government grant funding to support key programmes. GBP0.2m of these grants has been recognised as other income in the period (2012: GBP0.0m). The Company will continue to apply for UK and other Government grant funding to assist the delivery of the Company roadmap where possible.

The Group's operating loss reduced by GBP4.7m from GBP8.5m in 2012 to GBP3.8m in 2013. This is driven by the reduction of GBP1.0m in recurring operating costs to GBP4.9m in the period from GBP5.9m in the corresponding period in 2012. This is primarily due to the reduced average number of employees and the focus on core technology delivery as a result of the change of strategy, as well as the Group not incurring non-recurring costs in 2013 (2012: GBP3.1m). Ceres ends the calendar year 2013 with GBP12.6m in cash and short-term investments, having started the period with GBP15.4m. The net cash used in operating activities of GBP2.7m in the period (2012: 5.5m) is primarily due to GBP3.7m cash used in operations (2012: GBP5.5m) offset by GBP1.0m cash received relating to income tax credit (2012: nil).

Summary

Over the past six months we have continued to demonstrate that we can deliver technology to the high standards set by some of the world leading companies, supported by our engineers at their sites in Korea and Japan. We have continued to exceed our own technical milestones, which puts us in a good position for developing these relationships to the next stage.

I would like to thank the team, right across the company, for continually delivering to meet our deadlines. One example of the commitment of the team was well illustrated by people coming in at the eleventh hour on Christmas Eve, when our facility at Horsham was facing blackouts, to ensure our testing and customer programmes were not compromised.

The third party validation from our OEM partners and the recent agreement with Cummins Power Generation reinforces our belief that our Steel Cell technology has the potential to become the standard next generation fuel cell technology for stationary power applications and we are in a very strong position for the future.

Philip Caldwell

Chief Executive Officer

[fredd] 11/3/2014 07:41

TIDMCWR

RNS Number : 9656B

Ceres Power Holdings plc

11 March 2014

11 March 2014

Ceres Power Holdings plc

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

Ceres signs Joint Development Agreement with Cummins Power Generation Inc.

Ceres Power Holdings plc, a world leading developer of low cost, next generation fuel cell technology, is pleased to announce that it has signed a joint development agreement with Cummins Power Generation Inc. ("Cummins"), a wholly owned subsidiary of Cummins Inc.

Cummins Power Generation Inc. is a global provider of power generation systems, which range from small generators for residential use to larger power systems for markets such as critical protection and back-up power. Cummins Inc. is a global power leader with over US$17bn of revenues.

In the first stage of this agreement, Cummins and Ceres will work together on a non-exclusive basis, combining their complementary technical capabilities and market know-how with Ceres assuming responsibility for the Steel Cell fuel cell system technology and Cummins providing system integration expertise, focusing on the assessment of applications for Cummins' core markets of larger scale back-up power and prime power applications.

Further stages of the agreement could include Cummins and Ceres working together on system feasibility and the evaluation of potential development programmes with major end users and utilities, who are already expressing interest in using power systems incorporating Ceres' Steel Cell technology. Successful completion of this collaboration assessment agreement phase could lead to a broader cooperative system development program under a continuation agreement.

Phil Caldwell, CEO of Ceres Power, commented:

"We are very pleased to start working with a partner of the calibre of Cummins. Establishing a strategic relationship with Cummins enables us to explore further applications for our unique Steel Cell technology, particularly for the rapidly growing market for fuel cell generation for commercial applications in North America."

Robert Lee, Executive Director, Power Generation Strategy for Cummins Power Generation, commented:

"As a global leader in power generation, Cummins Power Generation is pleased to undertake this joint investigation with Ceres into Solid Oxide Fuel Cell technology as a potential new vehicle to provide our customers with the clean and efficient power they've come to expect from Cummins."

[fredd] 12/2/2014 07:38

TIDMCWR

RNS Number : 8440Z

Ceres Power Holdings plc

12 February 2014

12 February 2014

Ceres Power Holdings plc (AIM: CWR.L)

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

Ceres Announces Commercial Progress and Expansion in Japan

The directors of Ceres Power, a world leading developer of low cost, next generation fuel cell technology, are pleased to announce a further Evaluation Agreement with a global Japanese Original Equipment Manufacturer (OEM) and the opening of a Company office in Japan.

Following successful customer technology trials of its unique Steel Cell technology in the UK, Ceres has signed an Evaluation Agreement to cover further testing at 1kW level at the OEM partner's site in Japan. In addition, trialling of the Steel Cell technology is already underway in Japan with another Japanese OEM. In April, Ceres will be opening an office in the Kansai area in order to service this commercial activity and support further strategic opportunities in Asia. This follows the traction that has already been achieved following the recent appointment of a Japanese business development director.

Phil Caldwell, Chief Executive of Ceres Power, commented:

"I am delighted that our strategy to target Japan is proving successful, and that we are moving forward to the next stage of technology evaluation in Japan. This shows the high level of confidence in our technology and provides further validation from some of the world's leading companies, who are recognising the low cost potential and robustness of the Ceres Steel Cell. Japan is a key market for Ceres as it is recognised as the leader in commercialisation of fuel cell technology with an estimated 50,000 residential micro-CHP units sold domestically there in 2013. I am excited that we will soon have a presence in Japan and look forward to developing these relationships further. "

[jammytass] 28/11/2013 08:44

"Significant technical progress" at Okinawa conference



Ceres Power presented significant technical progress of its fuel cell technology at the recent Okinawa Fuel Cell Conference in Japan. Two technical papers were published which explain the performance advances demonstrated by the low cost Ceres' Steel Cell over the past year, particularly in relation to robustness, efficiency and durability.



These papers support the internal test results Ceres has achieved, which include:

· Increase of efficiency to > 50% Gross Electrical Efficiency (LHV) at Fuel Cell Module, with ongoing work to increase this further;

· Accelerated testing of the Steel Cell technology which shows robustness to thermal cycle and repeated emergency stops (Redox) equivalent to twice the expected required design lifetime.



These findings corroborate the significant advantages of the Ceres' Steel Cell fuel cell technology over traditional solid oxide fuel cell designs. These unique characteristics of Ceres' Steel Cell fuel cells enable their widespread commercial adoption in a broader range of applications, from residential systems to higher power applications. The papers are available on Ceres Power's website: www.cerespower.com.

[beeezzz] 25/11/2013 23:22

IC has it in a list of tech companies to be a 10 bagger, not that I take much notice of share mags.

Sticking with AFC myself, and that's not say much, no credibility in the FC sector.

[smokey 1o3] 19/11/2013 15:42

Hey, this is from 2010. Nothing new!!
There home unit is the size of a washing machine.
No I think I will stay with Ceres for now but thank you anyway.

[r0n] 19/11/2013 15:13

An email communication i had with Ceres today .

Thank you for your enquiry and interest in Ceres Power.
Bloom Energy is indeed in commercial production with a focus on large power units (>250kW) for data centres and prime power. Almost all of their sales are in the US market.
Ceres welcomes advances by all players in the fuel cell domain because they are likely to catalyse the uptake of the technology genre, thereby growing the wider market. Given the huge potential of the market (studies suggest in excess of $20bn pa in the next 10 years), there is an opportunity for all providers of robust and economically viable fuel cell technology to thrive. Moreover, Bloom Energy does not offer a product in the smaller size (

[r0n] 19/11/2013 12:23

Just been watching youtube re "Bloom energy press conference" where they have invented a fuel cell that runs off gas with the long term goal of each house generating its own off grid electricity .

watch the Youtube presentations as the Technology is already in use Powering EBAY ,WALMART ,FEDEX to name some .Bloom are now building a facility for export . Cyan , ceres etc will all be affected. There will be many knock-ons . Here's a link www.youtube.com/watch?v=tbjkGdI68l0
so dyor.

[ceohunter] 04/10/2013 13:10

video interview

Ceres Power on a path to commercialisation

Philip Caldwell, chief executive of Ceres Power (LON:CWR), tells Proactive Investors how the company will generate value with its unique fuel cell technology. The recent deal, agreed with the South Korean based boiler maker KD Navian, not only validates the Ceres technology, it is the gateway to commercialisation, Caldwell says.

[cerrito] 01/10/2013 22:10

Agree sharpshare in the interview-thanks sammy_smith for link-a lot of talk but it would have been so easy to give just a couple of figures.

[sammy_smith] 01/10/2013 14:27

LISTEN: Ceres Power Holdings (CWR) - Preliminary results

click the link below to listen

[cerrito] 01/10/2013 09:39

Will go through more closely later but given that cash/short term deposits were £15.4 at period end was pleased to read this
quote
Current equity-free cash burn is forecast to remain steady and be around £9m in the financial year ending 30 June 2014.
unquote

[sharpshare] 01/10/2013 07:55

What is the degradation rate?

[sueyou1] 26/8/2013 10:59

The end before the beginning?

This could turn out to be a showstopper for CWR IF Redox can produce systems at US$1000 per Kw and they decide to go for the same near term fuel cell markets as CWR. Why wouldn't they if they have the 'game changer' they purport to have? I am sure there would be companies queuing up to become agents all around the World.

CWR won't have any mCHP products in the market until 2016 at the earliest, Redox say they will have their systems in the market in 2014. They will be doing 5kW home systems and up to 80kW commercial systems.

The Redox can compete directly on price with gas/oil boilers, bypassing all the competition from the more expensive Stirling engine and fuel cell mCHP offerings.

Redox might turn out to be a load of hype (looks like they have the same 'hype manager' as Bloom!), only time will tell, but not much time if they are going to launch their product in 2014.

Link below to an interesting article, it shows how much hype is being invested in Redox before it even has a product to sell, as the box with green lights is a model, not an actual fuel cell.

"Warren Citrin, the company's CEO, says the fuel-cell systems will cost about $1,000 per kilowatt, compared with $8,000 per kilowatt for Bloom. However, the company's claim of a two-year payback is a rough estimate; it doesn't include the cost of financing, for example, and it factors in expected economies of scale from producing about 400 fuel-cell systems per year, although the company has yet to manufacture even one complete system so far."

www.technologyreview.com/news/518516/an-inexpensive-fuel-cell-generator/

[royfox] 21/8/2013 09:18

In my experience Smokey some of the best shares have very little BB traffic - BKG being a prime example.

[smokey 1o3] 21/8/2013 08:53

raysor
Thank you I will do that.
Good to hear about BG.
A pity its only you and I still on here as this technology has serious potential and deserves to have a good outcome.