Ceres Power Holdings: Technology Underpins Market Expansion
Edison | Nov 02, 2016 09:10AM ET
Ceres Power Holdings (LON:CWR) has announced that Version 4 of its proprietary Steel Cell technology has been successfully released to customers. The significant increase in power density and reduction in the time taken to start-up has extended the potential application from just the residential sector to electric vehicle power trains and distributed power for datacentres and commercial properties. It underpins engagement with blue-chips British Gas, Cummins (NYSE:CMI), Honda Motor Company Ltd (NYSE:HMC) and Nissan Motor Co., Ltd. (T:7201) and our estimates, which we leave unchanged except to reflect the dilutive impact of the September placing.
Ceres has beaten its own targets to achieve 50% electrical efficiency for a combined heat and power (CHP) system and 56% efficiency in initial tests of a multi-kW system. This improvement in efficiency has enabled Ceres to extend its addressable market from residential CHP to power-only applications and deployment in data-centres and commercial properties. The technology exhibits increased lifetime, having been cycled through thousands of warm-ups and cool-downs. The reduced start-up time and longer lifetime has enabled Ceres to extend its addressable market to vehicle range extenders and gensets.
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Ceres Power Holdings - Technology Underpins Market Expansion
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