Report

Update: New joint development agreement with Honda

Ceres has signed a joint development agreement (JDA) with Honda R&D Co to develop solid oxide fuel cell stacks using Ceres’s patented Steel Cell technology. This follows on from a JDA announced in October 2014. We leave our estimates unchanged, noting that the new agreement presents opportunities to deploy the technology in additional market segments.
Underlying
Ceres Power Holdings PLC

Ceres Power Holdings is a fuel cell technology and engineering company. Co. is working with partners to embed its SteelCell™ technology in mass-market energy products for the commercial, residential and transportation markets. SteelCell™ is Co.'s Solid Oxide Fuel Cell. SteelCell™ is a perforated sheet of steel with special screen-printed ceramic layers that electrochemically convert a variety of fuels directly into power. The principal activity of Co.'s subsidiary, Ceres Power Ltd is the commercialisation and continued development of Co.'s fuel cell technology.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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