reports
- Mahaut Arnaud
- Paul de Froment
- Thomas Mordelle
Ceres Power: solid H1 results, forward cost optimisation
Ceres Power reported its H1 2024 figures on Friday, highlighting strong revenue growth to GBP28.5m (>2.4x YoY, in line with FY24 cons. expectations for GBP56m). Backed by a favourable revenue mix, gross margin improved to >80% (vs 62% in H1 2023), allowing for significant operating leverage,
Thermax s’associe à Ceres pour la production d’hydrogène vert par élec...
PUNE, Inde--(BUSINESS WIRE)-- Thermax, l’un des principaux fournisseurs de solutions énergétiques et environnementales et partenaire de confiance dans la transition énergétique, a annoncé une collaboration stratégique avec Ceres Power Holdings plc (CWR.L), l’un des principaux développeurs de technologies d’énergie propre. Les deux sociétés ont conclu un accord de licence mondial non exclusif pour que Thermax fabrique, vende et entretienne des modules de réseau de piles (SAM) basés sur la technologie avancée d’électrolyse à oxyde solide (SOEC) de Ceres. Thermax développera, commercialisera et v...
Thermax Partners with Ceres for Green Hydrogen Production with Large-S...
PUNE, India--(BUSINESS WIRE)-- Thermax, a leading energy and environment solutions provider and a trusted partner in energy transition, has announced a strategic collaboration with Ceres Power Holdings plc (CWR.L), a leading developer of clean energy technology. The two companies have entered a non-exclusive, global license agreement for Thermax to manufacture, sell and service stack array modules (SAM) based on Ceres' advanced solid oxide electrolysis (SOEC) technology. Thermax will also develop, commercialise and sell SAM balance of modules (SBM) and multi-megawatt SOEC electrolyser modules....
Ceres confirme Denso comme tout nouveau partenaire de licence
HORSHAM, Angleterre--(BUSINESS WIRE)-- Ceres Power Holdings plc (CWR.L), l’un des principaux développeurs de technologies d’énergie propre, et Denso Corporation (« Denso »), un fabricant mondial d’équipements d’origine, fournissent aujourd’hui de plus amples informations sur un accord de licence à long terme pour la fabrication de cellules d’électrolyseur à oxyde solide de Ceres pour des applications liées à l’hydrogène. Ces informations fournissent des détails supplémentaires par rapport à l’annonce du 22 juillet 2024, qui soulignait les termes de cet accord. Ce communiqué de presse contient...
Ceres confirms Denso as the latest licence partner
HORSHAM, England--(BUSINESS WIRE)-- Ceres Power Holdings plc (CWR.L), a leading developer of clean energy technology, and Denso Corporation (“Denso”), a global original equipment manufacturer, today provide further information on a long-term licence agreement for the manufacture of Ceres’ proprietary solid oxide electrolyser cells for hydrogen applications. This provides additional detail to the previous announcement made on 22 July 2024 highlighting the terms of this agreement. This press release features multimedia. View the full release here: DENSO Headquarters (Photo: Business Wire) Secu...
- Toby Thorrington
Ceres Power Holdings - Strategic partnerships powering growth
Ceres Power Holdings’ innovative technology uses electrolysis to produce green hydrogen and solid oxide fuel cells to generate power. In a year where it moved to the Main Market of the London Stock Exchange, it recorded revenue growth of 13% and gross margin expansion to 61% (the highest in the sector, according to management), but is yet to record an operating profit (FY23 operating loss of £59.4m versus £54.0m in FY22). Ceres continued its strategy to drive innovation and technology across sol...
- Paul de Froment
- Sebastián Marroquin Mérida
- Thomas Mordelle
Ceres Power: FY24 outlook confirmed
We take advantage of yesterday's FY23 results from Ceres Power to fine-tune our revenue and margin estimates, taking into account FY24 revenue guidance, overall momentum in FC and ambitions in EC. Based on existing frameworks with Doosan, Bosch and Delta, and removing expected revenue out of the Ch
Ceres Attends India Energy Week to Discuss Hydrogen’s Role in Industri...
GOA, India--(BUSINESS WIRE)-- Ceres Power ("Ceres", "the Company"), a global leader in clean energy technology, today joins India Energy Week 2024 along with 35,000 attendees to discuss collaboration across industry to deliver India’s energy transition goals. This press release features multimedia. View the full release here: L-R: Dipak Mistry, (Ceres Strategic Business Development Director), Phil Caldwell (Ceres CEO) and Saad Ashraf (Ceres Regional Business Head – India) (Photo: Business Wire) In line with that vision, Ceres can also update that its 1MW-scale electrolyser for green hydrogen ...
- Paul de Froment
- Thomas Mordelle
New licence agreement
Yesterday, Ceres Power announced it had signed a global long-term manufacturing collaboration and dual licence agreement comprising both FC and EC cells and stack production with Delta Electronics, a worldwide leader in electronics manufacturing. Total value for this agreement is GBP43m from 2024 t
Ceres signe sa première licence avec Delta pour l'utilisation d'hydrog...
HORSHAM, Angleterre--(BUSINESS WIRE)-- Ceres Power Holdings plc (CWR.L), l'un des principaux développeurs de technologies d'énergie propre, et Delta Electronics (« Delta »), l'un des principaux fournisseurs mondiaux de solutions de gestion de puissance thermique, ont publié aujourd'hui un communiqué de presse commun informant de leur collaboration, dont le texte intégral est disponible à la fin de la présente déclaration. Ce communiqué de presse contient des éléments multimédias. Voir le communiqué complet ici : Ceres CEO, Phil Caldwell, and Delta Head of Hydrogen Energy Business Division, Ch...
Ceres Signs First Hydrogen Licence With Delta
HORSHAM, England--(BUSINESS WIRE)-- Ceres Power Holdings plc (CWR.L), a leading developer of clean energy technology, and Delta Electronics (“Delta”), a global leader in power and thermal management solutions, today make a joint press release on their collaboration, which is shown in full at the end of this statement. This press release features multimedia. View the full release here: Ceres CEO, Phil Caldwell, and Delta Head of Hydrogen Energy Business Division, Charles Tsai (Photo: Business Wire) Ceres and Delta have signed a global long-term manufacturing collaboration and licence agreement...
- Paul de Froment
- Thomas Mordelle
Disapointing trading update
Yesterday evening, Ceres Power released a trading update indicating FY 2023 revenue should be in the GBP20-21m range (vs consensus at GBP33m). This announcement materialises risks mentioned in July and September, with YoY growth significantly dependent on the closing of new license agreements given
Le programme d’hydrogène vert de Ceres franchit une étape importante
HORSHAM, Angleterre--(BUSINESS WIRE)-- Ceres, un chef de file mondial du secteur des piles à combustible et de la technologie électrochimique, a le plaisir d’annoncer que son électrolyseur à oxyde solide, le premier en son genre, produit désormais de l’hydrogène sur le site de son partenaire AVL en Allemagne, et que les dernières étapes de sa mise en service approchent, en bonne voie pour atteindre la phase des essais de réception en usine au cours des semaines à venir. Ce communiqué de presse contient des éléments multimédias. Voir le communiqué complet ici : Ceres 1MW scale electrolyser dem...
Ceres’ green hydrogen programme hits key milestone
HORSHAM, England--(BUSINESS WIRE)-- Ceres, a global leader in fuel cell and electrochemical technology, is pleased to share that its first-of-a-kind solid oxide electrolyser is producing hydrogen at partner AVL’s site in Germany and is in the final stages of commissioning, on track to reach factory acceptance testing in the coming weeks. This press release features multimedia. View the full release here: Ceres 1MW scale electrolyser demonstrator (Photo: Business Wire) Ceres’ deep expertise in solid oxide technology has allowed it to prosecute an ambitious programme for hydrogen over the past ...
- Paul de Froment
- Thomas Mordelle
Licensing is challenging
Following the publication of our industry note entitled "H2’oween: Trick or treat in hydrogen", we have downgraded Ceres Power from Buy to Sell and cut our price target from GBp1,300 to GBp200. Ceres Power is challenged in its licensing pathway, now heading full steam into EC after years of bullish
- Paul de Froment
- Sebastián Marroquin Mérida
- Thomas Mordelle
H2’oween: Trick or treat in green hydrogen
Decarbonisation must ultimately abide by economic laws. In a maturing market with many competing technologies, those with the most efficient power-to-power ratios generating the highest energy returns on investment are the ones that should succeed. This contrasts with the earlier stages of green hy
- Paul de Froment
- Sebastián Marroquin Mérida
- Thomas Mordelle
- Liberum Research Team
- Liberum Research Team
- Liberum Research Team
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