| Ceres Power,
the AIM-quoted fuel cell group, announces that it has designed and built
an integrated, wall-mountable combined heat and power unit ('the
CHP Unit') which will form part of an up-coming demonstration at the Company's
headquarters. This technical achievement demonstrates the commercial
potential of the product and also represents an important milestone in
the Company's residential CHP programme with British Gas.
The compact and wall-mountable design
will enable access to residential mass markets in the UK and overseas.
The integrated CHP Unit is capable of generating electricity and
all of the central heating and hot water requirements of a typical
home, avoiding the need for a separate boiler, and so can address new build
and replacement markets. The CHP Unit uses the same natural
gas, water and electricity connections as a boiler, and is thus easy to
install.
Key balance of plant components within
the CHP programme have been developed in partnership with well-established
volume manufacturers from industries including automotive and white goods.
The operating temperature (500- 600degreesC) of the unique Ceres Power
fuel cell technology has enabled the use of widely available and cost-effective
raw materials, components and manufacturing equipment.
The Company is now focused on value
engineering of the CHP Unit and the scale-up of core manufacturing processes
to meet expected customer demand.
The Company will be inviting analysts
to its Crawley headquarters on Tuesday September 11th for a CHP demonstration,
management presentation and tour of the facilities. Following this
event, the Company will also showcase the CHP hardware at the London Stock
Exchange on Friday September 14th.
Peter Bance, Chief Executive of Ceres
Power, commented:
"Building on our established technology
leadership, we have now developed the product engineering capabilities
and supply chain relationships that have enabled us to demonstrate
an integrated wall-mountable CHP Unit. Achievement of this important
milestone is a significant step forward in the commercialisation of our
unique technology."
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