Ceres signs boiler assembly agreement with Daalderop BV
Ceres Power announces that it has entered into a long-term supply agreement with Daalderop BV
(‘Daalderop’) for the volume boiler assembly of the Company’s residential Combined Heat and
Power (‘CHP’) programme with British Gas. Ceres will mass manufacture in-house, at its
facility in Horsham, fuel cells and assemble fuel cell stacks and fuel cell modules in volume. The
boiler assembly will be manufactured in volume by Daalderop, in accordance with Ceres
Power’s complete CHP product design.
Daalderop is a leading manufacturer of innovative, high-efficiency domestic heating appliances
including condensing boilers, heat pumps and water heaters. The company operates from its new
production facilities located at Tiel, in the Netherlands and has an overall production capacity of
200,000 units per annum across its product range. The company has extensive in-house product
engineering capabilities and is the market leader in water heaters in the Benelux region.
Daalderop has recently won awards in the Netherlands and the UK for its innovative hybrid
domestic heating appliances.
The agreement with Daalderop provides Ceres Power with access to a cost-effective volume
condensing boiler capability thereby avoiding the additional capital costs and risks of building an
in-house volume assembly capability. Daalderop brings innovative gas appliance engineering
expertise and a well-established volume global supply chain for standard boiler components.
Daalderop’s strong brand in the Benelux region, established market channels and experience of
bringing new products to market could further de-risk Ceres’ entry into the growing European
market.
Having completed the fit-out of its fuel cell mass manufacturing facility in Horsham in July
2009, Ceres Power has now installed all of the key manufacturing machinery for the initial
manufacturing line and is on track to begin initial low volume manufacturing operations in Q4
2009. The boiler assembly agreement with Daalderop together with other key supply chain
relationships now in place for balance of plant components allows Ceres to prepare for
production of Beta units for deployment in up-coming sheltered and commercial in-home field
trials.
Peter Bance, Chief Executive Officer of Ceres Power, commented:
“We are pleased to have secured this long-term relationship with Daalderop and look forward to
working with them to launch the Ceres Power CHP product in the UK market in partnership with
British Gas. Daalderop’s gas appliance expertise and volume assembly capabilities will enable
the manufacturability refinements identified in the Alpha phase to be incorporated in Beta.”
Bart Romeijin, Chief Executive Officer of Daalderop BV, commented:
“We are delighted to be working with Ceres Power on the launch of their fuel cell CHP product
in the UK market with British Gas. We believe that Ceres Power’s unique fuel cell technology is
a real breakthrough and their CHP product has the potential to deliver significant energy savings
and sustainable CO2 emissions reductions to millions of households throughout the UK and
Europe.“
Gearoid Lane, Managing Director of British Gas New Energy, commented:
“Ceres Power’s investment in its in-house fuel cell mass manufacturing facility together with this
agreement with Daalderop provides the platform for Ceres to launch its CHP product in volume
in the UK.”
