Ceres Power Holdings PLC
F:CFJ
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Ceres Power Holdings PLC
Ceres Power Holding plc engages in development and commercialization of fuel cell technology. The company is headquartered in Horsham, West Sussex and currently employs 414 full-time employees. The company went IPO on 2004-11-24. The firm is engaged in the development and commercialization of its fuel cell technology. The firm focuses to provide clean energy to businesses, homes and vehicles. The company is a developer of solid oxide electrochemical technology for applications in fuel cells and hydrogen. Its SteelCell technology can generate power from conventional fuels like natural gas and from sustainable fuels like biogas, ethanol or hydrogen. Its SteelCell technology is applicable to markets like combined heat and power (CHP) for commercial and residential buildings. The company also focuses to embed its technology in mass-market energy products for the commercial, residential and transportation markets. Its subsidiaries include Ceres Power Ltd, Ceres Intellectual Property Company Ltd, Ceres Power Intermediate Holdings Ltd and Ceres Power Licence Company Ltd.
Ceres Power Holding plc engages in development and commercialization of fuel cell technology. The company is headquartered in Horsham, West Sussex and currently employs 414 full-time employees. The company went IPO on 2004-11-24. The firm is engaged in the development and commercialization of its fuel cell technology. The firm focuses to provide clean energy to businesses, homes and vehicles. The company is a developer of solid oxide electrochemical technology for applications in fuel cells and hydrogen. Its SteelCell technology can generate power from conventional fuels like natural gas and from sustainable fuels like biogas, ethanol or hydrogen. Its SteelCell technology is applicable to markets like combined heat and power (CHP) for commercial and residential buildings. The company also focuses to embed its technology in mass-market energy products for the commercial, residential and transportation markets. Its subsidiaries include Ceres Power Ltd, Ceres Intellectual Property Company Ltd, Ceres Power Intermediate Holdings Ltd and Ceres Power Licence Company Ltd.
Milestone Achievement: Ceres Power reached a major milestone with the start of mass production at its partner Doosan's factory in South Korea, marking the company's shift from R&D to commercialization.
Financials: Revenue for the first half of 2025 reached just over GBP 20 million, with strong gross margins and over GBP 100 million in cash preserved, leading to positive cash flow in the period.
Guidance Update: Full-year 2025 revenue is now expected to be at least GBP 32 million, with any new license agreements representing upside.
Cost Base Reduction: The company completed a restructuring, achieving a 17% cost reduction, and is launching a transformation program targeting a further 20% operating expense reduction.
Market Focus: Near-term commercial focus is on power markets, specifically for data centers and grid reinforcement, with solid oxide fuel cells seen as a key solution for urgent power needs.
Hydrogen Progress: Continued advancements in electrolysis, including high-efficiency milestones with Shell and new partnerships in Japan and India, though the hydrogen market is seen as a longer-term opportunity.
Licensing & Royalties: The business model relies on licensing and royalty streams, with royalties from Doosan sales expected to begin flowing and grow as more sales occur.
Geographical Expansion: Partnerships are scaling in Asia (Taiwan, China, India, Japan) with eyes on the U.S. power market, especially as policy support grows.