Natural Gas Combined Heat and Power
The Company's first product is an integrated wall-mounted residential fuel cell combined heat and power (CHP) product. The compact product is designed to replace a conventional boiler, using the same natural gas, water and electrical connections and with similar installation and maintenance requirements.
There is an addressable market of around 14.5 million households in the UK for a natural gas fed CHP product*. Fuel cells are predicted to be the dominant residential mass market CHP solution within the microgeneration sector due to their high energy efficiency and output matched to a home's requirements. Using the existing gas infrastructure they can deliver a significant reduction in carbon emissions and household energy bills.
In western Europe over 78% of all residential boilers sold are wall-mounted, representing a substantial opportunity for Ceres Power's compact CHP design. Similar opportunities exist in Asia and North America to reduce the carbon footprint and energy costs of the built environment.
*Source: British Gas