23 February 2016
Ceres Power Holdings Plc
("Ceres Power", "Ceres" or "the Company")
CERES POWER SCALES UP PRODUCTION CAPABILITY WITH INNOVATE UK FUNDING
Ceres Power Holdings plc (AIM:CWR) is pleased to announce the completion of a manufacturing scale up project that enables high volume production capability, a key step towards mass market commercialisation of its unique fuel cell technology in response to growing market opportunities.
The new high-speed print line at Ceres' manufacturing facility in Horsham has reduced ceramic on steel print-cycle time from 30 seconds to just 3 seconds, representing a 10 fold increase in processing speed, demonstrating that Ceres' processes are consistent with low cost, high volume manufacturing and corroborating the Steel Cell as a disruptive low cost fuel cell technology.
This project has been successfully delivered by Ceres in partnership with ASM Alternative Energy (ASM AE), the global provider of screen printing equipment and part-funded by £0.7m from Innovate UK's Advanced Manufacturing Supply Chain Initiative. By using standard processes developed for the solar industry and conventional materials such as steel, this project has been key to demonstrate that the Steel Cell can be mass-produced at an affordable price.
The innovative print line is the first of its kind and has been created by combining ASM AE's existing high-speed photovoltaic manufacturing processes and Eclipse printing solutions with Ceres' own existing manufacturing capabilities.
Ceres sees growing opportunities for its fuel cell technology across a range of mass-market power applications and is working with leading power systems companies worldwide, including Honda as announced in January 2016, as it delivers against its strategy of establishing the Steel Cell as the platform of choice for future power products.
James Falla, Chief Operating Officer, Ceres Power, commented:
"This scale up project represents an important step change in cost that fuel cells need to bring about widespread adoption. With the help of Innovate UK funding and ASM Alternative Energy we are now showing that our Steel Cell can be mass manufactured economically using highly scalable processes, allowing us to provide customers with a low cost fuel cell solution."
Brian Lau, VP of Business Development, ASM Alternative Energy, commented:
"ASM Alternative Energy is constantly pushing the envelope; not only on sheer print speed, but on throughput to ensure fast, high-volume, high-yield processing. The partnership with Ceres Power is a very important step forward for lowering the cost of fuel cell technology and highlights the capability of ASM AE's Eclipse cell printing platform as a central component to enabling affordable alternative energy solutions. We are honoured to work with Ceres Power on this significant milestone."
To find out more watch Innovate UK's film about Ceres Power's manufacturing scale up at: http://www.cerespower.com/news-media/videos
Ceres Power Holdings plc
Phil Caldwell, CEO
Richard Preston, CFO
Tel: +44 (0)1403 273 463
Zeus Capital (Nominated Adviser and Broker)
Phil Walker / Andrew Jones
Tel: +44 (0) 20 3829 5000
Mike Bartlett/James Collins
Tel: +44 (0) 20 7920 3150
Notes to Editors:
About Ceres Power
Ceres Power (http://www.cerespower.com) is a world leader in low cost, next generation fuel cell technology for use in distributed power products that reduce operating costs, lower CO2, SOx and NOx emissions, increase efficiency and improve energy security. The Ceres unique patented Steel Cell technology generates power from widely available fuels such as natural gas at high efficiency and is manufactured using standard processing equipment and conventional materials such as steel, meaning that it can be mass produced at an affordable price.
The patented Steel Cell is a perforated sheet of steel with a very thin ceramic layer that converts fuel directly into electrical power and heat in a very efficient way. The ability to manufacture ceramics on steel is unique to Ceres in the fuel cell industry and the scalability of the manufacturing processes is key to the company's commercial strategy.
Ceres offer its partners the opportunity to develop power systems and products using its unique Steel Cell technology and know-how, combined with the opportunity to supply the Steel Cell in volume through its manufacturing partners.
About ASM Alternative Energy
Acquired by ASM Pacific Technology Ltd. (ASMPT) in 2014, the brand formerly known as DEK Solar along with the solar technology portfolio from ASMPT are now united as ASM Alternative Energy. Encompassing all of the award-winning DEK Solar technology and innovation developed over the last ten years combined with the product portfolio, global resources and solar innovation of ASMPT, ASM Alternative Energy leads the market in fuel cell and solar cell solutions. Technologies include market-leading solar and fuel cell metallization/printing platforms, advanced stencils and screens, SolarBlades and SolarWIS wafer inspection systems. For more information, visit www.asm-ae.com.
ASM Pacific Technology Limited
ASM Pacific Technology (ASMPT) has been listed on the Hong Kong Stock Exchange since 1989. The ASMPT Group develops systems and solutions for semiconductor production and packaging as well as surface mount technology applications. The company has plants in Hong Kong, China, Singapore, Malaysia and Germany.
ASMPT is currently one of the constituent stocks on the Hang Seng HK MidCap Index under the Hang Seng Composite Index, the Hang Seng Information Technology Industry Index, the Hang Seng Hong Kong 35 index and the Hang Seng Global Composite Index.
For more information about ASMPT, visit www.asmpacific.com
About Innovate UK
Innovate UK is the UK's innovation expert. It works with people, companies and partner organisations to find and drive the science and technology innovations that will grow the UK economy - delivering productivity, new jobs and exports and keeping the UK globally competitive in the race for future prosperity. For further information and to stay updated on the latest news visit www.gov.uk/innovateuk, follow on Twitter at @innovateuk or subscribe to the YouTube channel at www.youtube.com/innovateuk.