RNS Number : 0399J
Ceres Power Holdings plc
27 November 2008


Ceres Power Holdings plc

 ('Ceres Power', 'Ceres' or the 'Company') 

Alpha CHP product built on schedule 

Ceres Power announces that it has successfully designed and built a 1kW Combined Heat and Power ("CHP") product under the Alpha phase of the CHP programme with British Gas. This important Q4 2008 milestone has been achieved within the timescale set out in the CHP product roadmap presented at Ceres Power's CHP update with British Gas on 24th June 2008. 

The Alpha CHP product integrates the Company's 1kW Fuel Cell Module with all of the ancillary boiler components into a single grid-connected unit and is designed to generate most of the electricity and provide all of the central heating and hot water requirements of a typical home, thereby avoiding the need for a separate boiler.  The wall-mountable CHP product is easy to install, using the same natural gas, water and electricity connections as existing boilers and has met its size and weight requirements with a width of less than 60cm to fit between standard kitchen units.

The Alpha CHP product has also been designed for volume assembly and built using production-intent design components sourced from a cost-effective volume supply chain. All the key sub-systems and components have been individually tested and successfully met their performance requirement specifications. 

Peter Bance, CEO of Ceres Power, said:

"Having achieved this important Q4 2008 milestone on time, we are focusing on CHP product testing in Q1 2009, achieving the sign-off by British Gas in Q2 2009 and receiving the £2 million Alpha phase completion payment."  

Gearoid Lane, Managing Director, British Gas New Energy, commented:

"We are delighted with the CHP product that meets the Alpha phase requirements for size, weight, installation, service and maintenance.  We look forward to the completion of the Alpha CHP product testing and the commencement of the Beta phase." 

For further information contact:

Ceres Power Holdings plc

Tel. +44 (0)1293 400 404

Peter Bance, Chief Executive

Gavin Anderson & Company

Tel. +44 (0)20 7554 1400

Ken Cronin/Deborah Walter/Robert Speed 

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