Ceres Power (AIM: CWR, "Ceres Power", "Ceres"), a world-leading developer of low cost, next generation fuel cell technology, is pleased to announce that it has today been issued with a Green Economy Mark by the London Stock Exchange (“LSE”).
The LSE’s new Green Economy classification recognises listed companies that derive more than 50 per cent of their activity from the Green Economy. This award follows a milestone year, which saw Ceres double revenues, secure significant license deals, support its first partner to commercial product launch in Japan, and commission a new £8 million manufacturing facility in the UK.
Ceres has a unique solid oxide fuel cell (SOFC) technology that has reached 60 per cent net efficiency, greater than centralised power generation and twice that of combustion engines, opening up multiple market applications for commercial buildings, homes, datacentres, and electric vehicles.
Its asset-light, licensing model has seen Ceres partner with some of the world’s largest engineering and technology companies, such as Weichai in China, Bosch in Germany, and Doosan in South Korea, to develop systems and products that address crucial challenges of air quality and climate change.
Phil Caldwell, CEO of Ceres Power, said:
We are proud to be one of the first companies to be awarded the Green Economy Mark. It reflects our commitment to playing a key role in the energy transition away from combustion systems and is further recognition of the leading role we are playing in providing technology that cuts emissions and air pollution for transportation, industry, data centres and everyday living.