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Tech Capital
Market: AIM
52-week High/Low: 16.00p / 8.14p
Sector: Cleantech and Renewable Energy
Market Cap: 148.30M

Ceres Power Holdings PLC is a world leading developer of low cost, next generation fuel cell technology. Used in decentralised energy products our Steel Cells enable a change in the way homes and businesses generate their power, reducing energy costs, lowering CO2 emissions, increasing efficiency and improving energy security and reliability.

Our aim is to create a fuel cell for the...

Ceres Power Holdings plc

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Big picture - Why invest in Ceres Power Holdings plc

Ceres Power Holdings plc Snapshot

Ceres Power Holdings PLC is a world leading developer of low cost, next generation fuel cell technology. Used in decentralised energy products our Steel Cells enable a change in the way homes and businesses generate their power, reducing energy costs, lowering CO2 emissions, increasing efficiency and improving energy security and reliability.

Ceres : a change of power - full version 

Ceres Power is founded on British technology and engineering innovation originating from Imperial College. The principle of innovation is at the very heart of what we do.

Our unique Steel Cell is a cost effective technology that is being validated by our OEM partners around the world to power the next generation of power products.

The patented Ceres Steel Cell operates on natural gas and is manufactured using conventional materials and standard processes developed for the solar industry, meaning that it can be mass produced at an affordable price for domestic and business use.

Fuel Cells have been around since the 1960’s, when they were first used for mission critical, expensive applications such as space programmes. Following years of development they are now demonstrating their value as a key part of the power generation future, although fuel cells in general remain expensive, with the largest deployment in Japan, South Korea and the US supported by government subsidies.

At Ceres we have the next generation of this technology. We have an affordable fuel cell for the real world, made possible with the use of conventional materials and standard manufacturing processes. This step change in cost reduction will make widespread adoption for homes and businesses a reality.

Ceres: a change in power.

The Steel Cell

The Steel Cell is a unique fuel cell technology that converts fuel (in this case Natural Gas or Hydrogen) directly into electrical power.

We believe that the Steel Cell is one of the most cost effective and robust fuel cells ever developed.

In the simplest terms it is a perforated sheet of steel with a special ceramic layer that transforms fuel into electrical energy in a very efficient way.

By using standard manufacturing processes and equipment, which are already used in the photo voltaic and printed circuit board industries, we have the ability to easily scale up for mass manufacturing

Why the Steel Cell is Unique

The patented Ceres Steel Cell is a clever combination of unique technology, durable low cost materials and existing manufacturing processes.

What makes the Steel Cell so unique is the fact that it operates at temperatures of 500-600 °C. This allows the use of low cost steel and abundant ceramics with cost-effective mass manufacturing, at the same time as delivering high performance.

We make the Steel Cell by screen printing layers of ceramic ink onto a drilled sheet of steel. Achieving these high quality ceramic layers at low temperature on steel is protected through extensive registered intellectual property and Know-How. Unique to Ceres is the use of Ceria in the anode and electrolyte. Ceria is as abundant as copper and is used industrially for dyeing glass, self-cleaning ovens and catalytic converters in cars. Steel needs no introduction as the backbone of modern life, used in 75% of household applications.

The Steel Cell is a very efficient way of generating power from gas and can use the existing gas infrastructure. With our technology you get up to 20% more electricity for every unit of gas compared to the grid*. This means that regular users could reduce the carbon footprint of their home by 25% and even more for the modern always-on business.

The combination of these factors makes the Steel Cell an efficient, cost effective and cleaner way of giving people control over their energy supply.

How the Steel Cell Works

A fuel cell is the most efficient way of converting fuel energy into electricity. It doesn’t matter whether the fuel is natural gas or hydrogen. Fuel cells convert fuel and air directly into power and heat in a chemical reaction. This makes the process efficient, reliable and quiet.

Fuel passes over the anode side and air passes over the cathode. Sandwiched between the anode and cathode is the very thin, electrolyte layer. An external circuit connects the anode to the cathode and provides the mechanism to take power from the fuel cell to power electrical devices.

A single cell can power a low-energy light bulb. Approximately 100 cells are combined to create a stack. One stack could supply up to 90% of a home’s electricity needs and all of its hot-water.

The Steel Cell is completely scalable, for example 200 stacks can supply a large office, apartment block or supermarket.

Intellectual Property

At Ceres Power our strategy is to register, protect and exploit our intellectual property (IP) assets, which form the basis of our unique technology and product range.

We have already developed a significant IP portfolio in the form of patents, trademarks and know-how, covering a range of innovations including materials, product designs and manufacturing processes for the Ceres Technology Platform, which is available for transferring under license to our commercial partners.

Our background IP enables us to enter into supply chain and market channel relationships from a position of strength. By agreeing IP ownership and access early in the engagement process we are developing successful partnerships around the world.

Alan Aubrey

Alan Aubrey - Chairman

Alan joined the Company in December 2012 as Chairman. He is the CEO of IP Group plc, a leading UK intellectual property commercialisation company and major investor in Ceres Power. He is also Non-Executive Chairman of Proactis, an AIM-listed software company and a Non-Executive Director of the Department for Business, Innovation & Skills (BIS). Previously Alan was a partner in KPMG where he specialised in providing advice to fast growing technology businesses. He is a fellow of the Institute of Chartered Accountants of England and Wales. Alan holds a BA in Economics and an MBA.

Phil Caldwell - Chief Executive Officer

Phil joined the Company in September 2013 as CEO. He was previously Corporate Development Director at Intelligent Energy Limited, a company specialising in the development of PEM fuel cell systems, where he was responsible for leading commercial and strategic business development activities, including securing OEM partners, executing licence deals and joint ventures in the Far East. Prior to joining Intelligent Energy, Phil was responsible for business development for electrochemical technology within ICI. He has a Masters degree in Chemical Engineering from Imperial College, London, holds an MBA and is a Chartered Engineer.

Richard Preston - Chief Financial Officer

Richard joined Ceres Power in 2008 as Financial Controller, performing key finance and programme manager roles across the business. He was appointed to the Board as Chief Financial Officer in February 2013. Previously Richard held a number of senior roles in business transformation and project finance at Cable & Wireless. He is a Chartered Accountant and Corporate Treasurer and holds an MA in Engineering and Management Studies from the University of Cambridge.

Mark Selby - Chief Technology Officer

Mark joined Ceres Power in 2006 and was appointed to the Board as Chief Technology Officer in October 2014. He is responsible for leading all aspects of the strategy and delivery of the Steel Cell technology development. Prior to joining the Company he was part of the Control & Electronics Department at Ricardo UK Limited. Mark has degrees in Electronics, Dynamics and Control Systems awarded by the University of Leeds.

Steve Callaghan - Senior Independent Director

Steve joined Ceres Power in December 2012 and was appointed Senior Independent Director in March 2014. He is also NED at OMNICO Group and LUMATA Holdings, both privately held businesses and he is Chairman of Navtech Radar Ltd. Prior to joining the Company he held a number of senior executive and CEO positions in both public and private businesses over a period of 20 years. He has a degree in Electrical and Electronic Engineering from Cranfield University.


Aidan Hughes - Non-Executive Director

Aidan joined Ceres in February 2015 as Non-Executive Director and Chairman of the Audit Committee. He has over twenty years of senior finance experience in a variety of listed companies, including as Finance Director at the Sage Group Plc from 1993 to 2000 and as a director of Communisis Plc from 2001 to 2004. Since 2004 he has been Non-Executive Director of Dialog Semiconductors plc (“Dialog”), a UK company listed on the Frankfurt stock exchange, where during his tenure Aidan chaired its Audit Committee. He is also an investor and adviser to a number of international private technology companies. Aidan is a Fellow of the Institute of Chartered Accountants in England and Wales.

Mike Lloyd - Non-Executive Director

Mike joined Ceres Power in July 2012. He has more than forty years of experience in engineering, manufacturing and supply chain roles in the electrical machinery and power sectors. His senior leadership roles have included Group Manufacturing Director, President of Rolls Royce Gas Turbines Operations, Technical Director of GEC Large Machines and Managing Director of Alstom Transport. Mike is currently a Non-Executive Director in a number of Energy Sector related companies, including Magnomatics, Atlantis Ltd , Rimor Ltd and Aerospace Tooling Ltd. . He has a BSc in Electrical Engineering, a PhD in Electrical Machines and is a Fellow of the Royal Academy of Engineering.

Robert Trezona - Non-Executive Director

Robert joined the Company in December 2012. He has been working in technology venture for many years, focusing on cleantech and materials opportunities. He is the cleantech lead at IP Group plc and provides sector expertise across IP Group’s portfolio as well as originating and managing investments in high-potential cleantech start-ups. Prior to this he was Head of Research and Development at the Carbon Trust, fuel cell team lead at Johnson Matthey and Ceres Power and strategy consultant for McKinsey and Company. He holds a PhD in Materials Science from the University of Cambridge.

Ceres Power
Viking House
Foundry Lane
RH13 5PX

+44 (0)1403 273463

Ceres Power ITEC T05, Floor 3, Building Number 4
Kyoto Research Park
Awatacho 93
Kyoto City

+81 (0)75 748 9080

Seoul Finance Center, 4F
136 Sejong-daero
Seoul 100-768

+82 (0)10 4455 5309

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