Soon to be in mass production...the technology works like no other

RNS Number:0376N Ceres Power Holdings plc 01 December 2006


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



Technical Update: Key Performance and Durability Targets Achieved


Ceres Power, the AIM-quoted fuel cell group, is today providing an update on the progress achieved in the development of its unique patented fuel cell technology. Ceres' continued focus is to utilise its technology to deliver a set of commercially viable products that can be mass manufactured and meet a clear market need.

Rigorous testing of the fuel cell stacks has demonstrated that the required levels of durability and performance can be delivered for the market applications it is targeting, namely domestic combined heat and power (CHP) boilers, off-grid generators and auxiliary power units (APUs).


SUCCESSFUL COMPLETION TO DATE OF MORE THAN 7,500 HOURS OF FUEL CELL STACK testing, reflecting the unique design and the use of well-proven manufacturing techniques

TESTING OF MORE THAN 50 STACKS OF UP TO 1KW POWER OUTPUT WITH REPEATED THERMAL cycling (on/off) between room temperature (20oC) and operating temperature (600oC) without performance degradation

STACK TESTING ON A RANGE OF COMMERCIALLY AVAILABLE FUELS INCLUDING NATURAL gas, LPG and propane demonstrating the capability to meet the performance requirements of a wide range of target market applications

VALIDATION OF STACK MANUFACTURING AND ASSEMBLY PROCESSES WITH MORE THAN 1,000 stack sub-assemblies constructed with a zero failure rate.
As a result of the performance demonstrated during the testing programme our core stack technology has been frozen. This technology will be appropriate for power outputs between 0.5kW and 5kW.

Integrated fuel cell systems have also been demonstrated by coupling lightweight, compact stacks and fuel processors with other key balance of plant components for our planned domestic CHP applications. Our focus is now on completing the designs of end-user products.

As announced at the preliminary results in September, we are currently equipping a new product facility which is expected to be operational by mid-2007 and is designed to produce limited volumes of prototype products incorporating volume manufacturing solutions. These units will be used both for demonstrations and larger field trials. The facility will also be used to develop and validate the manufacturing and assembly processes prior to transfer to mass production.

The scale-up process has been substantially de-risked with the establishment of a supply chain to procure cell, stack and system components utilising technologies with well-proven design lives in excess of 10 years. We are already working closely with a number of OEMs to finalise the arrangements for volume assembly of products utilising fuel cell stacks that will be manufactured by Ceres at a 'mother plant' facility planned to be commissioned in mid-2008.

Peter Bance, Chief Executive of Ceres Power, commented:

"Our testing has demonstrated that our unique technology has overcome many of the obstacles faced by other fuel cell technologies and can deliver durable, efficient and cost effective mass market solutions. We are now focused on completing the design of commercial, compact end-user products."

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Beginning to look interesting. 2 big moves in 2 days.

Something brewing???

Only just bought these and already up 60%

And the rise continues:)

British clean technology firm Ceres Power Holdings Plc said it has not been able to secure the funds it needs to run its operations and that it would continue to explore options, including a wind down of the business.

Ceres said the other options it was looking at included a sale of the business or cancellation of its listing.

The company has faced repeated delays related to the launch of its combined heat and power (CHP) energy efficient boiler as a result of technical issues with the product. The boiler is designed to generate all the heating, hot water and most of the electricity needs of a typical UK home, according to Ceres.

It had 10.2 million pounds ($16.39 million) in cash as of June 30, and has previously said it needed to raise money by the end of September.

"Despite extensive efforts it has been unsuccessful in securing sufficient funding for the business going forward," Ceres said in a statement.

Luckily sold half at 12p and re-invested it. Still took a hit today on the remaining shares but should have seen the warning signs yesterday when somebody knew something.

Hellsing, you should sell everything now...


The future is looking bleak for cash-strapped Ceres Power, the fuel cell technology developer, as it has been unable to secure sufficient funding to keep the business going.

The group had hoped to secure a new tranche of funding before the end of September to enable it to pursue its goal of delivering a "global cost leadership" mass market small combined-heat-and-power product.

The company will continue to explore all strategic options, including a sale of the business, cancellation of the listing and, in the absence of any alternative proposals, commencement of an orderly wind down of the business.

Broker Peel Hunt fears it is the end of the road for Ceres, after "eight years raising money on the back of over-promising."

The broker has reduced its target price from 4p to zero. "A fresh approach from a new CEO [Chief Executive Officer] improved things but there was insufficient potential in the business to make it worth backing, in our view. Investors, who had put in £65m to date, apparently agree and have finally drawn the line."

Peel Hunt notes that the firm's flagship product is still four years away from first commercialisation, and field trials have yet to start. On top of that, "technical progress still needs to be made, there is major uncertainty over manufacturing cost, the economic case for product adoption is limited and there was still a large quantum of funds needed to reach cash break-even," explains Peel Hunt's Andrew Shepherd-Barron.

While Peel Hunt thinks there is sufficient cash for an orderly wind-down of the company the broker is not optimistic that shareholders will see any of it.

"There is a chance that a third party buys the assets, or indeed the business as a whole, but we see a wind down as the more likely outcome," Shepher-Barron concludes.

The shares plunged to a 52-week low 2.05p in morning trading before recovering a little to 2.6p; less than a year ago the company was trading above 30p a share.

Hi,

Sold out this morning - no point holding out. Overall, having sold half at 12p, was in profit by £200 so could have been worse.

One to learn from in the future.

Very poor management.

Any ideas why the spike today. Can't see any news.

News detail
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Wind down of Business

Date: 2:00 pm, 6 Nov 2012

RNS Number : 4553Q
Ceres Power Holdings plc
06 November 2012

6 November 2012



For immediate release

Not for release, publication or distribution, directly or indirectly, in whole or in part in, into, or from, any jurisdiction where to do the same would constitute a violation of the relevant laws of such jurisdiction.


Ceres Power Holdings plc
("Ceres", "Ceres Power" or "the Company")

The Company notes the recent movement in the share price. Following the announcement by the Company on 4th October 2012 regarding its funding position, the Company has continued to explore various strategic options and these discussions are on-going. In the event, the Company is not able to progress any proposals to a successful conclusion, it will as previously announced commence an orderly wind down of the business. The Company will update shareholders in due course.

the company is basically worthless..get out while you can...j boy masonic scam just like voller energy

placing seems a great success as shares finally on the go

bastards!...why did i sell?

LISTEN: Ceres Power Holdings (CWR) - Preliminary results

Click here

http://www.investegate.co.uk/ceres-power-holdings--cwr-/rns/final-results-and-notice-of-agm/201411100700265327W/

Richard Preston, FD, Ceres Power - Interviewed at the Mello 2014 event

Click here

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