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Ceres Power Holdings PLC shares surged on Monday as it said South Korean partner Doosan Corp has started mass market production of fuel cell stacks using Ceres’s solid oxide technology. In response, Ceres Power shares rose 45% to 146.00 pence in London on Monday morning. Doosan shares were down 5.8% at ₩537,000.00 late Monday on the Korea Stock Exchange. Ceres, a Horsham, England-based clean energy technology developer, said the Seoul-based conglomerate will manufacture the stacks and fuel cell power systems at a dedicated factory in South Korea. The factory has the ability to produce a combined generational capacity of 50 megawatts of electrical power each year. Ceres said Doosan is the first of its strategic licensing partners to enter mass production using its technology. The fuel cells, stacks and power systems will initially be marketed to customers in South Korea. The completion of the factory in Jeollabuk-do, South Korea is the first Ceres metal supported solid oxide fuel cell and systems facility to come on-stream. Doosan Fuel Cell expects to sell the first solid oxide fuel cell products before the end of 2025. It will distribute the solid oxide systems, with a primary focus on applications for stationary distributed power, including data centres. ‘Fuel cells have a major part to play in meeting the world’s rapidly-increasing power demands, developing energy resilience and ensuring decarbonisation,’ said Chief Executive Officer Phil Caldwell. ‘Ceres’s solid oxide design is the ideal technology for these applications through its higher efficiency, lower cost and greater robustness than other technologies. Doosan Fuel Cell’s commencement of mass manufacturing is a major step in bringing this technology to the world.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
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