Ceres Power Awarded £1 million in Funding from UK Department of Energy & Climate Change

20 Nov 2013

Ceres GenericCeres Power, the UK-based residential fuel cell technology developer, has successfully secured £1 million in grant funding from the UK Department of Energy & Climate Change (DECC) Energy Entrepreneurs Fund (EEF). The EEF is intended to support strategic innovation in order to make the UK a world leader in new low carbon technologies and to develop businesses in the field on a global scale.

Ceres Power will use the funding to further develop its ‘Steel Cell’ technology platform. The company claims that the technology demonstrates robustness and performance at an inherently lower cost to alternatives in the market. The company is working with product manufacturing partners to integrate the technology into end products, most notably with South Korea’s largest boiler manufacturer, KD Navien.

Phil Caldwell, Chief Executive of Ceres Power, said:  “I am delighted with this significant endorsement of our technology and business strategy.  Delivering high efficiency at low cost has been our key differentiator in attracting commercial partners to consider Ceres for their next generation of low carbon power products.  It is also the foundation upon which we are building a strong, UK-based technology business with a global reach.”

 

Reference: Ceres Power (emailed press release)


Industry Directory: Ceres Power

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