Ceres Power Holdings PLC - Horsham, West Sussex-based solid oxide fuel cell developer - Expects interim revenue for the six months ended June 30 of around GBP17 million, almost doubling from GBP8.9 million a year previously. The strong first-half performance has helped Ceres maintain its course to match annual revenue consensus estimates of GBP31.5 million.
The GBP44 million pipeline on June 30 is unchanged from six months before. While the GBP42 million order book is 22% below the start of the year.
"It has been another period of significant growth for Ceres with strong and meaningful strides from our partners. In addition, we successfully raised GBP181 million to pursue a broader strategy in electrolysis for green hydrogen and to double the addressable market for our solid oxide technology," comments Chief Executive Phil Caldwell.
Current stock price: 921.50 pence
Year-to-date change: down 30%
By Will Paige; willpaige@alliancenews.com
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Ceres Power (CWR)