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It's skyrocketing right now after US market

https://www.businesswire.com/news/home/20260630023022/en/Brookfield-and-Bloom-Energy-Expand-AI-Infrastructure-Partnership-to-%2425-Billion-Fivefold-Increase-to-Build-and-Finance-Rapid-Power-for-AI-Infrastructure

Difference between Doosan legacy fuel cell tech and Ceres SOFC. Can they both produce hydrogen?

according to AI (Claude):

Doosan's legacy technology is PAFC (phosphoric acid fuel cell), the platform it built its reputation on with large stationary power plants in South Korea, including the 50 MW Shinincheon Bitdream plant — which was the world's largest plant of its kind. PAFC uses a liquid phosphoric acid electrolyte, runs at moderate temperatures (roughly 150–200°C), is mature and well-proven, but has lower electrical efficiency and slower startup than newer designs. That said, Doosan terminated three PAFC supply contracts in April 2025 worth around $560 million, citing project delays and financing problems, signaling some strain in that legacy business.

Ceres SOFC (solid oxide fuel cell) is a different, newer-generation technology that Doosan licensed rather than developed in-house. Doosan signed a joint development agreement with Ceres Power, a British SOFC company, back in 2020 to develop SOFC cells and stacks. SOFCs use a solid ceramic electrolyte and operate at much higher temperatures (typically 600–800°C+), which gives them notably higher electrical efficiency — SOFCs are considered the most efficient fuel cell type, reaching 60% efficiency or more. Doosan's newer SOFC systems are reaching up to 64% electrical efficiency, aimed at high-growth markets like AI data centers. Doosan has now moved this from pilot stage to real commercial scale: mass production began in July 2025 at a new 50MW factory in Jeollabuk-do, South Korea — the world's first factory built for Ceres' metal-supported SOFC design.

So the practical difference: PAFC is the older, simpler, lower-temperature workhorse technology; SOFC is the newer, hotter, more efficient design that Doosan doesn't own outright but builds under license from Ceres. Doosan hasn't dropped PAFC entirely — its stated strength is still a diversified portfolio spanning PAFC, SOFC, and PEM — but the strategic momentum has clearly shifted toward SOFC.

On your hydrogen question: in their normal mode, both PAFC and SOFC consume hydrogen (or a hydrogen-rich fuel) to generate electricity — they don't produce it. However, solid oxide cells have a special property PAFCs don't: they're reversible. Run backwards as a solid oxide electrolysis cell (SOEC), the same basic ceramic stack can split steam into hydrogen and oxygen instead of consuming hydrogen, essentially because the high operating temperature and solid oxide electrolyte work efficiently in both directions. Other SOFC makers like Elcogen explicitly market combined SOFC/SOEC technology, and Ceres itself has SOEC/electrolysis development underway as a logical extension of its SOFC platform. PAFC's liquid-electrolyte, lower-temperature chemistry isn't well suited to efficient reverse operation, so it's essentially a one-way (power-generation-only) technology. Energy Institute

So: SOFC, in principle, can be flipped to make hydrogen v

There were days when the buyer-seller ratio was 3:1 and yet the price was crashing... there were also days when the ration was 1:3 and yet the price were going up... those data are recorded in LSE... so they can be used as evidences.

It's time someone has to file case in LSE against the MM. I've watched this stock for a year and the manipulation is so blatant nobody cares for as long as they make money.

Ijr1,

That was Thursday stock price movement. Today (19th June) is holiday in the USA, no trading in the NYSE.

Jude47,

Did you post this in a wrong board? Or you know something about CWR that we have no clue about?

It's impossible that these huge volume of buying at the end of trading session has no insider information... expect an RNS this coming week for a big news.

Marshall Wace Llp increased their shorts yesterday... must be very brave souls 😂

Aside from the 2.58m shares bought @ UT, 1.8m more shares were bought after UT. That's a total of 4.9m shares during and after UT alone. That explains why trading was suspended 12 minutes before the end of the trading session.

2.581m shares sold at UT. LSE suspended the CWR trading 12 minutes before the end of the trading session.

2,581m (6.54-5.7) = £2.17m that's easy money for the MM for a few days of work 😆dragging the price down to under 570p and then sell them at 654.5

Leonsix,

CWR is already in the FTSE250.

The very reason why Ceres has to raise £100m is to support the significant orders already in the pipeline. If Weichai is going to have the largest SOFC in the world soon and they have to get the 'magic sauce' from Ceres (because Ceres can't give the cooking recipe how to make that magic sauce for the risk of giving the IP to the Chinese), then Ceres should have that capacity ASAP to supply Weichain's 1GW factory requirement.

Doosan is the first partner to start mass production but they are also the smallest in terms of factory capacity (only 50MW). Delta (based on the latest report) is planning for 500MW+ capacity whilst Weichei aims for the largest SOFC factory (1GW) in the world. Delta has already the Centrica as customer and probably already some undisclosed until the factory starts production. Delta original capacity was 200MW. On weichai, being partly-owned by the Chinese communist government has no problem getting the customer to max out its factory I think.

Just my opinion. I think some institutions that were not able to get in on 29th May (because there were not enough floating shares) were not also able to get in when the 18m new shares were added because those additional shares were already snapped by bigger institutions who may have an insider knowledge. So those institutions that want to still get in ordered the 2m shares like what happened yesterday. For the MM to fulfil that order they have to drag the price and slow it down to scare the holders to sell. Those institutions that snapped the 18m new additional shares are not selling them, so the float volume has not increased after the new additional 18m shares were added.

But MM reflected the buy only at the end of the trading session today after UT. So for a couple of days MM has been dragging the SP under 583p to scare the holders to sell and collect enough volume to fulfil the 2m orders and make money. Classic! 😂

MM is collecting shares to sell on higher prices in the coming days.

The private investors could have bought all of the shares allocated to the retails public. I think the only reason CWR sold some shares to the retail public is because it's a legal requirement.

Artgasm, I always had an orgasm reading the messages here until I read your post 😂

Most are auto buy

MM dragging the price down, collecting more volume for big order. Remember, the new additional 17m+ shares were already bought by the big institutions... which means the floating shares remained the same.