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Ships face variable power demands. Traditional SOFCs take hours to warm up and crack under thermal stress if cycled up and down. Doosan/Ceres mid-temperature system can throttle its power output to match the ship's needs without degrading.

​An SOFC electrochemically reacts fuel in a way that produces a highly concentrated, clean stream of CO_2 and water vapor from its exhaust. This makes trapping, condensing, and storing the liquid carbon on board remarkably easy and cost-effective, pushing fossil-fueled ships near zero-emission status.

Phase 1: The Newbuild Wave (2026–2030)

​Target: 300 to 500 Tankers

​Why: Tanker order books are currently hitting a 17-year high, driven by the fact that over 20% of the active crude fleet is approaching 20 years old—the age where ships are typically recycled. Shipowners ordering vessels right now are opting for "alternative-fuel capable" designs.

​Doosan’s initial 50 Megawatt (MW) factory can supply roughly 80 to 100 ships per year with auxiliary power units (assuming a 500–600 kW system like the one tested with Shell).

Phase 2: The Retrofit Tipping Point (2030–2040)

​Target: 3,000+ Tankers

​Why: The IMO’s Carbon Intensity Indicator (CII) rating system grades ships from A to E on efficiency. By 2030, older tankers running traditional engines will automatically slip into "D" or "E" brackets, making them legally uncharterable by major oil companies like Shell or BP. Shipowners will be forced to retrofit their mid-life fleets with modular SOFC auxiliary units to keep them compliant.

The original 2020 partnership with Navig8 successfully de-risked the concept, allowing Doosan to confidently build its 50MW mass-production plant and position itself to capture a maritime fuel cell market that analysts project could reach 300GW by 2050.

On a 4th down day to cheer up here is something few have paid attention only in the AI hubs power demands .

Ships need to go carbon neutral soon and quietly in background trials are running with results possibly due end 2026. Demand then will be huge in this sector.

The Navig8 Foundation

November 2020

Doosan and Navig8 signed the initial agreement. Navig8 provided critical technical ship-design parameters and fleet data, establishing that the modularity of Ceres' metal-supported fuel cells could fundamentally change conventional maritime architecture without sacrificing deck space.

Consortium Expansion (Shell & HD KSOE)

February 2022

To move from blueprint to a physical vessel, the project scaled up. Doosan, alongside its US subsidiary HyAxiom, formed a broader consortium with global energy giant Shell and HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the world's largest shipbuilder.

World-First Maritime Milestone

March 2024

The core component—the Doosan/Ceres SOFC cell stack—officially passed the rigorous DNV Marine Environmental Test. This marked the first time in the world an SOFC stack successfully proved it could maintain power output under extreme maritime conditions, including severe vibration, tilting, high humidity, and electromagnetic waves.

Full System Certification

Late 2024

Following the stack success, Doosan and HyAxiom completed full marine certification for the remaining auxiliary components and the entire unified SOFC system loop.

Commercial Sea Trials Launched

2025 - Present

The culminating result of the 2020 plan is active deployment. A 600 kW SOFC Auxiliary Power Unit (APU) has been installed on a Shell-chartered LNG carrier built by HD Hyundai. The vessel is currently conducting a year-long demonstration on actual commercial shipping routes to benchmark real-world emissions reductions.

The Real-World Results & Environmental Impact

​The data gathered from this progression has validated several key benefits over traditional internal combustion marine engines:

​Drastic Emissions Reductions: When running on standard liquefied natural gas (LNG), the system cuts greenhouse gas emissions by 9% compared to traditional gas engines and slashes PM2.5 particulate pollution by 37%.

​To achieve carbon neutrality during this phase, Ceres and Doosan have designed the system to integrate seamlessly with On-Board Carbon Capture and Storage (OCCS) systems.

​Traditional combustion engines release highly diluted CO_2 mixed with massive amounts of nitrogen from the air, making exhaust carbon capture incredibly inefficient.

Ceres fuel cells can run on Green ammonia and green hydrigen in future when it is available freely without need to change the stack making it lead the way in SOFC technology.

South Korean equipment manufacturer SFA is using the "metal-supported" Solid Oxide Fuel Cell (SOFC) technology to build out the equipment for Weichai’s massive new mass-production stack order.

Conventional SOFC systems rely heavily on fragile, thick ceramic materials (like zirconium or yttrium-based oxides) to act as the primary structural support for the cell.

​SFA’s equipment relies on Ceres' proprietary SteelCell® platform, which fundamentally shifts the cell architecture:

​The Stainless Steel Substrate: Instead of printing on a brittle ceramic base, a laser-drilled, ultra-thin ferritic stainless steel substrate is used as the backbone of the cell.

​Ceramic Active Layers: An incredibly thin layer of ceramic electrolyte and cerium/nickel-based electrodes are printed directly onto this metal sheet.

​The SFA Equipment Specialty: SFA's automated factory equipment specifically provides the precision coating and micro-hole processing required to layer these ceramic materials seamlessly onto the metal sheets without tearing, ensuring uniform conductivity and stacking them into high-output power modules.

hxxps://finance.biggo.com/news/7sZfjp0BvthpMgHBvNnN?hl=en-GB

Chinese government is heavily involved in granting contracts and backing demonstration projects for Weichai’s Solid Oxide Fuel Cell (SOFC) power systems.

​Because Weichai Power is a state-owned enterprise (SOE) under the Shandong Heavy Industry Group, its rollout of SOFC technology acts as a primary vehicle for the Chinese government's national infrastructure goals specifically targeting aggressive expansion of AI data center infrastructure and carbon neutral

​Government-driven contracts and integrations for Weichai's SOFC power include:

​1. State-Owned Grid & Energy Utility Contracts

​The Chinese government operates primarily through major state-owned utilities, which have directly contracted Weichai for major distributed energy projects:

​The State Power Investment Corporation (SPIC) Contract: Weichai successfully delivered its 100kW SOFC power generation system to SPIC, a massive state-owned electricity generator. This project was designated as China’s first operational SOFC distributed power generation demonstration project, heavily funded and monitored by state energy regulators.

​Weifang Energy Group Collaboration: Backed by the local municipal government, Weichai integrated a 100kW SOFC commercial product into the regional energy network, which has cleared tens of thousands of hours of real-world operational testing.

​2. The Government-Directed "AI Data Center" Pivot

​Due to the explosive power demands of artificial intelligence, China's Ministry of Industry and Information Technology (MIIT) has heavily pushed for alternative, highly efficient off-grid power solutions.

​The €200M Scaling Contract: To fulfill looming state-level mandates for green computing power, Weichai placed a massive ₩300 billion (~$204 million USD) order with South Korea’s SFA to build out the core cell and stack manufacturing equipment for their mass production line.

​This factory is being built in Shandong Province specifically to output 30MW-class hydrogen and natural gas SOFC systems aimed directly at powering newly built government and commercial AI data center hubs.

​3. Indirect Policy Subsidies and Bidding Advantages

​While western countries use tax credits, the Chinese government leverages a "bidding catalog" system. Because Weichai's latest generation metal-supported SOFC stack achieves a peak power generation efficiency exceeding 65% (a metric highly valued by China's national engineering standards), Weichai has been granted preferred status on state-backed procurement lists for industrial microgrids, water conservancy projects, and backup power configurations.

​The Big Picture: Weichai doesn't operate in a vacuum—the Chinese government is effectively functioning as their primary anchor customer. By funding national "first-of-its-kind" demonstration projects through state utilities like SPIC, the government is absorbing early technology risks to help Weichai scale its SOFC stack capacity to commercial maturity.

Ceres is going to have many 15 to 20% up days once the contracts info comes in. Till then the base price we need to rely on is based on CEO Cladwell selling 456940 shares on 30/4 @ 622p for £2.84 million. He sold on day of Delta Centrica partnership announcement. This should be an indicator that he had priced in all inside info near term and brokers advice to sell. Rose that day from 498p to 619p. Additional upgrades bumped it nicely but cancelled out with the downgrades, short term profit taking, weak hand selling, MM manipulation and general downturn in market Friday. Macro caps bought heavily at 844p and in for the long haul. 8 brokers have given upgrades since March have faith. Need to take good days with bad days and not panic. Feel for those who bought at 850p level newly and seeing it fall 20%. 625p level there should be support if it drops unless entire market goes south with the Farce of the SpaceX IPO and nasdaq manipulation by Musk.

Got a tiny fraction of the MM 581K, selling at open 824 to 818 and picking at 784 average :) within 20 minutes6000 tranches. Expected MMs price drops as anticipated start of week with no news. Suggestion to anyone good and interested in day trade as the MMs take this for good swings intraday for many months now.

Price of Bloom, fuel cell, Weichai, Doosan, Delta has no bearing on ceres price unless the latter 3 have contract news or tieups before UK markets open. Doosan down 6% today and 17% last 5 days has not made a dent on ceres. Ceres is independent juggernaut and the small free float, short interest and demand based on AI interest will make it hold it's value. Should see 850p tommorow

Huge buys after the UT indeed. This will be private transactions agreed between holders of the micro and macro cap funds to deal at UT price once market closes for the huge volume they exchange without causing major disruption to share price either way. This brief session after 4.35pm once UT is set is called "Trading at Last" session until 4:40 PM. This allows funds and brokers to execute further trades, but only at the exact UT price that was just established.

Good day for day trade. Dont be disappointed in price action. If you bought sub 100 or at 300p level in recent past you are on cloud 9 and will not have seen this massive rise in few other stocks (enjoyed the RR ride up). Can't expect big rapid jumps within days. Broker news today same as other 4 nothing major. If this upgrade was not there it might have closed much lower to yesterday's price perhaps.

Contract or US tie up news needed for next big rise like it did from 350p levels.

Remember it was down at 595.5p just 7 trading days ago. 844.5p any day no one anticipated. Have a great weekend.

Re question of bought back. Yes had sold 852 initial at open and then 867 during surge. Picked up all back in 6000 tranches at 842p average at 3.15pm. Expected fall later in day predictable.

Great these brokers are waking up late. Peel still has his head in the sand. Agree with LSBM a lot of catalyst to land to push this to £10 level.

To keep the markets as orderly as possible and price reasonable there are market makers, institutions and short sellers who step in to keep price reasonable to earnings, forward valuation and not letting it to rise too high or drop way low. This is A,B,C of stock market as we all know.

If you did not have this balance including short sellers the entire marked will be way over valued. So for balance you need people/ institutions who sell long positions or short with automated algorithm trades. Those long can reap benefit when these short sellers get it wrong totally as in case of ceres.

Have done day trading a long time and for 100 trades lose on 20 ( not huge deal with buy back at strict levels) mostly selling part of stocks I hold long at presumed high intraday and buying 2 to 3% lower or buy when MMs open trade 5 % low to take out stop sell order. Not all lose doing day trading.

Today sold 2 lots 6000 shares at 8.30am @825 and bought back around 1.30pm @ 802. There were buyers and sellers for shares at this price I traded. Added liquidity to Market.

Tommorow I anticipate it to hit 840 to 850p early and intend to sell and buy back later in morning when they drop it. May be volatile tommorow as large caps will have to buy and will be a huge UT.

Monday if no news expect this to drop back to 780/ 790p levels. Intend to sell early on market open if it opens at friday close or slightly lower when the spread/quote is decent.

DYOR before day trading and need strict sell and buy back points.

49000 shares is a large buy order (whopping) and HFT algorithms will increase the buy price and needs that many shares on sell side to match. Hence you end up getting poor buy rate compared to prevailing market price.

I day trade part of holding average 3 times a week due to the predictable 2 to 3% falls. I get good market rate on interactive investor for buy or sell 6000 shares. Moment you go to 8000 or more price worsens by 2p or more. Rarely use limit or stop order.

1. LIVE SHORT BORROW FEES AND SHARES AVAILABILITY -

Data from institutional lending desks shows that while a massive squeeze hasn’t fully unanchored borrow costs into triple digits yet, the structural "easy short" layout is completely gone:Live Borrow Rate: 2.14%. While a 2.14% annualized fee is manageable for a standard position, it has drifted upward from standard baseline rates, signaling that prime brokers are steadily tightening inventory as the float is bought up by long-term clean energy funds. Short Shares Available: ~600,000 shares remaining via major interactive brokers. This is exceptionally low relative to the size of the positions. If Squarepoint (1.23% short) or Voleon (1.11% short) attempt to add to their shorts to defend their positions, they will rapidly exhaust the remaining inventory and drive this borrow fee up exponentially.

2. Options Chain and Underlying Market Friction Points

Unlike US large-cap equities, Ceres Power trades on the London Stock Exchange Main Market, which relies heavily on market maker liquidity rather than a hyper-liquid US-style retail options chain. However, the European dual-listings (such as the Frankfurt variant CFJ.F) and equity derivatives tracking the LSE ticker create clear pressure points at psychological strike levels.

The 800p / 816p Friction Point (Current Battlefield): The stock closed at 807.50p UT. This represents a massive psychological and technical ceiling (the 52-week high). Short sellers are fiercely defending this line; if the price cleanly breaks and holds above 820p, it activates automated stop-losses for quant algorithms.

The 1,000p (£10) Gamma Wall:

Broader broker estimates, including aggressive upward targets from institutions like UBS, place the top target at 1,000p. In the derivatives market, structured products and market-maker hedges are heavily clustered around the £10 mark. A move toward 900p will force market makers to buy underlying shares to hedge their positions (Gamma hedging), accelerating the velocity of the short-covering

The data shows that short sellers are trapped by volume, not borrow fees. With only 600k shares explicitly liquid for borrowing and the underlying stock trading at peak 52-week valuations on 1.5x its normal daily baseline volume, the current architecture means any sudden AI data centre power announcement could easily force immediate capitulation.

Delta had a good 9.3% rise today with rally in Asian semiconductor and tech shares. Memorial day US markets closed today. Shorts are delightfully cooked. For ArrowStreet Capital current market price is roughly 10x higher (as of Friday close) than their estimated deep-bottom accumulation with average of 80p - only 1.5 million (0.78%) shares to buy at a neat loss of over £10M. Square point below 0.5% was shorted at 325p and from April 0.73% added between 650 to 740p - only 2.4 million ( 1.23%) shares to buy back. Voleon below 0.5% sold at 350p and then the average from March 26 for the remaining 0.61% will be in the 450p to 520p range - only 2.16 Million shares (1.11%) to buy. There might be another 5 Million shareds to buy below the 0.5% threshold shorts who were closing to add to the short squeeze this week. Makes an intersting week.

All AI searches are pointing to LSE chat site for this info this morning including authors of articles quoting the big risecreadon :)

Market makers will not led this ride up 19% without their first hand information. If markets makers got it wrong then tungstenivestor single handed moved the market single handed for longs to gain 15% and shorts to burn. Kudos :)

Great to see these hudge funds lose. 770p barrier will be broken next week or today for that matter. Great closure for BH Weekend

Hitting all time high. No new news today.

Leopold Aschenbrenner is strongly long on fuel cell energy stocks.

​Through his hedge fund, Situational Awareness LP, fuel cell energy represents his single largest bullish equity bet.

According to his Q1 2026 13F filing, his absolute top long position is fuel cell manufacturer Bloom Energy (ticker: BE), holding roughly 6.5 million shares valued at $879 million, plus an additional $55 million in call options. Furthermore, he recently disclosed a brand new 10-million-share long position in another fuel cell play, T1 Energy.

​The Investment Thesis: "Electrons over Chips" Aschenbrenner—a former OpenAI Superalignment researcher—built his fund around the macro thesis outlined in his famous Situational Awareness essay: the true looming bottleneck for the AI boom isn't chip design, but physical power infrastructure.

​His heavy long positions in fuel cells fit into a highly targeted strategy:

​Grid Avoidance: Standard utility grid connections for massive AI data centers can face backlogs and waitlists lasting years.

​On-Site Power: Solid-oxide fuel cells (like Bloom's) can be deployed directly next to a data center to provide independent, 24/7 continuous power in a fraction of the time.

​The "Barbell" Hedge: Strikingly, while he is aggressively long on fuel cells, clean energy, and physical infrastructure, he has heavily shorted the chip sector (holding billions in put options against NVIDIA, AMD, and Broadcom). He is betting that the AI trade is rotating downstream away from overvalued chipmakers and toward the energy providers that actually feed them.

​To round out this energy thesis, his fund also holds long positions in natural gas producers (like EQT Corp) to supply the fuel cells, alongside heavily permitted Bitcoin miners being repurposed for their grid capacity.

hxxps://uk.investing.com/analysis/why-ais-next-bottleneck-may-be-power-not-chips-200624722

Among ceres Partners Doosan Fuel Cell is down 8.5% today. From friday Delta 13% and weichai 8% but no major drop today. All these stocks had a massive run up and will have the few down days driven by various market forces that can manipulate stocks including algorithm trading or grizzly style attack without repercussions.

Nothing has changed in the AI power needs world and bottleneck of suppliers providing onsite power. Ceres has 3 brokers upgrade to 930p to 1000p levels and will get there in due course. There will be good few down days along the way. Nothing to panic if we look at 1 to 2 year horizon.

Here is Goldmans report from Feb 2026 for good read, best done on laptop

hxxps://www.goldmansachs.com/pdfs/insights/goldman-sachs-research/how-rising-hyperscaler-reinvestment-impacts-power-growth-constraints/report.pdf

Usual ....replace tt for xx for newbies.

​Behind-the-Meter (BTM) Alignment: The report explicitly points out that because of grid congestion and constraints on transmission equipment, power sourcing is shifting toward Behind-the-Meter (BTM) / onsite power solutions. This push for decentralized, onsite power closely aligns with the deployment framework for industrial fuel cells to avoid electricity transmission delays.

Goldman Sachs significantly increased its 2030 global data center power demand forecast to 220% growth. This represents a total growth of 905 Terawatt-hours (TWh), with roughly 60% of that expansion concentrated in the United States.

Slowly funds going short are realising they will not win and closing, buying back at a loss with Walleye capital buying 0.11% yesterday. Others including those under water below 0.5% threshold buying regularly to go to 0% will support price in th 702 to 765p range. SInce 5th May after entering 700p SP has oscillated sideways there and we shuld not be worried as long it does this sideway consolidation with the funds short supporting the price with the buy backs. There will be tree shake for Marletr Makers to get some shares and good for day traders. The good thing is the freehold volume is very low with ceres for example compared to ITM ourstanding shares. So does well for explosive rise up with any regulatory postive news or update or progress. AGM THursday may give more insight inot what happened to the Shell follow on contract of the 10MW pressurised SOEC module in Bangalore. Progress on mass production SOFC systems in SOuth Korea. Usually nothing much changes on AGM day but good hints in update wil get more on board.

Bump in the US Fuel Cell tech group today ion news related to NASA experimenting with how to use fuel cells on the moon. The effort is mostly in-house today, but might require assistance from fuel cell companies in the future.

Going where no fuel cell company has gone before :)

As NASA.gov reports, researchers at the NASA Glenn Research Center's Fuel Cell Testing Laboratory in Cleveland are testing fuel systems to "revolutionize the way NASA stores energy during future Moon missions." Through chemical processes, a fuel cell system can transform hydrogen and oxygen into water for drinking and into electricity and heat to support a moon base. It can also run the same transformation in reverse to create oxygen to breathe.