RE: Change at the top.7 Sep 2024 06:52
Yet another negative angle from Unplugged in what seems to be a very bad attempt to cast doubt and without any research / thoughts. From the trading update on 22 July.
London South East
Mike Ralston, CEO, discusses the MOU Signed to Pioneer Graphite Production in Uganda. Watch the interview here.
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CWR Live PriceLast checked at
06:48:21
Share Price Information for Ceres Power (CWR)
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Share Price:
185.00
Bid:
186.10
Ask:
187.00
Change:
-7.10 (-3.70%)
Spread: 0.90 (0.484%)Open: 192.50High: 194.60Low: 185.00Prev. Close: 192.10
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New licence partner and trading update
22 Jul 2024 07:00
RNS Number : 1852X
Ceres Power Holdings plc
22 July 2024
22 July 2024
Ceres Power Holdings plc
("Ceres" or the "Company")
New manufacturing licence partner and trading update
Ceres Power Holdings plc (CWR.L), a leading developer of clean energy technology, has signed a global long-term licence agreement for the manufacture of Ceres' proprietary solid oxide electrolyser cell ("SOEC") technology with a global original equipment manufacturer ("OEM") headquartered in the Asia Pacific region (the "Partner").
Highlights
· Global OEM Partner - secures another partner for Ceres with the scale, expertise and resource to manufacture advanced equipment for the growing green hydrogen sector
· Significant Revenues - the agreement provides revenues for licence fees, engineering services and hardware over multiple years, similar to the profile of previous OEM licences
· Royalty Payments - the agreement also provides for royalty payments to Ceres on future commercial production and sale of SOEC equipment to end customers by the Partner
At the Partner's request, further details are not expected to be disclosed until early August.
Trading Update
Ceres also provides a trading update, with interim results for the six-month period ended 30 June 2024 expected to be released on Friday 27 September 2024.
· Increased full year revenue guidance of £50-60 million
· Revenue for the first half is expected to be in the range £27-29 million (H1 2023: £11.7 million[1]), more than double the revenue of the prior year comparator six-month period
· Gross margins in the half year increased to around 75-80% (H1 2023: 62%1)
· Cash and short-term investments were approximately £126 million as at 30 June 2024 (31 December 2023: £140 milli