Ceres Power Regulatory News (CWR)

4 Feb 2008 07:01

Ceres Power Holdings plc04 February 2008 4 February 2008 Ceres Power Holdings plc ('Ceres', 'Ceres Power' or the 'Company') New Director Appointments Ceres Power, the AIM-quoted fuel cell group, is pleased to announce theappointment of Alan Wood and Sir David Brown to its Board as Non-ExecutiveDirectors. Together they bring extensive experience in innovative consumerproducts and building high technology based businesses in rapidly developingglobal markets. Alan has had extensive experience within various divisions of Siemens plc havingjoined the company in 1981 and rising to the position of Chief Executive. Alanhas chaired a number of regional CBI councils during the period 1996 to 2006,and has chaired the EEF Economic Policy Committee during the period 2003 to 2005and the Wood Review into EU Public Procurement for HM Treasury in 2004. Alan iscurrently Non-Executive Chairman of Siemens Holdings plc. David was appointed Chairman of Motorola Limited in 1997, having held a numberof executive appointments within the group from 1991. He is a prominent figurein the electronics industry and has had significant involvement in a number ofgovernment advisory bodies. He was also a Non Executive Director of P&O until itwas acquired in 2006. John Gunn who has served a six-year term as a Non-Executive Director of theCompany will retire with effect from 4 February 2008. Brian Count, Non-Executive Chairman of Ceres Power Holdings plc, commented "I amdelighted that Alan and David have agreed to join the Board and their experienceand knowledge will be invaluable in supporting the Group's transition tocommercialisation where it can compete in both the UK and international markets.I would also like to thank John Gunn for his contribution in successfullysteering Ceres over the past 6 years. These appointments complete the reshapingof the Board for the challenges ahead." Information required pursuant to Schedule 2 (g) of the AIM Rules: Alan John Wood is aged 60. He currently holds the following directorships: • Siemens Holdings plc (registered number 02465263) • BSH Home Appliances Limited (registered number 01844007) • Corac Group plc (registered number 03152034) • EEF Trustees Limited (registered number 00727080) • Whatman plc (registered number 00630958) Alan holds no shares or share options in Ceres Power. Other directorships held in last five years (no longer held): • Electrium (2003) Limited (registered number 03335339) • Electrium Limited (registered number 04948228) • Electrium Sales Limited (registered number 02226729) • Electrium (UK) Limited (registered number 00167171) • Oldbury (Banbury) Limited (registered number 04115058) • Osram Limited (registered number 01961715) • Roke Manor Research Limited (registered number 00267550) • Siemens VDO Automotive Telford Limited (registered number 02375012) • Siemens Dematic Systems Limited (registered number 04123512) • Siemens Building Technologies Limited (registered number 01681983) • Siemens VDO Automotive Limited (registered number 00976731) • Siemens VDO Trading Limited (registered number 00965702) • Siemens plc (registered number 00727817) • VDO Holdings Limited (registered number 04114756) • EPCOS UK Limited (registered number 03965688) Sir David Martin Brown is aged 57. He currently holds the following directorships: • Motorola Limited (registered number 0912182) • Motorola Pension Trustees Limited (registered number 06445533) • TTPCom Limited (registered number 03475732) • TTP Communications Limited (registered number 03962171) • Symbol Technologies Limited (registered number 01096253) • Symbol Technologies UK Limited (registered number 03227022) David holds no shares or share options in Ceres Power. Other directorships held in last five years (no longer held): • The Peninsular and Oriental Steam Navigation Company (registered number Z73) • Information Technology Telecommunications & Electronics Association (registered number 1200318) • UFI Limited (registered number 03980770) • UFI Charitable Trust (registered number 03658378) There is no other information required to be disclosed pursuant to Schedule 2(g) of the AIM Rules. - ends - For further information contact: Brian Count, Non-Executive ChairmanCeres Power+44 (0) 7989 494 222Patrick d'Ancona / Ben SimonsM: Communications+44 (0) 207 153 1531 About Ceres Power Ceres is a successful AIM-listed fuel cell business developing a range of globalmarket applications including residential combined heat and power, on-site /back-up generators and auxiliary power units for transport. The technology isbased on commercially available materials for low cost manufacture and, unlikemany fuel cells, the Ceres cell operates on widely available fuels like naturalgas and LPG, as well as on hydrogen. Ceres has developed a new generation of Solid Oxide Fuel Cell (SOFC) technologywhich operates in the temperature range of 500-600 degrees C enabled by the useof CGO (Cerium Gadolinium Oxide) as the electrolyte material. This issubstantially lower than the temperatures at which conventional SOFC materialsoperate, typically 750-1000 degrees C for YSZ (Yttria Stabilised Zirconia). The inherently lower operating temperature of the Ceres CGO-based SOFCtechnology enables thin ceramic layers to be supported by metal substrates,which, in turn, provides the basis of cell and stack designs manufactured fromcommercially available grades of stainless steel, providing excellent sealingintegrity, mechanical robustness, and thermal shock resistance. Fuel and air are supplied to a stack of fuel cell layers to produce electricityand heat via a solid state electrochemical process. Unlike combustion in anengine or with a burner, this process is highly efficient, environmentallyfriendly, and quiet. The uniqueness of the Ceres metal supported SOFC technology and its operatingtemperature range provide the basis for a range of attractive commercialapplications in terms of: fuel efficiency, with associated economic savings andreduction in carbon emissions; heat-to-power ratio ideally suited for domesticCHP applications and well matched to seasonal variations in electrical and heatdemand; the ability to operate on a range of commercially available fuelsincluding natural gas and LPG; low temperature of operation enabling use ofcommercially available materials resulting in reduced product costs. In conjunction with the Ceres stack programme, the Company has been developingthe non-fuel cell elements within the complete product, known as the balance ofplant ('BOP'), as part of its systems integration activities aimed at deliveringproducts for specific customers. Because of the unique attributes of thetechnology, Ceres has been able to dramatically reduce the time and cost of BOPdevelopment and systems integration by utilising mature component supply chainsand ordinary, low cost materials. Unlike other fuel cell designs which operateat more extreme temperatures, time-consuming and expensive bespoke solutions forBOP components are not required. This information is provided by RNS The company news service from the London Stock Exchange