Last checked at 29 Jul 2009 07:00
29 July 2009
Ceres Power Holdings plc
('Ceres', 'Ceres Power' or 'the Company')
Fuel cell mass manufacturing facility fit out completed
Ceres Power announces that it has successfully completed the fit out of its 50,000 sq. ft. (5,000 m2) fuel cell mass manufacturing facility in Horsham. The fit out works involved upgrading power and air handling equipment , health & safety systems and other services as well as preparing the facility for the installation of volume fuel cell manufacturing equipment.
The key fuel cell manufacturing equipment has been procured and installation of some of the main machines is already underway. It is anticipated that an initial manufacturing line will be commissioned during Q3 2009 and manufacturing operations will commence during Q4 2009. The facility will manufacture low volume beta units in 2009 and into 2010 for sheltered field trials under the contract with British Gas. Additional equipment will be installed in 2010 to deliver the higher volumes required for commercial field trials and in preparation for volume launch with British Gas in 2011.
The facility in Horsham will mass manufacture fuel cells and assemble fuel cell stacks and fuel cell modules in volume. Assembly of the CHP products in volume will be completed by an assembly partner in accordance with Ceres Power's overall design and sold by Ceres Power under volume supply agreements with channel partners including British Gas and Calor Gas.
The new volume manufacturing facility will create a significant number of new skilled 'green-collar' jobs in Horsham and the surrounding area both at Ceres and in the Company's supply chain.
Peter Bance, Chief Executive Officer of Ceres Power, commented:
"We are delighted to have completed the fit out of Ceres Power's fuel cell mass manufacturing facility. Our residential CHP products have the potential to make a major contribution to reducing carbon emissions and we are investing in our operational capabilities to produce large numbers of products cost effectively".
www.cerespower.com
For further information contact:
| Ceres Power Holdings plc | Tel. +44 (0)1293 400 404 |
| Peter Bance, Chief Executive Officer | |
| Rex Vevers, Finance Director |
|
| Morgan Stanley | Tel. +44 (0)20 7677 5044 |
| Alisdair Gayne/Alastair Walmsley | |
| Kreab & Gavin Anderson | Tel. +44 (0)20 7554 1400 |
| Ken Cronin/Deborah Walter/Robert Speed |