Ceres Power Regulatory News (CWR)

16 May 2005 07:00

Ceres Power Holdings plc16 May 2005 Ceres' fuel cell sets new global standards in performance tests The fuel cell being prepared for use in homes and industry by Ceres Power, theAIM-quoted company ("the Company") has recorded a level of performancesignificantly exceeding previously reported industry benchmarks in new testsjust completed at its Sussex operating base. These results, when compared with competing SOFC technology, mean Ceres nowexpects even better performance from longer lasting fuel cell products whichshould be even cheaper to manufacture. The tests, conducted over periods of more than 3,000 hours, showed that Ceres'third generation fuel cells significantly exceed previously reported globalindustry standards of performance. Ceres Power Chief Technology Officer, Nigel Brandon, said: "We have beatencritical industry benchmarks on four fronts at once - power output, integration,durability and manufacture. Our customers will recognise these dramatic resultsas key achievements on the road to unlocking global mass markets." The Ceres fuel cell has been more than 15 years in development, and is now undertestbed manufacture at the company's Crawley headquarters. It can be powered bynatural gas as well as hydrogen, so that it can be introduced before the adventof a hydrogen economy. In addition, the fuel cell does not require expensiveplatinum catalysts and is produced using established mass production techniques. Prototype development and system integration programmes now underway arefocusing on complete power generation units to produce heat and electricity fromhome boilers, stand-alone generators and other products. Global industrial gasesgiant BOC is in partnership trials with Ceres using bottled gas to generateelectricity from the fuel cell. Ceres' breakthrough technology was recently recognised as industry leadingthrough the award of the prestigious Gold Medal for 2005 from the Institute ofMaterials, Minerals and Mining. Technical background Ceres' third generation solid oxide fuel cells operate effectively over thetemperature range of 500 degrees C and 600 degrees C, delivering peak power densities over 550mW/cm2. In addition, stacks of 40 cells have delivered over97% of the total expected output based on single cell performance, demonstratingstack engineering excellence. Stacks have been operated for over 3000 hours,meeting current industry durability targets of 1% degradation per 1000 hours. Stacks have also been thermally cycled over 25 times with no measurable loss inperformance and hundreds of cycles have been completed on individual cellswithout failure. Ceres has now established statistically capable manufacturingprocesses, with batches of hundreds of cells being produced meeting qualitystandards. For further information contact: Peter Bance, Chief Executive, Ceres Power Ltd: +44 (0) 1293 400 404Allan Piper, First City Financial Public Relations: +44 (0) 20 7436 7486 +44 (0) 7736 064 982 This information is provided by RNS The company news service from the London Stock Exchange