Ceres Power Regulatory News (CWR)

21 Feb 2005 07:01

Ceres Power Holdings plc21 February 2005 Ceres Power Holdings plc ("Ceres" or the "Company") Development Programme Update Ceres' system integration programme enters key second phase with DunlopAerospace Ceres, the AIM-quoted fuel cell company, is pleased to announce the second keyphase of its system integration programme in participation with Dunlop Aerospaceand other global component suppliers. The £1 million programme will help Ceres move from its initial prototype systemto a cost effective product tailored for its target mass markets in stationarypower generation. Significant financial support and in-kind contributions havebeen secured from the Department of Trade & Industry (DTI) and commercialcollaborators. Chief Executive Peter Bance said: "Now that we have demonstrated world-classperformance from our fuel cells, a priority for 2005 is establishing a supplychain for all the other components for our products ahead of market roll-out.We are delighted that Dunlop has agreed to become an important partner at thisstage in our development." Ceres has established early commercial relationships with several leading energyand engineering groups interested in the potential of its fuel cell. Theyinclude the global industrial gases giant BOC, which is in partnership trialswith Ceres using bottled gas to generate electricity from the Ceres fuel cell. The fuel cells are being developed for applications as diverse as home boilersand stand alone generators to be branded "Powered by Ceres". They are expectedto offer substantial economic and environmental benefits to users around theglobe. The Ceres fuel cells have already undergone rigorous testing prior to theprototype programme now underway, and have been developed for commercialmanufacture using low cost components and mass production techniques. Ceres has been described by Prime Minister Tony Blair as a "world leader", whileEnergy Minister Mike O'Brien said the company is "at the forefront of the raceto make fuel cells a commercially viable technology." For further information contact: Peter Bance, Chief Executive, Ceres Power: +44 (0) 1293 400 404 Allan Piper: First City Financial Public Relations: +44 (0) 20 7436 7486 +44 (0) 7736 064 982 Jag Mundi, Corporate Finance, Numis Securities +44 (0) 207 776 1500 www.cerespower.com Ticker symbol: CWR This information is provided by RNS The company news service from the London Stock Exchange