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Pin to quick picksCeres Power Regulatory News (CWR)

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Share Price: 181.80
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Change: -7.40 (-3.91%)
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Trading Update

24 Jan 2023 07:00

RNS Number : 6081N
Ceres Power Holdings plc
24 January 2023
 

CWR.L

 

24 January 2023

 

Ceres Power Holdings plc

 

Trading Update

 

 

2022 investments lay strong foundations for future growth in clean energy solutions

 

Horsham, UK: Ceres Power Holdings plc ("Ceres", the "Company") (AIM: CWR.L), a global leader in fuel cell and electrochemical technology, today provides a post period end trading update ahead of the announcement of its full year results for the year ended 31 December 2022, which will be released on Friday 24 March 2023.

 

Financial

 

· Revenue and other operating income for the year ended 31 December 2022 is in line with previous guidance at approximately £21 million

· Gross margin for the year expected to be around 60%

· Cash and short-term investments were approximately £182 million as at 31 December 2022

 

Current trading and outlook

 

· The structure of the China joint ventures has been agreed. We now await the resolution of a number of commercial points that are being finalised between Bosch and Weichai. Ceres will update the market further on progress as appropriate

· First 100kW electrolyser module is on test ahead of scaling into a 1MW demonstrator. Initial results are positive and give confidence that this technology can deliver green hydrogen at  

· Commercial team significantly expanded in 2022, with the SOEC technology evaluation programme progressing well with Shell for deployment later this year in India, and discussions at an advanced stage with potential new partners  

· Ceres' fuel cell and electrolysis test facility, developed with Horiba Mira at its West Midlands site in the UK, is now open and supporting Ceres' core technology and system development 

 

Phil Caldwell, Chief Executive Officer of Ceres: "These are just some highlights of another year of significant investment for growth at Ceres, despite a challenging macroeconomic backdrop. We remain focused on building a world-leading team and capability in solid oxide fuel cells and electrolysis, and partnering to deliver global deployment of our technologies at scale and pace." 

 

 

Ends

 

 

 

 

For further information visit www.ceres.tech or contact:

 

Ceres Power Holdings plc

Elizabeth Skerritt

 

Tel: +44(0)7932 023 283

 

Investec Bank PLC (NOMAD & Joint Broker)

James Rudd /Patrick Robb /Ben Griffiths

 

 

Tel: +44 (0)207 597 5970

 

Berenberg (Joint Broker)

Ben Wright / Mark Whitmore

 

 

Tel: +44 (0)203 207 7800

 

FTI Consulting (Financial PR)

Dwight Burden / Tom Reynolds

 

 

Tel: +44 (0)203 727 1000

Email: ceres_power@fticonsulting.com

 

 

About Ceres

Ceres is a world-leading developer of electrochemical technologies: fuel cells for power generation, electrolysis for the creation of green hydrogen and energy storage. Its asset-light, licensing model has seen it establish partnerships with some of the world's largest engineering and technology companies, such as Weichai in China, Bosch in Germany, Miura in Japan, and Doosan in Korea, to develop systems and products that address climate change for power generation, transportation, industry, data centres and everyday living. Ceres is listed on the AIM market of the London Stock Exchange ("LSE") (AIM: CWR) and is classified by the LSE Green Economy Mark, which recognises listed companies that derive more than 50% of their activity from the green economy.

 

 

 

 

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Date   Source Headline
23rd Mar 20075:05 pmRNSHolding(s) in Company
7th Mar 20074:11 pmRNSHolding(s) in Company
6th Mar 20071:37 pmRNSNotice of Results
5th Mar 20071:23 pmRNSNew Director Appointment
13th Feb 20078:29 amRNSHolding(s) in Company
31st Jan 20077:01 amRNSTotal Voting Rights
24th Jan 200712:03 pmRNSHolding(s) in Company
16th Jan 20078:39 amRNSHolding(s) in Company
15th Jan 200711:53 amRNSDirector/PDMR Shareholding
28th Dec 20065:18 pmRNSDirector/PDMR Shareholding
22nd Dec 20069:58 amRNSBlocklisting Interim Review
22nd Dec 20068:00 amRNSTotal Voting Rights
11th Dec 20067:00 amRNSHolding(s) in Company
5th Dec 20065:08 pmRNSDirector/PDMR Shareholding
1st Dec 20067:01 amRNSTrading Statement
24th Nov 20063:46 pmRNSResult of Meeting
24th Oct 20064:18 pmRNSAnnual Report and Accounts
13th Oct 200610:20 amRNSHolding(s) in Company
11th Oct 200610:34 amRNSHolding(s) in Company
10th Oct 20062:47 pmRNSHolding(s) in Company
2nd Oct 20063:02 pmRNSHolding(s) in Company
27th Sep 20069:09 amRNSDirector/PDMR Shareholding
26th Sep 200610:17 amRNSShare Purchase
25th Sep 20067:13 amRNSNew Product Facility
25th Sep 20067:02 amRNSFinal Results
18th Sep 20064:07 pmRNSBlocklisting Interim Review
7th Sep 20067:02 amRNSManufacturing scale-up award
4th Sep 20068:00 amRNSNotice of Results
1st Sep 20067:00 amRNSDirectorate Change
10th Aug 20067:00 amRNSChange of Adviser
4th Aug 200612:23 pmRNSHolding(s) in Company
14th Jul 20067:00 amRNSIndustry Partnership
3rd Jul 20067:00 amRNSContract with BOC
22nd Jun 20067:00 amRNSBlocklisting Interim Review
25th May 20067:01 amRNSCentrica CHP programme update
4th May 20063:10 pmRNSHolding(s) in Company
13th Apr 20064:01 pmRNSDirector/PDMR Shareholding
6th Apr 20064:15 pmRNSHolding(s) in Company
5th Apr 20062:35 pmRNSHolding(s) in Company
28th Mar 20068:48 amRNSGrant of Options
22nd Mar 20063:40 pmRNSHolding(s) in Company
20th Mar 20067:02 amRNSCentrica CHP programme
20th Mar 20067:01 amRNSInterim Results
17th Mar 20069:30 amRNSBlocklisting Interim Review
13th Mar 20067:01 amRNSKey Technical Milestone
10th Mar 20063:41 pmRNSNotice of Results
6th Mar 20064:45 pmRNSHolding(s) in Company
21st Feb 200610:26 amRNSHolding(s) in Company
15th Feb 20065:34 pmRNSHolding(s) in Company
27th Jan 20062:59 pmRNSHolding(s) in Company

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