Ceres Power Holdings PLC - Horsham, West Sussex-based solid oxide fuel cell developer - Signs deal with Shell PLC to deliver a megawatt scale solid oxide electrolyser demonstrator in 2023. Ceres says the partnership will utilise SOEC technology to produce high-efficiency, low-cost green hydrogen for industrial decarbonisation at the scale and pace needed to reach net zero.
Shell Executive Vice President Technology Yuri Sebregts comments: ‘Hydrogen features heavily in that strategy. Ceres, with their differentiating SOEC technology, have the potential to produce Hydrogen at an optimum cost and efficiency profile. The pilot and collaboration with Ceres are a step forward in maturing this promising technology towards industrial scale.’
Ceres has committed £100 million for the development of SOEC technology. It says the deal with Shell aligns with its business strategy and offers a pathway to the commercialisation and development of new markets.
Shell is targeting to become a net-zero emissions business by 2050.
Current stock price: up 2.6% at 587.81 pence on Tuesday
12-month change: down 46%
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