RCS - Ceres Power Holdings - Ceres signs contract with Shell for green hydrogen

Ceres Power HoldingsAnnouncement

04/06/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240604:nRSD9295Qa&default-theme=true

RNS Number : 9295Q  Ceres Power Holdings plc  04 June 2024

4 June 2024

 

 

 

 

 

Ceres Power Holdings plc

("Ceres", the "Company")

 

Ceres signs contract with Shell for green hydrogen

 

 

·    Contract to design a 10MW pressurised solid oxide electrolyser
("SOEC") module to produce green hydrogen at 36kWh/kg

·    Builds on the data being generated from the existing demonstration of
Ceres' technology at Shell's R&D facility in Bangalore, India

·    Develops pathways for the commercialisation of SOEC technology for
large-scale industrial applications

 

Horsham, UK: Ceres Power Holdings plc (CWR.L), a leading developer of clean
energy technology has been awarded a further contract for the second phase of
its collaboration with Shell, to cooperate in the design of a solid oxide
electrolyser ("SOEC") module, for use in large-scale industrial applications
such as synthetic fuels, ammonia and green steel.

 

Ceres has been working with Shell since 2022, leading to the deployment of a
1MW SOEC system at Shell's R&D facility in Bangalore, India. Building on
this demonstration, the focus of this contract is to develop a pressurised
module design that can be scaled to 100s of megawatts and be integrated with
industrial plants to produce sustainable future fuels.

 

The programme will use key learnings and data being harvested from the
existing 1MW demonstration project to develop a commercially competitive and
scalable solution.

 

Key to this is the significant efficiency gains offered by SOEC technology,
which results in approximately 35% more hydrogen produced per unit of
electrical energy when coupled with heat from industrial processes. The
project will examine pressurised systems that can drive further efficiency,
performance, and integration with other processes, targeting a module level
efficiency of less than 36kWh/kg of hydrogen, which aligns to EU SOE 2030
technology targets
(https://www.clean-hydrogen.europa.eu/document/download/29a7bd1b-5c19-4202-8fd2-dbfad804c6bf_en?filename=MAWP%20final%20version_endorsed%20GB%2015062018%20%28ID%203712421%29.pdf)
.(1)

 

 

Phil Caldwell, Chief Executive of Ceres commented, "Our strategic
collaboration with Shell continues to provide valuable insights, ensuring
Ceres' SOEC technology is well positioned to meet our partners' needs for the
green hydrogen and synthetic fuels markets. Building on Ceres' class-leading
technology, our commitment to continuous innovation keeps Ceres' commercial
offering at the forefront of the industry in terms of simplicity, efficiency,
and performance."

 

 

Ends

 

 

Enquiries:

Ceres: Elizabeth Skerritt (Director of Investor Relations), +44(0)7932 023 283

FTI Consulting (PR Adviser):  Dwight Burden / Ben Brewerton, +44 (0)203 727
1000

 

About Ceres

Ceres is a leading developer of clean energy technology, electrolysis for the
creation of green hydrogen and fuel cells for power generation. Its
asset-light, licensing model has seen it establish partnerships with some of
the world's largest companies, such as Bosch, Doosan, Shell and Weichai.
Ceres' solid oxide platform technology supports greater electrification of our
energy systems and produces green hydrogen at high-efficiencies as a route to
decarbonise emissions-intensive industries such as steelmaking, ammonia, and
future fuels. Ceres is listed on the London Stock Exchange ("LSE") (LSE:
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.
To learn more, see the website www.ceres.tech (http://www.ceres.tech/) or
follow Ceres on LinkedIN (https://www.linkedin.com/company/ceres-power) .

 

(1) Clean Hydrogen Partnership, Strategic Research and Innovation 2021-2027,
Accessed via the website link
https://www.clean-hydrogen.europa.eu/about-us/key-documents/strategic-research-and-innovation-agenda_en
(https://www.clean-hydrogen.europa.eu/about-us/key-documents/strategic-research-and-innovation-agenda_en)
.

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAFJMFTMTMMBTI