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20 March 2006 - Ceres Power, the AIM-quoted fuel cell group, today announces its entry into a £2.7m ($4.74m) contract with Centrica (trading as British Gas), part funded by the DTI, to develop Combined Heat and Power (CHP) units for the UK residential market.
The programme will design, build and evaluate fuel cell CHP units, delivering electricity, heating and hot water, aiming to substantially reducing both energy bills and CO2 emissions.
Today's announcement closely follows the Company's recent achievement of a major technical milestone: the successful delivery of a production-engineered 1kW fuel cell stack generating sufficient power for the average home. The
Ceres Stack is the fundamental building block of micropower generation products aimed at a variety of consumer and commercial uses.
Under today's contract, Ceres will work closely with British Gas to accelerate the introduction of its fuel cells into UK homes.
The UK Government is strongly supportive of micropower generation, which represents a shift to the production of energy at the point of use rather than centralized generation, to help the country improve its energy security, meet its environmental obligations and deliver energy savings to consumers. Micropower products have the potential to supply over one third of Britain's total electricity needs.
Peter Bance, CEO of Ceres Power, comments: "We are delighted to make this important announcement as it marks the transition of our partnership with British Gas to a commercial programme to deliver fuel cell products to the mass market. Ceres technology will enable up to two-thirds of UK households to use highly efficient and environmentally-friendly CHP appliances in their homes."
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