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Ceres Power signs fifth joint development agreement
Specialist fuel cell company Ceres Power on Wednesday said it had signed a new joint development agreement with an unnamed European original equipment manufacturer.
Ceres said the two firms would work together to develop prototype multi-kilowatt power systems for several potential applications.
This strategic relationship, the fifth agreement Ceres has signed in less than two years, is the first step in considering a potential collaboration which could include joint system development, solid oxide fuel cell stack development and manufacturing.
"We set ourselves the target of securing five major development partners within two years and we've now achieved that by signing an agreement with another global player," said Ceres chief executive Phil Caldwell.
"We are continuing to attract some of the biggest names in the power systems and energy sectors, an endorsement not just of our technology and engineering expertise, but also of the significant potential of the SteelCell."
"Awareness in the technology, and Ceres' leading position is growing fast. This latest agreement sets us up for a strong 2018 as we continue to add new partners and progress existing relationships towards the commercialisation of our technology with the world's best companies."