Shares in Ceres Power climb as extends collaboration with Shell
Ceres Power Holdings PLC on Tuesday said it has been awarded a further contract for the second phase of its collaboration with oil and gas major Shell PLC.
Ceres said it will cooperate in the design of a 10 megawatt solid oxide electrolyser module, for use in large-scale industrial applications such as synthetic fuels, ammonia and green steel. The module will be capable of producing green hydrogen at 36 kilowatt hours per kilogramme.
Shares in Ceres, a Horsham, England-based developer of clean energy technology, were up 3.8% to 226.00 pence each in London on Tuesday morning.
Ceres has been working with Shell since 2022, leading to the deployment of a 1 megawatt SOEC system at Shell’s 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, Ceres said.
The programme will use key learnings and data being harvested from the existing 1 megawatt demonstration project to develop a commercially competitive and scalable solution, Ceres added.
Chief Executive Phil Caldwell said: ‘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.’
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