logo-loader

Ceres Power can add hydrogen electrolysis partner this year, believes Berenberg

Published: 11:36 17 Mar 2022 EDT

Ceres Power Holdings PLC -

This year, 2002, will provide more reasons to be optimistic about Ceres Power Holdings PLC (AIM:CWR, OTC:CPWHF)’s future in the clean energy transition space says broker Berenberg.

“With £250mln  of  cash  on  the balance sheet, Ceres has few capital constraints and there will be a further step-up  in  investment  in  2022,  particularly  into  its  electrolysis  business where  a  1MW-scale  demonstration  unit  will  be  launched  later  this  year.”

There is good commercial interest in Ceres' electrolysis initiatives said Berenberg, which believes it is possible that a partner is signed this year.

Elsewhere, the broker added there has been more good progress strategically in fuel cells over the past few months.

Ceres’s partner Doosan has announced development opportunities in the maritime sector,  the soft launch of a 10kW system using Ceres’s technology (which is scheduled for 2022)  and an  £89mln investment to build an initial 50MW manufacturing plant in Korea.

The company’s recently announced China JV with Bosch and Weichai will also remain in focus, with definitive contracts expected to be signed later this year.

“With the market backdrop for hydrogen increasingly supportive,  we remain conviction buyers,” added the broker which has a 1,560p target price.

ARway.ai announces multiple new SaaS developer contracts in both the United...

ARway.ai (CSE:ARWY, OTCQB:ARWYF) Chief Executive Officer Evan Gappelberg joined Steve Darling from Proactive to announce multiple new SaaS developer sign-ups for its augmented reality experience platform, focusing on AR indoor navigation. These partnerships represent significant milestones in...

2 hours, 5 minutes ago