{"id":151677,"date":"2020-10-19T14:51:42","date_gmt":"2020-10-19T14:51:42","guid":{"rendered":"https:\/\/www.bnreport.com\/ceres-power-inks-fuel-cell-manufacturing-deal-with-doosan\/"},"modified":"2020-10-19T14:51:42","modified_gmt":"2020-10-19T14:51:42","slug":"ceres-power-inks-fuel-cell-manufacturing-deal-with-doosan","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/ceres-power-inks-fuel-cell-manufacturing-deal-with-doosan\/","title":{"rendered":"Ceres Power inks fuel cell manufacturing deal with Doosan"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.proactiveinvestors.co.uk\/thumbs\/upload\/News\/Image\/2020_10\/1200z630_1603090701_2020-10-19-07-58-21_5b9c4be40bc3bdeca581c1b90631a074.jpg\" \/><\/p>\n<p><a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:CWR\/Ceres-Power-Holdings-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">Ceres Power Holdings PLC<\/a> (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:CWR\/Ceres-Power-Holdings-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:CWR<\/a>) has agreed an expanded collaboration with South Korean group Doosan, which has been given the licence to manufacture the UK company&#039;s proprietary solid oxide fuel cell stacks.<\/p>\n<p>Doosan plans to build a manufacturing facility with an initial 50MW capacity by 2024, making it Ceres&#039;s third global manufacturing partner alongside Bosch and Weichai.<\/p>\n<p>The Doosan deal is worth \u00a336mln to Ceres over three years, plus a further \u00a37mln potentially due subject to key performance indicators (KPIs). This income precedes longer term royalties on the sale of fuel cell stacks.<\/p>\n<h4><a href=\"https:\/\/www.proactiveinvestors.co.uk\/companies\/news\/930075\/ceres-power-says-trading-remains-strong-930075.html\" rel=\"noreferrer noopener\" target=\"_blank\">READ: Ceres says trading remains strong<\/a>[hhmc]<br \/>\n<\/h4>\n<p>\u201cWe are absolutely delighted to welcome Doosan as a strategic manufacturing partner and to broaden our relationship to target utility-scale systems. Doosan has an enviable track record in commercialising fuel cell technology,\u201d said Phil Caldwell, Ceres chief executive in a statement.<\/p>\n<p>\u201cOur success is measured by our partners&#039; success and this is further validation of our asset-light, licensing business model that enables the world&#039;s most progressive companies to adopt our technology at scale and speed.&quot;<\/p>\n<p>Hyunsoo Dong, Doosan Corporation vice-chair added: \u201cBy partnering with Ceres Power, Doosan will expand its product portfolio and strengthen its position as the leader in the fuel cell industry.<\/p>\n<p>\u201cWe are excited to expand on our existing collaboration to build a world-leading SOFC stack mass manufacturing centre and to create a strong fuel cell industry ecosystem in <a href=\"https:\/\/www.proactiveinvestors.co.uk\/companies\/news\/931745\/ceres-power-inks-fuel-cell-manufacturing-deal-with-doosan-931745.html\" rel=\"noreferrer noopener\" target=\"_blank\">Read More \u2013 Source<\/a><br \/>\n[contf]<br \/>\n[contfnew]<br \/>\n        <img decoding=\"async\" src=\"https:\/\/webfiles.thecse.com\/PRO_LOGO_P_COLOUR.png?sYToe11NLbcXiyGkVa5syF9WB04cy98G\" \/><\/p>\n<h5><a href=\"https:\/\/www.proactiveinvestors.co.uk\/\" rel=\"noreferrer noopener\" target=\"_blank\">Proactiveinvestors<\/a><\/h5>\n<p>[contfnewc]<br \/>\n[contfnewc]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ceres Power Holdings PLC (LON:CWR) has agreed an expanded collaboration with South Korean group Doos..<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46],"tags":[],"class_list":["post-151677","post","type-post","status-publish","format-standard","hentry","category-politics"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - 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