Following successful development of highly efficient 10kw system
Horsham, UK— Ceres Power Holdings plc (“Ceres”, the “Company”) (AIM:CWR), a global leader in fuel cell and electrochemical technology, is pleased to announce that its strategic partner in Korea, Doosan Corporation (“Doosan”), has completed the development of its 10kW solid oxide fuel cell (SOFC) system for buildings and houses.
Doosan Corporation announced today in Korea that it has completed the development of the 10kW SOFC system and is planning a soft launch of the product commercially on a small scale in 2022. The system, using two of Ceres’ 5kW SOFC stacks, has delivered 40% higher power generation efficiency when compared with Doosan’s existing PEM based technology.
The 10kW system is similar in size to existing 5kW SOFC products on the market in Korea, saving 50% on installation space and maintaining the equivalent power generation efficiency. In Korea, the fuel cell market for commercial and residential properties is expanding because of a combination of zero-energy building certification, public institutions’ mandatory renewable energy policy, and the local governments’ mandatory private building renewable energy policy.
Doosan Corporation Fuel Cell Power BU Head Kim Deok-hyeon said, “After internal testing, we can confidently say that the power generation efficiency of this product is among the highest in the world. We will lead the fuel cell market for buildings and houses through our products”.
Phil Caldwell, chief executive of Ceres added: “This is another example of Ceres enabling the energy transition through embedding our unique technology in the products of world-class companies and reinforces our view that Korea will be a leading market for hydrogen and fuel cells.”
This system design was the result of the joint collaboration between Ceres and Doosan that was announced in July 2019. In October 2020, Ceres and Doosan announced a further strategic collaboration and licence agreement with a commitment to build a 50MW facility initially for the mass manufacture under licence of Ceres’ fuel cell stacks in Korea by 2024. Today, Doosan added that since the technology development stage it has secured a domestic supply chain for this 10kW product and has laid the foundations for growth with domestic parts makers.