Ceres Power Holdings, a prominent UK developer of clean energy technology, and Delta Electronics, a global specialist in power and thermal management solutions, have signed a global long-term manufacturing collaboration and licence agreement for both solid oxide electrolysis cell (SOEC) and solid oxide fuel cell (SOFC) stack production.
The agreement includes revenue of £43 million to Ceres through technology transfer, development license fees, and engineering services, of which approximately half is expected to be recognised as revenue in 2024. There is potential for additional revenue from the sale of Ceres development stacks to Delta. The agreement also includes royalty payments to Ceres on future commercial production and sale to end customers by Delta.
Technology introduction and factory construction is slated to start during 2024 and the initial production by Delta is expected to start by the end of 2026.
Phil Caldwell, CEO of Ceres commented, “It’s great to announce a new partnership today with Delta, a company with worldwide expertise in mass manufacturing, power electronics and system integration. We believe Delta can deliver efficient clean hydrogen solutions for its customers utilising both our SOFC and SOEC technologies. Green hydrogen has a key role to play in delivering a more secure and sustainable future energy system and today we take this first step towards what promises to be a strong collaboration with Delta to accelerate the industry globally.”
Image courtesy of Ceres
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