Ceres Power Holdings plc has now finalized all agreements to begin its new relationship with Nissan Motor Manufacturing (UK) Ltd and M-Solv, as part of the funding arrangement from Innovate UK and The Office for Low Emission Vehicles (OLEV) as previously announced on 22 March 2016.
Ceres Power is the leader of this consortium, with Nissan and M-Solv, aimed at developing a compact, on-board solid oxide fuel cell (SOFC) stack for range extension of electric vehicles. The SOFC stack is based on Ceres Power's unique SteelCell technology, which is able to work with a variety of high efficiency fuel types (including biofuels) applicable to the automotive sector. This offers a potential path to significantly accelerate the take up of electric vehicles, reducing CO2 and other emissions, and making significant progress towards the UK's low carbon energy targets.
Phil Caldwell, Ceres Power's Chief Executive Officer said: "We are delighted to be working with Nissan and M-Solv to enable an all-electric vehicle with a longer range and shorter refuelling time and to help cut vehicle emissions globally. In addition, this project broadens the applications for Ceres Power's SteelCell into the automotive industry as well using alternative fuels such as biofuels."