12th Feb 2014 12:15
LONDON (Alliance News) - Ceres Power Holdings PLC Wednesday announced a second evaluation agreement with a Japanese original equipment manufacturer, which it didn't name, and the opening of a company office in Japan.
The fuel-cell technology company said it signed the evaluation agreement to cover further testing of its unique steel cell technology at one kilowatt level at the OEM partner's site in Japan.
The company said that trialling of the technology is already underway in Japan with another OEM partner, and Ceres will be opening an office in the Kansai region of Japan in April.
Ceres said its office will service new commercial activity and further strategic opportunities in Asia.
"Japan is a key market for Ceres as it is recognised as the leader in commercialisation of fuel cell technology with an estimated 50,000 residential micro-CHP units sold domestically there in 2013," Chief Executive Phil Caldwell said in a statement.
Ceres Power Holdings shares were up 0.1% to 7.26 pence Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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