29th Jan 2025 11:05
Ceres Power Holdings PLC - Horsham, England-based clean energy technology developer - Hails "record order intake" in 2024, topping GBP110 million, after the signing of two new manufacturing partners and an electrolyser system partner. It predicts revenue at the upper end of previous guidance of GBP55 million to GBP60 million, a sharp jump from GBP22.3 million in 2023. A gross margin between 78% to 80% is expected, surging from 61% in 2023.
Chief Executive Officer Phil Caldwell says: "2024 was an exciting year for Ceres as we accelerated our commercial delivery with two new major manufacturing licensees and continue to establish Ceres as the industry standard through the adoption of our technology globally. Alongside our first electrolyser partnerships, we now see increased opportunities for our power technology resulting from the rising energy demand from AI data centres and the strain on power grids from increased electrification."
Current stock price: 142.04 pence each, up 1.7% on Wednesday morning in London
12-month change: down 33%
By Tom Budszus, Alliance News slot editor
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