15th Sep 2021 17:53
Ceres Power Holdings PLC - Horsham-based fuel cell and electrochemical technology maker - Says it has been successful in two separate ship emission projects that have been awarded funding as part of the Clean Maritime Demonstration Competition, run by the UK Department for Transport.
Notes UK Transport Secretary Grant Shapps announces that a total of GBP23 million will be invested in 55 winning projects to accelerate development, design and manufacture of zero-emission vessels in British shipyards by 2025. The two projects in which Ceres is involved will evaluate the most effective means to integrate Ceres' solid oxide fuel cell technology in megawatt class cruise ship applications, to reduce carbon emissions in the marine sector.
Chief Executive Officer Phil Caldwell says: "Solid oxide fuel cells are one of the most promising clean energy technologies to support the decarbonisation of an industry that today accounts for over 2% of global greenhouse gas emissions. We are pleased to be partnering with world-class companies as part of the Clean Maritime Demonstration Competition and to see the UK taking a leading role in the decarbonisation of the global shipping industry."
Current stock price: 1,161.00 pence
Year-to-date change: down 11%
By Arvind Bhunjun; [email protected]
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