Energy Minister praises Ceres Power in fuel cell commercialisation race

UK Energy Minister Mike O’Brien described Ceres as being at the forefront in the race to make fuel cells commercially viable.

Ceres Power  is one of Imperial's most successful spin-out companies, a high growth product development company founded to commercially exploit revolutionary fuel cell technology.

Steve O'Dea and Bruce Girvan were MBA students at Tanaka seeking a real-world technology as a subject for their MBA project.  Emeritus Professor Brian Steele, former head of the Materials Department at Imperial, was a scientist with a concept but without the time or resource to bring his produce to market. Their partnership led to the formation of Ceres Power where Steve is now the operations manager and Bruce the technical marketing manager.

UK Energy Minister Mike O'Brien was speaking to mark the expansion of the product development and test facility at Ceres' HQ in Crawley, Sussex. It is the latest step in the growth of a company recently described by Prime Minister Tony Blair as a "world leader".

Mr O'Brien said: "The Prime Minister, in his recent speech on climate change, emphasised the need to develop technologies to counter the significant threat posed by our reliance on fossil fuels. Ceres Power is a prime example of what is required.

"New technologies such as fuel cells have often been viewed as pipedreams but today, Ceres is demonstrating here in Crawley that this isn't the case. Ceres is at the forefront in the race to make fuel cells a commercially viable technology which has the potential to help address the problem of climate change, alongside forms of renewable technology."

Ceres Power Chief Executive Peter Bance also told guests, including senior representatives of the private and public sectors: "Unlike most other fuel cells, Ceres' technology does not need hydrogen as a feed gas, although it can use it when it becomes available. Instead, we plan to use the existing energy supply infrastructure for fuels like natural gas or LPG to produce clean, silent electrical power and heat in a wide range of applications. "

Ceres Power is a successful spin-out from Imperial College that has secured around £10 million from major financial institutions, and significant government support, to commercialise its revolutionary technology. Critically, Ceres' unique design approach uses low cost materials and existing mass production techniques.

Potential uses for Ceres' fuel cells include residential heat and power units, back-up generators, and devices for powering telecoms base stations, construction sites and other off-grid locations.

Pre-commercial trials are now underway with a number of strategic partners.

For further information contact:

Peter Bance, Chief Executive, Ceres Power Ltd:  +44 (0) 1293 400 404
Allan Piper: First City Financial Public Relations:  +44 (0) 20 7436 7486 / +44 (0) 7736 064 982

Ceres Power was recently described by UK Prime Minister Tony Blair during his climate change speech as a "world leader". The company received major recognition when it became the 2003 winner of the prestigious Carbon Trust Low Carbon Innovation Award.

Ceres is targeting a range of global applications including residential heat and power units, back-up generators, and devices for powering telecoms base stations, construction sites and other off-grid locations. Their revolutionary technology critically uses low cost materials and existing mass production techniques.

Since 2001, Ceres Power has raised around £10 million in two rounds of private-equity funding from backers including The Carbon Trust, funds managed by Fleming Family and Partners, RAB, Nikko, and Chicago Environmental, among others.