TOKYO: Ceres Power, the developer of SteelCell®, a world-leading, low cost Solid Oxide Fuel Cell (SOFC) technology, and Miura Co., Ltd, Japan’s leading industrial boiler manufacturer, announced a first fuel cell product launch using Ceres technology. [the_ad id=”31605″]This new fuel cell system is a 4.2kW combined heat and power unit (CHP) targeting the commercial building sector in Japan. The units will provide both clean energy and hot water to commercial buildings, in a highly efficient and low carbon manner. Japan is one of the most advanced markets in the world for fuel cells and a key target market for Ceres. The joint statement with Miura is included below.
The product launch is the culmination of a collaboration between Ceres and Miura first announced as an unnamed partner on 19 December 2016. It follows a successful joint development programme based on Ceres’ SteelCell® SOFC technology. Field trials in Japan are underway with first commercial launch expected with a select number of customers from October 2019. Volumes are expected to grow thereafter.
This first market-ready product launch is fully in line with Ceres Power’s strategy, and delivers against all the target milestones announced in 2016, from initial technology transfer, to product development and now product launch.
The launch highlights the core elements of Ceres’ business model, focused on multi-year development partnerships with global OEMs, to jointly develop products using Ceres Power’s technology. Ceres receives license fees for the initial use of the system technology (“technology transfer”), engineering fees during product development and royalties upon commercialisation. In addition to its work in Japan with Miura, Ceres also has significant partnerships with Bosch and Weichai and expects to be able to announce further commercial progress in due course.
Phil Caldwell, CEO of Ceres Power said: “This product launch with Miura, a first for Ceres, is another important commercial milestone and continues our track record of successfully working with leading Japanese companies. Japan is an exciting market for the SteelCell®, where awareness of the advantages of full cell technology is high. The Japanese government has a clear hydrogen strategy and fully recognises the important role of fuel cells in the vision for realising a low carbon future.”