Ceres inks EUR 50m deal to licence H2 tech to Delta Electronics

UK fuel cell firm Ceres Power Holdings plc (LON:CWR) has signed a long-term manufacturing collaboration and licence agreement with Delta Electronics Inc (TPE:2308) that will allow the Taiwanese electronics manufacturer to offer clean hydrogen solutions for its customers utilising Ceres’ technologies.

The agreement encompasses both Ceres’ solid oxide electrolysis cell (SOEC) and solid oxide fuel cell (SOFC) stack production. The systems will be integrated into Delta’s own technologies to enhance its green solutions for various sectors, such as chemicals, energy, transportation, steel and more.

The agreed partnership will result in GBP 43 million (USD 54.5m/EUR 50.1m) in revenue to Ceres through technology transfer, development license fees and engineering services. It also provides for potential additional revenue from the sale of Ceres development stacks to Delta, as well as royalty payments on future commercial production and sale to end customers by Delta.

Technology introduction and factory construction are set to start this year, with Delta expected to begin initial production by the end of 2026, the parties announced on Thursday.

Delta specialises in power and thermal management, as well as in IoT-based smart green solutions. It has sales offices, R&D centres and manufacturing facilities spread over close to 200 locations across five continents.

In addition to licensing key energy stack technologies, the Taiwanese firm intends to set up a “Net-zero Science Laboratory” at its Tainan manufacturing complex to develop zero-carbon technologies, including hydrogen energy, among other related initiatives, it said in a statement.

(GBP 1 = USD 1.267/EUR 1.165)

Choose your newsletter by Renewables Now. Join for free!