Ceres Power has announced that Version 4 of its proprietary Steel Cell technology has been successfully released to customers. The significant increase in power density and reduction in the time taken to start-up has extended the potential application from just the residential sector to electric vehicle power trains and distributed power for datacentres and commercial properties. It underpins engagement with blue-chips British Gas, Cummins, Honda and Nissan and our estimates, which we leave unchanged except to reflect the dilutive impact of the September placing.
