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IP portfolio company Ceres inks OEM deal

19 December 2016 07:59

IP Group portfolio company Ceres Power Holdings has signed a joint development licence agreement to develop and launch a multi-kW combined heat and power product using its SteelCell technology with a leading global original equipment manufacturer.

Ceres Power, a leading developer of low cost, next generation fuel cell technology, confirmed that it will transfer its system technology under a non-exclusive licence to its OEM partner to enable the development and new product launch of a multi-kW CHP product for use in stationary power applications.

This follows successful evaluation of the technology by the OEM at its facilities under the Evaluation Agreement which was announced on the 2nd February 2016.

IP Group holds a 25.6% stake in Ceres Power.

Story provided by StockMarketWire.com

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