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15 Jul 2019 | 14:26

Ceres Power inks licencing agreement in Korea with Doosan

Ceres Power said it had signed a collaboration and licensing agreement with Doosan for the Korean market.

The companies would work together to develop a solid oxide fuel cell power system, for the commercial building market.

Ceres said the agreement was worth £8m to the company over two years.

'South Korea is a key market for us given their ambition to be a world leader in hydrogen and fuel cells,' chief executive Phil Caldwell said.

'Doosan have clearly established themselves as the leader in this sector and are the ideal partner for us to enter into the Korean market, adding to our strategic partnerships with Weichai in China and Bosch.'

At 2:26pm: (LON:CWR) Ceres Power Holdings PLC share price was +6.75p at 182.25p

Story provided by StockMarketWire.com
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