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Weichai Power joins hands with UK Ceres Power on SOFCs

Updated: 2018-05-17

Weichai Power plans to subscribe the shares of Ceres Power with an investment of over 40 million pounds for a 20 percent stake, according to a strategic cooperation agreement reached by the two sides on May 16.

Ceres Power is a world-leading solid oxide fuel cell (SOFC) supplier based in the UK. As a leader in the new generation of low-cost fuel cells, its specific SteelCell® technology has been researched and developed for nearly 16 years and has about 50 patents. Its products are mainly applied in residences, data centers, commercial power generation and automobiles.

One of the automobile and equipment manufacturing groups with the strongest comprehensive strength in China, Weichai Power has issued its 2020-2030 strategy, which makes it clear that the new energy business is to take a leading role in the world by 2030. Weichai Power will prioritize the SOFCs in its strategic development, and strive to make breakthroughs in the cells, electronic motors and electronic controls for an industrial cluster effect.

The strategic cooperation agreement reached with Ceres Power takes Weichai Power a step further in the transformation from old to new energy. Also, it will help the company build a new energy powertrain system in Shandong province, and provide new energy solutions for domestic commercial vehicle companies.

According to the agreement, Weichai Power and Ceres Power will undertake a joint venture by 2020 to realize the commercialization of SOFC technology in China. Exclusive authorization of SteelCell® technology will then be granted to the joint venture.

Moreover, the two sides will jointly develop the first phase of the CNG-fuelled 30kW SteelCell fuel cells, expected to be completed in the first half of 2019.


(Executive editor: Hao Wen)

 

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