Ceres Power secures deal with Japanese power systems company

Energy products developer Ceres Power has signed a next stage Joint Development Agreement with a Japanese power systems company.

The group said the deal, signed after a period of extensive testing in Japan and in the UK, will combine the companies' research, engineering and development expertise to deliver a jointly developed Steel Cell SOFC stack using Ceres Steel Cell technology.

The stacks will be supplied from Ceres' manufacturing facility in the UK and the systems will then be tested in Japan, Ceres said, adding both firms would explore potential business opportunities for generators and residential applications.

On Wednesday, Ceres shares closed down 7.46% to 7.75p.