Ceres Power reiterates £45 million revenue guidance

Ceres Power has released its quarterly earnings results, reiterating its contracted revenue guidance of £45 million for the fiscal year. The company reported that its partner pipeline is expanding across the United States, Asia, and Europe.

Key developments include progress from existing partners: Doosan secured a roughly £60 million export order, Delta is developing a second facility in Taiwan, and Weichai is targeting initial production with an ambition of 200 megawatts. Much of the recent licensing revenue was driven by an agreement with the Chinese partner Weichai.

While near-term revenue is primarily driven by license fees and engineering services, the company expects royalties to become more significant as partners reach larger-scale production toward the end of the decade. Management noted that while they aim to sign at least one new manufacturing licensee this year, the timing of such signings can be unpredictable.