UK based fuel cell technology developer Ceres Power has signed a collaboration and licensing agreement with South Korean company Doosan, for a Solid Oxide Fuel Cell (SOFC) power system.
Ceres Power is engaged in developing low cost, next-generation fuel cell technology for use in distributed power products to reduce operating costs, lower emissions, increase efficiency and improve energy security.
Ceres said that the government of South Korean has recently announced several initiatives to increase the renewable generation and hydrogen technology, targeting fuel cell manufacture for power generation to reach an output of 15GW by 2040, from 300MW currently.
Ceres Power CEO Phil Caldwell said: “South Korea is a key market for us given their ambition to be a world leader in hydrogen and fuel cells. 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.”
Ceres and Doosan to develop SOFC power systems initially for the Korean market
Under the agreement, Ceres and Doosan are set to jointly develop SOFC distributed power systems initially targeted at the Korean market.
The agreement worth £8m will be for a period of two years and includes licensing, technology transfer and engineering services, subject to fulfillment of key milestones.
Doosan is expected to take a system-level licence of Ceres’ advanced SteelCell SOFC technology to develop a low carbon 5-20kW power system.
In addition, Doosan and Ceres would also jointly explore an expansion of the partnership to access broader applications, along with the potential to include manufacturing within South Korea and across the world.
Doosan said that through its existing fuel cell business, it designs, engineers and manufactures fuel cells for both commercial and industrial applications and is now adding Solid Oxide technology to its existing portfolio of fuel cell technologies.
Doosan Corporation technology strategy executive vice president JH Seo said: “Doosan continues to invest and expand on our leading position in the fuel cell sector. We are delighted to partner with Ceres Power to jointly develop world-leading SOFC systems.”