Ceres Power surges on Centrica partnership and resilient cash position [Yahoo! Finance]
CENTRICA PLC S/ADR (CPYYY)
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Source: Yahoo! Finance
Ceres Power Holdings PLC (LSE:CWR, OTC:CPWHF) shares jumped over 14% after it revealed a new strategic partnership with British Gas owner Centrica PLC (LSE:CNA) and reported full-year results broadly in line with expectations. The hydrogen and fuel cell technology developer said the partnership will combine its solid oxide fuel cell technology – currently able to generate electricity from natural gas and designed to also use other fuels such as biogas and hydrogen in the future – with the British Gas owner's energy supply and trading platform, targeting businesses struggling to secure grid connections fast enough to meet growing power demands. In addition, Centrica is also exploring how Ceres's solid oxide electrolysis technology could integrate with its AMR programme to produce nuclear-enabled green hydrogen in order to strengthen the UK's long-term clean energy strategy. Chris O'Shea, Centrica's chief executive, said businesses "need more power, and they need it faster than t
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