“… the Company has continued to explore
various strategic options and these discussions are on-going. In the event, the
Company is not able to progress any proposals to a successful conclusion, it
will as previously announced commence an orderly wind down of the business.”
The company had previously announced the commissioning of an independent assessment of its fuel cell technology by a respected expert. An executive summary of the assessment,
published in September 2012, concluded that:
“Ceres Power SOFC technology is
highly differentiated and has the potential for cost leadership in mass
manufacturing of cells and stacks, with performance and durability meeting the
requirements of volume applications such as residential CHP. The Company has
intellectual property rights and trade secrets which provide considerable
protection against emergence of competition.”
and that:
“Patents and know-how covering laser
drilled foil substrate, cell configuration, stack design, manufacturing
procedures and conditions provide significant protection against competition.”
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