Bosch is counting on English fuel cells
Robert Bosch GmbH is increasing its share of Ceres Power to about 18%. The English company is specialized in the next generation of solid oxide fuel cell technology (SOFC).20 Feb 2020 Barbara Rusch
Since 2018, Bosch has been cooperating with Ceres Power , from Horsham in south-east England, in developing fuel cell stacks for stationary use. This means that the German technology company can get started with production of small batches of the first fuel cell systems in Germany in fall of 2019. Bosch increased its shares in Ceres Power from 3.9 to about 18% at the end of January, both companies have confirmed . To this end, Bosch subscribed to new shares from Ceres Power and also acquired shares from existing shareholders. Bosch invested a total of around 90 million euros. The transaction entitles Bosch, the Stuttgart-based company, to appoint a member to Ceres Power’s board of directors.
The increase in shares took place with sights on the possible industrial mass production of Ceres SteelCell®. The technology can be used in small, decentralized power plants in cities, factories and data centers, as well as in charging stations for electric cars.
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