Ceres Power Technologies boosted by strong orders

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Ceres Power Technologies boosted by strong orders
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AIM-listed fuel cell technology outfit Ceres Power Technologies (LON:CWR) has seen its share price climb by 2.48% to 199.82p (as of 11:40 BST) after the company’s revenues for the year ended 30th June rose by 71% to £7 million. New deals, including strategic partnerships with Bosch and Weichai Power, have grown the order book from £3 million to £30 million at the end of the period.

However, EBITDA losses widened slightly to £10.8 million as investment in growth and higher power applications was ramped up. Despite this, chief executive Phil Caldwell said: “2018 is a landmark year for Ceres. We have seen a big step change in order book and strong revenue growth as demand accelerates for technologies that can enable a post-combustion future“.

 

 

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