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Ceres Power revenues ahead of forecasts

By BFN News | 07:32 AM | Tuesday 13 June, 2017

Ceres Power Holdings expects full year total income to more than double to around £4m in the year ending 30 June from £1.67m last time. It said revenues were ahead of expectations and being driven by continued success in winning new development partner agreements and signing follow-on agreements and the group was on track to sign its fifth development partner during 2017. Chief executive Phil Caldwell said: "I am delighted with the commercial progress we have made. "I am confident we will meet our stated objective and sign a fifth development partner this year and a second go-to-market customer before the end of 2018. "Our ability to generate revenues by winning new partners and also grow our existing business with some of the leading players in the market shows we have established ourselves now as a truly international business. "We are extremely confident in the future. We will invest further in our people, technology and capacity to ensure we can continue to meet our partner's requirements." Story provided by

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