Ceres Power (CWR) AGM 2026 presentation summary

Strategic priorities

• Signed new manufacturing licensees and accelerated partner market entry, focusing on a single stack technology platform.

• Transitioned business structure to support commercial growth and deliver 20% operating cost savings in 2026.

• Maintained a strong cash position of £83.3m at period end.

Global partnerships and market expansion

• Weichai in China signed a manufacturing license; Doosan in South Korea began SOFC stack production and generated first royalties.

• Delta in Taiwan invested in SOFC and electrolysis production, aiming for first output by end of 2026.

• DENSO and JERA in Japan started SOEC testing, unlocking ~£165m in government funding.

• Shell in India’s megawatt-scale electrolysis system exceeded performance expectations; Thermax advanced a new SOEC pilot.

Technology and product platform

• Launched Ceres® Endura™, a scalable, cost-efficient, and durable power platform.

• Single stack technology platform supports global factories and partnerships.

• SOFC system architecture enables high CO₂ capture and integration with various industrial applications.