Ceres Power, a developer of low-cost, next-generation fuel cell technology and Doosan Corporation will jointly develop solid oxide fuel cell (SOFC) distributed power systems initially targeted at the Korean commercial building market.
South Korea is a leading fuel cell market and has been a core target market for Ceres. South Korea benefits from a supportive regulatory regime and ambitious long-term targets. The South Korean government recently announced several initiatives to promote increased use of renewable generation and hydrogen technology and is targeting fuel cell manufacture for power generation to reach an output of 15 GW by 2040, up from 300 MW today.
Doosan has established itself as a leader in the fuel cell industry and is now adding Solid Oxide technology to its existing portfolio of fuel cell technologies. Doosan’s existing stationary fuel cell business exceeded 1 trillion won (c. $850 million) in orders for the first time in 2018, three years after entering the market.
The £8-million (US$10-million) agreement is over two years and includes licencing, technology transfer and engineering services (subject to attainment of key milestones). Doosan will take a system-level licence of Ceres’ proprietary SteelCell SOFC technology to develop a low carbon 5-20kW power system.
Doosan and Ceres will also explore an expansion of the collaboration to access broader applications within South Korea and internationally as well as the potential to include manufacturing.