Ceres Power Expands into Indian Market with Thermax Partnership

Ceres Power Holdings (GB:CWR) has released an update.

Ceres Power Holdings plc, a leader in clean energy technology, has inked a deal with India’s Thermax Limited to license its solid oxide electrolysis cell (SOEC) systems, marking Ceres’ entry into the burgeoning Indian market. This partnership is set to fast-track the development of green hydrogen solutions in the hard-to-abate sectors like steel and chemicals, with Thermax manufacturing and selling the systems. The collaboration anticipates leveraging Thermax’s heat integration expertise and Ceres’ advanced technology to cater to India’s green hydrogen production target of 5 million tonnes by 2030.

For further insights into GB:CWR stock, check out TipRanks’ Stock Analysis page.