Record-Breaking Year
Ceres reported a record year in terms of revenue, order intake, and gross margin. Revenue was GBP51.9 million with gross profit over GBP40 million and order intake exceeding GBP110 million.
Strong Licensing Model
The company reported significant progress with licensing agreements, specifically with Denso and Delta, which are expected to yield substantial revenue and future royalties.
Solid Financial Position
Ceres ended the year with a cash position exceeding GBP100 million, supporting future growth and reducing cash burn through restructuring efforts.
Strategic Partnerships and Global Expansion
Ceres expanded its global footprint with key partnerships in Asia, including Doosan in South Korea, Delta in Taiwan, and Denso in Japan, supporting both power and hydrogen generation sectors.
Technological Leadership
Ceres maintains a leadership position in solid oxide technology, with ongoing improvements in digitalization, modeling, and system development.