Ceres Power aims to speed up the commercialisation of its fuel-cell technology by floating on the stock exchange.
The company, which recently opened UK fuel-cell production facilities (See Electrical Review, October), hopes to raise up to £15m by listing on London’s Alternative Investment Market.
Dr Peter Bance, head of Ceres Power, says low-cost high-performance materials and mass-manufacturing techniques will make the company’s fuel cell competitive with traditional forms of generation.
The technology has its roots in Imperial College, where experiments with a ceramic-coated steel substrate took place over a decade. The current project is funded by the government, manufacturing partners and private capital and has attracted over £10m in investment.