Bosch takes stake in fuel-cell group Ceres Power
Reuters
Published Aug 21, 2018 08:35
Bosch takes stake in fuel-cell group Ceres Power
FRANKFURT (Reuters) - German automotive supplier Bosch on Tuesday said it would take a 4 percent stake in Britain's Ceres Power Holdings (L:CWR), to jointly develop the next generation of solid oxide fuel cells (SOFC).
The stake, worth 7.7 million pounds ($9.82 million) based on Monday's closing, will make Bosch one of the group's top 10 shareholders, alongside Weichai Power (SZ:000338), which also holds a 45 percent stake in German forklift maker Kion (DE:KGX).
"Bosch believes that the highly efficient fuel cell, with its very low emissions, has an important role to play in energy systems' security of supply and flexibility," Bosch board member Stefan Hartung said in a statement.
Small SOFC modules could be used to satisfy growing electricity demand in metropolitan areas, Bosch said, adding it was unlikely that large power stations alone would be able to meet higher consumption.
Bosch said that the aim was to build SOFC modules that are able to generate 10 kilowatt of electricity. Nuclear power stations usually have a capacity of about 1 gigawatt.
($1 = 0.7841 pounds)
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.