German auto components supplier Bosch is increasing its equity stake in technology specialist Ceres Power from 4% to 18%.
Ceres said this is a significant strategic step forward in the partnership, which was established in August 2018 and follows successful collaboration on technology development and manufacturing in both the UK and Germany.
Since signing a strategic agreement in August 2018, Ceres and Bosch have been successfully collaborating in the development of fuel cell stacks for stationary power applications.
This has enabled Bosch to start initial low-volume production of pilot systems in late 2019 in Bamberg, Germany.
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