Ceres Power and Delta Electronics have signed a long-term manufacturing collaboration and licence agreement for solid oxide electrolysis cell and fuel cell (SOEC and SOFC) stack production.
Taiwan-headquartered Delta employs over 80,000 people across around 200 facilities, with a market capitalisation of around $23bn. It has specialised in the mass manufacture of power electronics and data centres for customers including Microsoft.
The agreement includes £43m ($54.6m) of revenue to Ceres through technology transfer, development license fees and engineering services. The UK company expects half of that value to be recognised as 2024 revenue.
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