Ceres Power reported a much-needed upswing in revenue throughout 2023 after years of struggling to retain contracts. Revenue for the fuel cell and hydrogen technology specialist increased from £19.8m to £22.3m, while gross profit jumped from £10.7m to £13.6m, the company's 2023 results revealed. All three sources of revenue for the company increased compared to 2022, with cash coming from licence fees, engineering services, and provision of technology hardware jumping from the previous year. Despite these wins for the company, it still reported an operating loss of £59.4m, compared to £54m in 2022.

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