By Anthony O. Goriainoff


Ceres Power Holdings PLC said Wednesday that it has signed an agreement with Weichai Power Co. and Robert Bosch GmbH to access opportunities for fuel cell technology in China.

The London-listed fuel-cell technology company said Bosch has been added to its existing partnership with Weichai, strengthening the planned joint venture and increasing its scope to include stationary power applications.

The company said two separate joint ventures are intended to be set up in Shandong province, and that license fees of 30 million pounds ($40.6 million) are expected from these over the next three years.

"This exciting collaboration represents an important step in Ceres' ambitions for the Chinese market and a critical part of delivering global manufacturing capacity for our technology. We have every confidence in our partnership with Weichai and with the addition of Bosch's expertise in industrialization and manufacturing have the potential to establish one of the strongest partnerships in the fuel-cell industry," Chief Executive Phil Caldwell said.


Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com


(END) Dow Jones Newswires

02-09-22 0255ET