UK solid oxide hydrogen tech licensor Ceres has posted record order intakes of £112.8m ($146m) thanks to major Asian deals in 2024. But speaking to H2 View, CEO Phil Caldwell offered a more grounded assessment.
The firm’s revenues increased by 132% to £51.9m ($67m) in 2024, thanks to licensing deals with Taiwan’s Delta Electronics and Japan’s Denso, as well as an electrolyser system partnership with Thermax. Gross profit also jumped £26.6m ($34.4m) to £40m ($51.8m).
Despite eyeing a “similar” financial performance in 2025, Caldwell told H2 View that more partnerships are difficult to predict.
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